Activity: Equipment Control Financial Policy: I-140 Off-Premise Equipment Control http://www.indiana.edu/%7Evpcfo/policies/accounting/i-140.html Related Policies: I-150 Capitalization of Movable Equipment http://www.indiana.edu/%7Evpcfo/policies/accounting/i-150.html I-170 Custody and Initial Physical Confirmation of Capital Moveable Equipment http://www.indiana.edu/%7Evpcfo/policies/accounting/i-170.html I-180 Depreciation of Capital Assets http://www.indiana.edu/%7Evpcfo/policies/accounting/i-180.html I-270 Ownership of University Capital Assets http://www.indiana.edu/%7Evpcfo/policies/accounting/i-270.html III-70 & Equipment Transfers (equipment purchased from contract and grant funds) http://www.indiana.edu/~vpcfo/policies/contract/iii-70.html Additional Forms: Capital Asset Management System (CAMS) http://www.fms.indiana.edu/cams/ Standard Operating Procedures http://www.fms.indiana.edu/cams/policies/home.asp Capital Assets Manual http://www.fms.indiana.edu/cams/Manual/Manual.asp CAMS Training Materials http://www.fms.indiana.edu/cams/training_materials.asp Things to Know: It is the responsibility of the department to keep an accurate inventory of both non-capital and capital equipment. Movable Capital Equipment is transportable equipment in the custody of Indiana University which have an acquisition value of five thousand dollars ($5,000) or more and a normal life expectancy of one year or greater. Non-Capital Equipment is valued at $4,999 or less and does not have the same data requirements as capital equipment. If asset cost is $1,000 or more, an IU white tag must be attached to the equipment and entered into the university asset database before the Equipment Loan/Return document can be initiated. IU white tags can be purchased from the Capital Assets Management Office. If equipment is purchased with contract and grant funds then you need to pay attention to the contract in addition to the IU policy. Contract and Grant Administration will go with the policy that is most strict. For information on creating non-capital assets please review the “Non-Capital Asset” training document at: www.fms.indiana.edu/fis/documentation/docchart.asp Risk Management should be contacted to see what type of coverage is available, the cost (if any), the amount of the deductible, etc. www.indiana.edu/~riskmgmt Point of Contact: Capital Assets Management Office 855-9419
