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1,526: Equipment Inventory

Revised: December 2021

The ownership of all university property is vested in the Board of Regents of the ÁùºÏ±¦µä System of Higher Education, regardless of funding source. 

Equipment Inventory

Asset Management is a unit within Business Center North (BCN) Purchasing and has responsibility for the proper tagging, reporting, and controlling of all equipment in BCN institutions. Asset Management oversees the AssetWorks system, which is the fixed asset system that houses all of NSHE’s fixed asset data.

The following items must be recorded in AssetWorks.

  1. Inventoried Equipment – Inventoried equipment is defined as all merchandise meeting the following criteria.
    1. Has a cost of $5,000 or more.
    2. Is complete in itself (needs no additional components or parts in order to function).
    3. Does not lose its identity even though it may be a component part of another item in use (can be used on its own in addition to being a component of a larger system).
    4. Is of a non-expendable, non-repairable, durable nature with a life expectancy of one year or more.
  2. Other equipment, regardless of cost:
    • All vehicles and trailers (for DMV purposes)*
    • Firearms of all types (e.g., revolvers, shotguns, rifles, starter guns)**
    • Pyrotechnic devices**
    • Some components of buildings or facilities that meet the above criteria such as generators, score boards, fixtures, etc.***
    • All computers (desktops, servers, laptops, tablets) 

    * Use institutionally designated Worktag
    ** Use the Board-mandated track sensitive equipment Worktag
    *** No additional Worktag needed

Sensitive Equipment

Sensitive Equipment Listings – All departments must create and maintain a separate spreadsheet, regardless of acquisition cost, if any of the following apply:

  • The department has computers (desktops, servers, laptops, or tablets) that were purchased prior to Workday, and therefore are not recorded in the NSHE system.
  • The department has equipment that is leased or loaned equipment to the institution and is not recorded in AssetWorks.

All university employees are responsible for the safekeeping of university property. Each cost center will complete an annual physical inventory.