1. What is the difference between capital and expendable property?
Capital property (also referred to as fixed/capital assets or OCO) is real, personal or intangible property that has a cost equal to or greater than an established capitalization threshold and has a useful life extending beyond one year.
In general, departments deal primarily with tangible personal property, which at FSU is considered capital if its acquisition cost is equal to or greater than $5,000. The cost of a capital asset should include ancillary charges necessary to place the asset into its intended location and condition for use (such as freight and transportation charges, installation, and training).
The cost of replacement parts, repairs, and service contracts should not be added to the cost of an asset. An equipment improvement or upgrade that collectively cost at least $5,000 and extend the useful life of the asset should be considered capital. Generally, capital assets are purchased using a 76xxxx account code. Expendable property includes non-consumable tangible personal property with a useful life less than one year and/or an acquisition cost of less than $5,000.
Generally, expendable property is purchased using a 74xxxx account code. While departments are responsible for safeguarding and properly managing all University-owned property, regardless of cost, an annual inventory is required of capital assets but not expendable property.
2. What is my department’s responsibility for university-owned property?
The role of University departments is to effectively manage and safeguard property; ensure that University capital assets are marked / tagged in accordance with applicable rules, policies, and procedures; provide non-accounting information in a timely manner to Accounting & Property Services for updating OMNI; and to ensure the performance of the annual inventory of capital assets in its custody. Specific individuals within each department are assigned various property roles in order to help ensure these responsibilities are met.
3. Who is currently listed as the Property Manager, Property Custodian and Inventory Taker for my department and what responsibilities do these employees have?
These roles are assigned by the department’s dean, director or department head. By default, the Budget Manager is assigned the Property Manager role for all property not acquired with a contract or grant (C&G), but the role can be delegated to other departmental personnel, as deemed necessary. The Property Manager role for all C&G property is assigned to the Principal Investigator, as long as the contract or grant remains active.
In order to determine who is currently on record for the property roles in your department you should run the FSU_DPT_AM_PROPERTY_ROLES query in OMNI.
The Property Management Role Designation Form should be used whenever the individual assigned to one of these roles changes. In general, these roles should not be assigned to the same person.
Property Manager responsibilities:
• Determines the appropriate disposition method (surplus, scrap, etc.) for ALL departmental property (regardless of its original cost).
• Serves as the final approver for the disposition/transfer of expendable departmental property (original cost less than $5,000), EXCLUDING vehicles and all devices that contain a hard drive or other media storage device.
• Obtains approval from Asset Management (and Sponsored Research for C&G property) for the disposition/transfer of all other departmental property, which includes:
— Capital property (cost at least $5K)
— ALL vehicles
— ALL devices with a hard drive
Property Custodian responsibilities:
• Serves as the department’s primary point of contact with Asset Management.
• Coordinates with Asset Management to identify new capital property:
— Assists in physical tagging
— Provides necessary information to Asset Management to load capital property in OMNI
• Responsible for the department’s property records
• Responsible for maintenance of property in accordance with the manufacturer’s specifications or as deemed necessary. Maintenance logs are recommended and must be kept on assets purchased through federal awards.
Inventory Taker responsibilities
• Performs annual inventory of department’s capital property.
• Role may not be required for certain departments with a relatively small number of capital property items (Asset Management performs the annual inventory for many of these departments).
• For internal control purposes, the person assigned this role should not be the same person assigned as the Property Custodian or the Property Manager.
4. Does my department have any responsibilities for property that costs less than $5,000?
Yes. While assets with a cost of at least $5,000 are the only ones that are required to be tagged and inventoried on an annual basis, it is the role of University departments to effectively manage and safeguard University-owned property, regardless of cost.
In order to safeguard University property departments should:
• Lock property in secured locations
• Perform adequate maintenance and upkeep of equipment
• Keep maintenance logs for property purchased through federal awards, which should, at a minimum, include:
— Property detail
— Property ID
— Date/type of maintenance performed
• Train staff on procedures for properly handling equipment
• Lock doors when rooms are not in use
• Store equipment in environmentally suitable locations to prevent corrosion, contamination and damage of sensitive parts
• Track items that are removed from campus
Additional information on attractive/sensitive property and tracking expendable property in OMNI is available in the Attractive/Sensitive Property section of the FAQ.
