Resource for Boulder Campus Property Managers
Year End is Coming! ! ! Steps to Take Now to Ease Stress Later.
- If you are working on your inventory, please try to get it done and the changes to Jeanne by June. Where your capital equipment is located does matter for a couple of reasons.
- It is a great best practice to know where your equipment is located because we do not accept "I don't know where it is as a reason" without a signature from your department head.
- Where a piece of equipment is located; e.g. research lab counts more to our F&A calculation than if a piece is located in an admin office. Because of this, the auditors like to verify that where the asset database has the item located is where it actually is. If we have wrong information, the sponsor auditing us can extrapolate the error across all departments on campus with their sponsor funded equipment.
- Check out the Property Services "How to Dispose of Your Capital Equipment Workshop" on May 8th, 9-Noon at MSSC Training Room. Why is this important for year-end?
- CU Boulder has 101 departments with active capital tags. Jeanne has noticed when doing her follow-ups that many of these departments have tagged items in storage closets, under stairwells, tucked in a corner of an office, etc.
- The impact adds up quite quickly; e.g. let's say departments store 150 tagged items, no longer being used, at an average original cost of $7,500 = $1,125,000 of what is called "Impaired Equipment" value on our financial statements. Impaired equipment are items that can no longer be used for their original purpose and CU is required to provide a list of this items to our auditors each year. It is ok for your department to use items for parts by requesting permission from Property Services.
- Property Services is the centralized information center where departments ask if there are any used items that they need. A department may pay you more than you are saving using the item for parts.
- Once you receive permission, contact Jeanne and she will take the tagged item off your inventory list and place it on the impaired equipment list.
Purchasing/Receiving Capital Equipment
- Fund 30/34
- Please use 810100 when purchasing assets >= $5,000. Contact Patty.Patterson@Colorado.edu if you have any questions. ext 2-8030
- CU-Boulder and Fed Fabrication Tag Request Form
- Transfer Tagged asset between departments on campus. Interdepartmental Transfer
- Transfers to another campus or not-for-profit entity (must be surplused/disposed on our campus first) contact Jack.Brubaker@Colorado.edu ext 2-7207
- Transfers from another campus or not-for-profit entity contact Jeanne.Connely@Colorado.edu ext 2-2424
- Transfers from a for-profit entity, treat as a Gift In Kind (GIK) see next item.
- GIK: Gift In Kind Form
Tracking/Maintenance of Tagged Equipment
- Change of Location Send email with Tag number & new location to: Jeanne.Connely@Colorado.Edu
- Change of Status
Cannibalization is when a dept disassembles a tag and uses the pieces for other uses.
Impaired: Equipment no longer used for intended purpose due to reduced functionality.
Office of Contracts & Grants
- Forms Link takes you to OCG's webpage for property.
Property Disposal/Transfers/Donations off campus
- Disposal: takes you to Property Services webpage for disposing of property.
- To Transfer, Donate or Sell Equipment: send an email to: Jack.Brubaker@Colorado..edu
Would you like 'read only' access to PeopleSoft Asset Management?
PSAM allows you to query your departmental assets to review their tag#, location, funding source, responsible person, etc. It's a great way to manage your assets and reduce your biennial inventory headaches.
Link to Access Form https://content.cu.edu/ums/security/CUonly/AMPS/Forms/fin-sys-access.pdf
- Email Questions to: firstname.lastname@example.org
- FAQ (under construction)