Asset Management

Asset Management identifies and tracks Capital and Non-Capital Equipment to align with Federal, UC and SOM policy from acquisition to disposition. All equipment purchased is the responsibility of the custodial department/unit but belongs to the University. As a result, here is some key information that helps Business Operations track equipment, starting with identifying Capital Equipment vs Non-Capital Equipment. For more information about Capital Equipment, see policy BFB-BUS-29.

Types of Assets

Understanding the different types of assets is essential for accurate purchasing, tracking, and stewardship of University resources. Assets are categorized based on factors such as cost, useful life, sensitivity, and regulatory requirements. Correctly identifying an asset type helps ensure compliance with University policies, supports inventory and financial reporting requirements, and establishes the appropriate processes for acquisition, tagging, monitoring, transfer, and disposal.

The following sections describe the primary asset categories and provide guidance on how each type should be managed throughout its lifecycle. By using the correct asset classification from the outset, departments can help maintain accurate records, safeguard University property, and support responsible fiscal management.

Capital Equipment

Capital Equipment is defined as: non-consumable, tangible, furniture, moveable (not affixed to a physical building/location), and cost over $10,000 including applicable taxes, shipping, and fees. Capital Equipment require both a blue SOM ID Tag and a Campus White Property Tag. The Asset Management Analyst/Business Operations representative will reach out to tag equipment when needed.

Non-Capital Equipment

Non-Capital Equipment are: non-consumable, tangible, not furniture, moveable (not affixed to a physical building/location), and cost between $500 and $9,999.99 including applicable taxes, shipping, and fees. Non-Capital Equipment require a blue SOM ID Tag. The Asset Management Analyst/Business Operations representative will reach out to tag equipment when needed.

Non-Capital Equipment are: non-consumable, tangible, not furniture, moveable (not affixed to a physical building/location), and cost between $500 and $4,999.99 including applicable taxes, shipping, and fees. Non-Capital Equipment require a blue SOM ID Tag. The Asset Management Analyst/Business Operations representative will reach out to tag equipment when needed.

IT Hardware

IT related equipment is tracked and tagged by the OIT team in collaboration with Business Operations’ Asset Management Analyst. IT related equipment is considered any equipment that goes through the IT procurement workflow, linked here). For more information, please submit an inquiry with SOM OIT ServiceNow ticket system.