Tracking Equipment Below
Minimum Capitalization Threshold
The University of Iowa capitalizes and tracks equipment costing more than the minimum threshold (now $5,000 and useful life greater than one year) as assets. These assets are purchased on I/act 6730. Assets that can bear the University’s metal bar-code tag are tagged. Other assets are tracked in the property management system (PSAM) by serial or accession numbers.
The University also purchases equipment that does not meet the threshold for capitalization. This includes items that a department may wish to track on its own records, such as laptops, desktop computers, and cameras. Departments may already track some of these pieces of equipment. For Departments that do not track these non-capitalized pieces of equipment and wish to do so, Property Management Office provides the following services:
Tags
PMO can provide a campus department with its choice of tags: the Black Tag shows University ownership and provides space for a hand-written departmental tracking number; the Gold Tag shows University ownership only.
Black tags are available in sheets of 11 tags. Gold tags are available in sheets of 10 tags. Please e-mail Charma Wenck requesting the type of tag and the corresponding number of sheets of tags you would like, along with campus address for delivery and your phone number.
Template to Track Equipment
The PMO website provides an excel template to help departments keep a listing of non-capitalized equipment of its choosing.
The template should be downloaded from our website and saved in your department folder so that it can be updated as needed.
Process information is shown on the second tab, “Process”. This template is a generic tool for your use, and departments can modify it as needed.
Because PMO is providing the template for your use, PMO is not tracking this inventory or your use of the template.
Property Management is a department within the Finance and Operations organization