5. How are assets identified and tagged?
Assets are identified by Accounting & Property Services (APS) in numerous ways, but in general, after a voucher has paid which includes one or more capital property items, they will be loaded into OMNI’s Asset Management module. APS assigns a 12 digit tag number to all capital tangible personal assets and will contact the Property Custodian for additional information and to arrange for the physical tagging of the asset(s).The various property tags APS assigns are:
• Most common FSU Property Tag
• Assigned to all non-Contract & Grant (C&G) capital tangible personal property items that are able to be tagged
• Also assigned to C&G funded property which is owned by FSU without any title restrictions
• White tags with garnet text
• Assigned to capital tangible personal property items that do not have a container or cannot have a tag affixed to them for some reason
• No physical tag is issued; rather the Property Custodian certifies that they are properly in custody of the university each year
• Assigned to capital property acquired with C&G funds that restrict FSU’s title to the asset
• Green tags with black text
• APS will coordinate with Sponsored Research to remove this special tag when it has been determined that the restrictions • in place on the University’s title to the asset have been removed.
• At this time, a regular 4920 00 tag will replace the 4920CT decal.
• Capital assets that remain the property of the U.S. Government are assigned these tags
• Green tags with black text
• These property items also are affixed with a “Property of U.S. Government” tag
• Capital assets that remain the property of a non-federal sponsoring agency are assigned these tags
• Green tags with black text
Attractive Item Tags
• Assigned to certain non-capital property at the request of the department via an Attractive Item Addition Form
• Use a numbering system starting with 4920, then the 3-digit Dept. ID followed by a 5 digit sequential number
• White tags with gold text
6. What property training is available and is it required?
Property Training class (BTPT01) covers common terms, accounting, policies, procedures and responsibilities as well as forms, queries and resources related to University property is available. This class can be taken either online or in-person and is required for all Property Managers and Property Custodians and is strongly recommended to all departmental financial representatives.
For more information on signing up for the class, see hr.fsu.edu. The class slides are available here. Additional materials, including a Property Inventory Scanning Guide is available on the Controller's Training & Job Aids page.
7. I'd like to take an item off campus, do I need to obtain permission to do so?
The removal of University capital property (cost of $5,000 or more) from campus sites must be authorized via the submission of an Equipment Use Request Form by the department Property Manager.
A completed form should be sent to Accounting & Property Services (APS) when the capital asset is checked out. The department's Property Custodian should retain a copy of the form until the item is returned, at which time the department should complete the Return Confirmation and Return Location sections and submit the revised form to APS.
The form associated with an item removed for a period of one year or less will automatically expire on June 30th of the fiscal year in which the form was completed. For the period of use, put today's date in the "from" field and 6/30/20xx in the "to" field. These forms must be updated every fiscal year.
Capital property items removed in excess of one year require approval by the department's Dean, Director or Department Head (DDDH). The form associated with an item removed for a year or more does not expire; in the “from” field put today’s date and in the “to” field write the word Indefinite.
Please note that while an Equipment Use Request form should not be submitted to APS when expendable property items are taken off campus, university property should never be removed unless it required by a contract or grant and/or if the use of the property in the off-campus location will further the goals of the university. In order to properly safeguard university property for which they are responsible, departments should develop a method to track all assets (including expendable property) removed from campus.
8. What is the Property Survey Board?
The Property Survey Board is a team of appointed faculty and staff members appointed by the Provost that examines and makes recommendations on the approval or disapproval of disposition requests of major accountable property (as submitted by University departments using an Accountability Release Form). Generally, the Board examines and approves all dispositions of assets with an original cost of at least $100,000 and delegates their authority to Accounting and Property Services for dispositions of all other capital property.
9. Can I use Accounting & Property Services forms for assets purchased using grant money?
Yes. The property forms can be used for all FSU funds. Property forms related to contract or grant funds must first be approved by Sponsored Research. If Sponsored Research approves the form then it will be forwarded to Accounting & Property Services for processing.
1. Should improvements made to an existing capital asset be coded as a capital expenditure (76xxxx)?
If the total amount to be spent on improving an existing capital asset is at least $5,000 and the improvements will extend the useful life of the asset, then yes. If either one of these conditions are not met, the expenditures should be recorded as operating expenses (74xxxx).
2. If an asset is fabricated by FSU, does it need to be included in inventory?
Equipment fabricated or constructed by or for the University should be added to the University’s inventory if the completed cost is over $5,000 and the life expectancy is greater than one year. Accounting & Property Services should be notified at the outset of such a project so that a methodology (e.g. a specific Optional Chartfield) can be determined in order to track the various costs involved in the fabrication of the item.
The final cost includes, but is not limited to, the cost of freight, component parts, and installation. Do not include replacement parts, repairs, or service contracts in the final cost. Upon completion, the department Property Custodian should provide Accounting & Property Services with a description, accumulated cost, Department ID and Fund Code for the new asset.
