Tagging University Assets
What needs to be tagged?
Any item with a unit cost of $2,000 or more and a useful life or service period of more than one year needs to be tagged. In addition, any donated item that has a fair market value of $2,000 or more at the time of donation and a useful life or service period of more than one year must be tagged.
How do I get new items tagged?
Some items delivered to Central Receiving will be tagged before they are delivered to your department. Otherwise, Inventory Control will contact you once the item has been paid. If the item needs to be tagged sooner, for example, if it will be relocated off campus, or if you receive a donated item, please contact Inventory Control at email@example.com.
Building an asset
If you will be building an asset over a period of time and it will involve multiple components, email firstname.lastname@example.org to let us know. Initial information we will ask for is a department contact, description, end user, estimated finished cost, estimated in-use date and proposed location.
In order to keep track of all the parts for the build, we will assign a tag# that should be included in the description of each purchase. Departments should be keeping track of their expenses. Fixed Assets will check in quarterly to review progress and costs so far.
Note: for P-Card purchases using grant funds, if you cannot put the tag# in the description, please put it under the Travel Authorization Number.