Property Management Policy & Procedure Manual
Section 000: Introductory Material
An item acquired by donation, transfer-in from another institution, or purchased on Agricultural Research Foundation (ARF) or OSU Foundation (OSUF) funds (any method other than through FIS Banner) must be added to inventory, if the value meets the capital threshold.
A Fixed Asset Data Entry form should be completed and submitted to Fixed Assets Property Management - Financial Accounting & Analysis (FA&A) for each item. This form documents the same information that would ordinarily be provided in Banner for the completion of the asset record. This form should also be used to provide asset information for purchases of capitalized equipment.
- Description: Complete description of the asset, generic or common noun first.
- Department: Department responsible for asset.
- ORG Code: Enter the organization code for the owning department.
- Status: Choose the status of the equipment from the drop-down list.
- Received Date: Enter date received (date OSU became responsible for the asset).
- Completed Date: All parts for this capital asset have been verified as received. This will be the depreciation start date for the asset. Note: The asset may not be set up and ready for use.
- Location: Building and room number or appropriate Building/Room code.
- Value: Market value of item (equipment that isn’t purchased should be appraised for its current fair market value).
- Condition: Choose the condition code from the drop-down menu that best describes the item.
- Manufacturer: Fill in manufacturer’s name.
- Model: Fill in manufacturer’s model number.
- Serial: Fill in manufacturer’s serial number.
- PI/Custodian: The name of the Principal Investigator/Custodian that is responsible for the asset.
- PI/Custodian OSU ID #: Enter the 9-digit OSU ID number for the PI/Custodian. If unknown, leave blank.
- Use Code: Choose the functional use code from the drop-down list that describes the primary use for the asset.
- Title-to: Check the appropriate title code designating ownership and insurance.
- How Acquired: Check the acquisition code that describes the method of acquisition.
- Asset Funding Source Data (for Service Center or Auxiliary purchases): Leave blank unless information is different than the invoice.
- Additional Information: Include any additional information for the transaction or note any information that should become part of the asset record.
- Requestor Name: Name of person submitting the form.
- Requestor Phone: Phone number of person submitting the form.
- Date: Date of request.