3. Is a software license ever recorded as a capital asset?
Software license fees will be considered a capital asset if the total dollar amount of the fee divided by the number of units served (users or personal computers) is greater than $5,000.00, and the license covers more than one year.
4. Can my department receive donated property?
Yes. Property may be donated to the University without expenditure of funds other than shipping costs. The procedure and documentation required for the donated item(s) depends on the benefiting entity and is detailed in Property Policy 4-OP-D-2-F E3.
5. Can I use my FSU Purchasing Card (P-Card) to purchase a capital asset?
In general, yes. However, there are restrictions related to certain furniture and equipment purchases. For additional information, see the Special Conditions and Prohibited Purchases sections of the P-Card Manual.
1. What is attractive/sensitive property?
Attractive/sensitive property refers to certain items with a cost less than $5,000, will vary from department to department, and should be evaluated in the context of their environment. Factors that should be considered when evaluating the attractiveness or sensitivity of an item includes its portability, its adaptability for personal use, whether it contains new technology, its potential resale value if stolen, and/or the security of its location.
2. Is OMNI available for tracking attractive/sensitive property?
Yes. Departments may choose to complete the Attractive Item Additions Form for certain non-capital assets they deem to be high-risk and/or especially susceptible to theft.
Once this form is submitted to Accounting & Property Services, the information provided will be entered into OMNI and Property Services will generate gold bar code tags that will be distributed to the department in order to facilitate the inventory of these items. Please note that monitoring and control of these items will be the sole responsibility of the requesting department.
3. What information can be entered into OMNI related to attractive/sensitive property?
The information available for tracking for attractive/sensitive property includes Tag Number Assigned, Cost, Location (Building and Room Number), Item Description, Manufacturer Information, Serial Number, Acquisition Date and Comments. The requesting department may choose to fill out as many of these fields as they see fit. Additionally, once the department has scanned the tags distributed for these items, the most recent inventory date will be available in OMNI.
4. Can attractive/sensitive property that has been tagged be inventoried with the same scanners used to inventory capital departmental assets (i.e. those with a cost of $5,000 or more)?
Yes. Scanning attractive/sensitive property that has been tagged with University tags will load information into OMNI on the date the inventory is performed.
5. Is it possible to look up information on attractive/sensitive property in OMNI?
Yes. Information on tagged attractive/sensitive property, including most recent inventory date, is available via the FSU_DPT_AM_CURR_NONCAP query.
1. How do I properly dispose of departmental property that cost less than $5,000 (i.e. expendable property)?
The disposition of all vehicles, devices containing a hard drive, and items that may have residual value must be approved and coordinated through Accounting & Property Services (APS). Items with residual value (surplus), regardless of cost, will be made available to other university departments before being offered for sale online. These types of dispositions should be processed via an Accountability Release Form.
The non-surplus disposition of all other expendable property must be approved by the departmental Property Manager, but DOES NOT need to go through APS. If the department requires assistance in disposing of these types of items, a Facilities work order should be submitted.
2. How do I properly dispose of departmental property that cost $5,000 or more (i.e. capital property)?
If capital departmental property becomes obsolete, uneconomical, inefficient, or no longer serves a useful function, the department Property Manager should request, via a Property Accountability Release Form, that the item(s) be disposed in the most appropriate manner.
Once the disposition is approved, you will be contacted to arrange pickup of the item(s) by FSU Surplus Property staff.
3. Can I trade a property item no longer needed for another asset?
In order to trade-in university property (capital or expendable) for the acquisition of new property, the department must first detail on a Purchase Requisition the property item(s) being traded and obtain approval from FSU Procurement Services. If the item(s) being traded cost less than $5,000 and are not vehicles or devices with a hard drive, the department may proceed with the trade-in as soon as the requisition is approved.
Once Procurement Services has approved the trade and if the property being traded in is a capital asset, vehicle or device with a hard drive, the department Property Manager must then obtain approval from Accounting & Property Services (APS) by submitting a copy of the Purchase Order along with a Property Accountability Release Form. The “Trade-In” disposition method should be selected on the form.
No attempt to acquire the replacement item(s) from the vendor should be made until the transaction has been approved by APS. The purchase order accompanying the AR form should indicate the item is being traded and include a description of the asset and its inventory tag number as well as the dollar amount the vendor is offering as a trade-in allowance. If the trade-in allowance amount is not stated on the purchase order, the department must obtain a letter from the vendor stating the dollar amount given.
There are special procedures that must be followed when a vehicle is traded-in. Please see the Vehicle FAQs.
4. What additional steps are required when disposing of a device with a hard drive (e.g. PC, laptop, copier, smart phone, etc.)?
