Fixed/Capital Assets and Inventory

The Fixed Assets Property Management (FAPM) unit within Financial Accounting & Reporting (FAR) manages the fiscal database in Banner and the biennial inventories of capital assets across campus and at remote locations.  It is the responsibility of OSU departments to keep track of their assets (capital and minor equipment) and to cooperate during the biennial inventories.

All assets remain OSU property and remain on inventory, even if fully depreciated or seen as having no value. Capital assets are included in biennial scans until FAPM has received official notification that the asset is no longer of use and has either been sold, disposed (recycled, lost, damaged, or destroyed), and/or transferred or traded through the proper channels. Fully depreciated assets are included in the financial statements in both the cost and accumulated depreciation figures. The net effect is zero but the gross amounts on the financial statements include them.

NOTE: The principal investigator (PI) for any grant project should never consider any equipment purchased on grant funds as personal property. OSU owned and insured equipment can only be transferred from OSU to another institution when the proper transfer steps are followed.

Below are common fixed asset topics and where to find the policy information in the FIS Policies under Asset Accounting.

Forms for equipment loans, transfers, property disposition requests (PDRs), and other reference materials:

Responsibilities of the departments/units regarding fixed assets:

How fixed assets are purchased or otherwise acquired:

How equipment should be managed once purchased, including asset tags and insurance:

Information on vehicle purchases and how to handle titles:

Information on the biennial inventory process (every 2 years for each department):

Equipment loans to employees, other institutions and loans to OSU:

Disposal of OSU-owned equipment (assets or minor equipment):

See the PRO Manual for other topics such as:


A quarterly email is sent to equipment managers/property coordinators. If you would like to receive this email, please contact Fixed Assets.

Please contact us if you need additional assistance regarding fixed assets:

Charlotte Rooks, Manager of Analytical Operations

Nancy Boedigheimer, Fiscal Coordinator 2

Iqbal Khurram, Fixed Assets Property Manager

Amy Donnelly, Fixed Assets Property Coordinator