Property Definitions

 

Capitalized Equipment

Capitalized Equipment is defined as tangible, non-consumable property that has a unit acquisition cost equal to or greater than $5,000, an estinated life of greater than one year, and is not permanently attached to or incorporated in university buildings and grounds. The Accounting Services Office is required to record the property into the Central Financial System (CFS) data base as capital assets. Detailed guidelines on capitalization of assets are located in the CSU GAAP Reporting Manual Capital Asset Guide and are generally administered by the Accounting Services Office.

Non-Capitalized Equipment

Non-Capitalized Equipment is property that does not meet the criteria to be capitalized but meets the following critera: a unit acquisition cost of $2,500 to $4,999, an estinated life of greater than one year, and is not permanently attached to or incorporated in university buildings and grounds

Sensitive Property

Reguardless of cost sensitive property is property that is easily subject to theft, loss, and/or stores confidential data as determined by the PMO. These items can be capital and non-capital property that are tagged and inventoried.

Salvaged/Cannibalized

To disassemble or dismantle property to obtain useful parts for use on other property, thereby rendering the original property useless.

Instructional Equipment

Instructional Equipment is defined as equipment purchased for use in instructional departments. The Property Management Office (PMO) will maintain records to track and report required information to the University and State.

Other University Property

Other University Property is defined as desks, bookshelves, chairs, file cabinets, and other miscellaneous equipment and furniture at a cost of less than $5,000. All surplus property and equipment must be disposed of through the PMO, regardless if the property/equipment tagged and inventoried on the University's Record.