According to University policy OP-D-2-F, devices that contain a hard drive such as PCs, laptops, copiers, and smart phones must have their drives wiped or "scrubbed" prior to their disposition. Computer “scrubbing”, also referred to as “data cleansing”, is cleaning the computer’s data or wiping the hard drive. It is not the same as deleting files.
According to University policy OP-D-2-F H1, it is the responsibility of departmental Property Managers to ensure hard drives have been properly scrubbed prior to their disposition. Detailed information on how to scrub a hard drive can be found on the FSU Information Technology Services website.
Each device with a hard drive must be on the Accountability Release Form along with the initials of the person who scrubbed it. Additionally, each device must have a properly completed scrub sticker attached. This sticker should include information on the date the device was scrubbed and the name of the person who scrubbed it.
The verified-on date and initials do not have to be filled out unless a second person (warehouse personnel, auditor, other departmental personnel, etc.) checks the scrub status at a later date. Scrub stickers may be obtained from Accounting & Property Services by contacting them at CTL-PropertyServices@fsu.edu
5. Can my department donate items directly to another university, individual, city, state, or county agency?
No. Donations are coordinated through Accounting & Property Services and the outside agency.
6. What is the difference between cannibalized and scrapped / junked assets?
Assets are cannibalized when a “working part” is removed from one asset and used in another asset. Cannibalization is encouraged as a time and cost saving measure. Assets are considered to be scrapped / junked when they are in non-working condition, are without use or value and have no useable parts that may be removed and cannibalized.
7. What is the difference between a missing asset and a stolen asset?
A “missing” asset is one that cannot be located during a department’s annual physical inventory. A “stolen” asset is one that cannot be located after a break-in, robbery or other criminal activity has taken place.
Both types of assets require that the department fill out both an Accountability Release Form and a police report (including case number). Once these two reports have been completed, they must be sent to Accounting & Property Services.
A police report for a missing asset can be completed online at the FSU Police Department website. Missing assets will remain on the department’s inventory for two full fiscal years while attempts are made to locate them. Stolen assets are immediately removed from the department’s inventory, and the department is no longer required to look for them.
1. How long does it take for Surplus Property to pick up items?
Generally, once a Property Accountability Release Form has been processed and approved by Accounting & Property Services, a request should be scheduled and picked up within ten business days.
2. What surplus items are available for FSU departments?
All items submitted to Surplus Property are held for a period of at least five business days and made available to FSU departments at no cost before they are put up for auction. After this period, items held for sale are no longer available to departments. FSU employees may view items at the Surplus Warehouse on behalf of FSU departments during the times listed under Hours of Operation.
3. Is there a detailed listing of surplus items currently available for acquisition by FSU departments?
Yes. A SharePoint database of all surplus items currently available for transfer to departments is available and can be accessed by any FSU employee using his/her OMNI username and password. Please note that it may be necessary to add ‘@fsu.edu’ to the end of your user name when logging in to view the site. Use of Internet Explorer is strongly recommended when accessing this SharePoint database.
Items on this list have either been transferred to the surplus warehouse already (Status = “Held for Transfer”) or they are items that a University department has requested be sent to Surplus that have not been physically moved to the warehouse (Status = “Submitted Awaiting Pickup”). Certain items, such as office furniture, with a paperclip icon next to them have photos attached.
To view photos, simply click on the paperclip icon next to the item you are interested in and a listing of pictures will pop up. Note that if your default browser is not Internet Explorer, it may be necessary to input your username/password each time you open a picture. Additionally, if you are looking for a particular type of item you can easily filter the list by the Category and/or Description columns.
4. How does my department acquire a surplus property item?
Simply email Accounting & Property Services at CTL-PropertyServices@fsu.edu and request the item(s) you are interested by referencing the Item # in the internal surplus database. Someone from Accounting & Property Services will follow up with the Property Manager and/or Property Custodian for your department in order to finalize the transfer and delivery of the item(s) requested.
5. How do I surplus multiple items of the same type (e.g. chairs, desks, file cabinets, etc.)?
Once the department Property Manager has determined the items have residual value, they should be submitted as surplus using a Property Accountability Release Form. Rather than listing each like item individually, however, just list all like items on one single line and indicate the total number of like items. However, if an item is a capital asset and has an inventory tag number assigned to it, the item must be listed individually on its own line.
It is strongly recommended that the Accountability Release Form Addendum be utilized when more than a few items are being sent to surplus. This Excel spreadsheet allows the department to easily copy and paste similar items and the number of rows is not limited.
6. How much does it cost to transfer a surplus asset to my department?
This transfer is free to departments.
