Equipment (Asset Management)
NDSU prohibits the personal use of university property.
Definitions
Capital Equipment: personal property items costing more than $5,000. This cost includes freight and installation. Items donated to a university department and valued at more that $5,000, must also be accounted for as capital equipment.
All department owned items meeting this definition should be on the university's fixed asset record.
Departments are responsible for providing the NDSU Accounting Office with timely and accurate information to keep the Oracle/PeopleSoft Finance system up-to-date.
Annual Inventory
To comply with state law, each department is expected to perform an annual inventory of its equipment. The department head will be expected to certify as to correctness of the department’s equipment listing. Detailed inventory instructions are sent out each year by the Accounting Office.
It is important to only have equipment that is useable on the department’s inventory.