Dollar thresholds:According to the State University Construction Fund (SUCF) and Research Foundation
guidelines, all assets valued at or above specific dollar amounts are required to
have an asset control number assigned and a barcode property tag attached. This aids
in the tracking of the asset while in service, including the annual inventory and
with its surplus/scrap removal. It is campus policy to conduct an annual inventory
through the use of electronic correspondence to the departments. As the holder of
the property, a sampling of these assets will be verified.
State-owned assets (including Auxiliary Services) All assets valued at $5,000.00 and above.
Research Foundation All assets valued at $5,000.00 and above.
Dollar thresholds are used to determine whether an asset is tagged by the Property
Control Office or at the Department level. Ownership tags to be placed by the department
on equipment under the dollar threshold are available from the Property Control Office.
An inventory of this equipment may be kept at the department level.
Department Responsibilities: The department/research personnel are responsible for the stewardship of all equipment
purchased by (or on behalf of) the department/research project. The campus Property
Control Office is assigned the task of administering the Property Control System (PCS)
and ensuring that the campus abides by all State and Research Foundation requirements.
This system of property management allows departments to better monitor the use and
movement of equipment purchased by their respective offices. It also provides the
campus with a tool to ensure that State and Research Foundation owned equipment is
tracked properly, and disposed of when its service life is over.