7. How do I physically get a surplus asset to my department?
Surplus Property staff can perform the physical item move according to their daily schedules.
Alternatively, departments may obtain items directly from the surplus warehouse by sending an FSU employee to pick them up and bring them back to the department. In these instances, an email will be sent to the department Property Manager informing them of the item(s) obtained for their department’s use.
8. As an FSU employee, may I participate in surplus auctions?
Yes. The auctions are open to the public, including FSU employees. For additional information about the surplus sales check out the Surplus Property page.
1. Why does my department have to do a physical inventory every year?
An annual inventory of major accountable property is an aspect of sound financial management of any organization. Additionally, the annual physical inventory is required by Florida Statutes and FSU Policy. In an effort to increase the efficiency of the inventory process, Accounting & Property Services performs the inventory centrally for departments with relatively few capital assets (generally fewer than 50 items). Departments that perform their own inventory are permanently assigned a property scanner so that they have ample time in which to complete the process each year.
2. How do I know when I am required to do my department's inventory?
Each year, Accounting & Property Services will notify departments of their inventory start and end dates and post the inventory schedule on the Controller’s website.
3. What is involved in performing my department's physical inventory?
The requirements of the University’s annual inventory are detailed in the training provided by Accounting & Property Services and will vary somewhat depending on the number of assets for which your department is responsible. Additional information may be found in the Property & Inventory section of the Controller's Training & Job Aids page. Additional questions about annual inventory should be directed to Accounting & Property Services at CTL-PropertyServices@fsu.edu
4. What do I do if I locate an asset, but I am unable to scan it?
Assets can still be inventoried even if they are unable to be scanned. Generally, there are two ways to do this. The best method is to request a new tag by completing and submitting the Property Decal Request Form.
Items that have been physically located and verified but which cannot be scanned electronically must be listed on the Inventory Completion Certification Form. Generally, these will be off-site property items (a listing of which can be obtained using the FSU_DPT_AM_OFFSITE_ASSETS query) or items for which a property tag could not be affixed at the time of acquisition (those items with a 492009 Tag Number).
Any assets listed on the form as “verified but not scanned” should include a brief description of why the item was not scanned and, for off-site assets, the current off-site location (note that this additional information is not required for "4920 09" tagged assets).
5. What do I do if I cannot find an asset?
When items are not located during inventory, these items should be reported as “missing” via the completion of a Property Accountability Release Form, with the “Missing” Disposition Method selected. Additionally, an Inventory Shortage Police Report should be submitted to FSUPD and be included, along with the case number assigned by FSUPD, with the Accountability Release form submitted to Accounting & Property Services.
1. What does my department need to do when purchasing a vehicle?
1. Send a copy (not the original) of the Manufacture Certificate of Origin (MCO), a copy of the purchase order (PO), and a copy of the dealer’s invoice to Accounts Payable in order to purchase the vehicle. Usually the MCO is a small piece of paper that is brown/beige in color.
2. Assure the dealer signs the MCO/title as the seller. Do not sign this paperwork in the field as the buyer. Only an authorized employee from Accounting & Property Services (APS) can sign in this field.
3. Complete a Vehicle Acquisition Form and hand deliver it along with the original MCO/title, a copy of the PO, original Department of Motor Vehicles (DMV) Form 82020 – Application of Title (usually provided by the dealer), the original dealer invoice, any other paperwork the dealer provides to APS in UCA 6300. DO NOT send these documents through Campus Mail.
4. A representative from APS will go to the DMV to register and obtain the title to your new vehicle. APS will contact you when the vehicle license plate and paperwork are ready for pickup. APS will not mail license plates.
5. Affix the new license plate to the vehicle and then put the registration and other paperwork provided by APS in the glove box of the vehicle. All vehicles are required by Florida law to provide these documents if stopped by a law enforcement officer.
2. How does my department dispose of a vehicle?
You may dispose of a vehicle in one of two ways:
1. Surplus it using the Property Accountability Release Form.
2. Use your current vehicle as trade-in on a new vehicle. When the vehicle is turned over to the dealership for trade-in, ensure that the trade-in allowance is what the vehicle is worth. After the new vehicle is purchased and the old one is released to the dealer, remove the state license plate and return it to Accounting & Property Services (APS). When the Vehicle Acquisition Form and all the proper paperwork is processed, APS will release the signed original title to your department, so it can be delivered to the dealer. Your department must fill out an AR Form to remove the old vehicle from your department’s inventory.
Note: Section 1 of the AR Form must include the reason for the trade-in as well as the trade-in allowance received for the vehicle. The accompanying Vehicle Acquisition Form should indicate the FSU Tag # and VIN# of the vehicle traded in.