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Capital Assets (use Capital Account) Accordion Closed<\/span><\/h4>\n <\/span>\n <\/div>\n <\/a>\n
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Contact Property Administration once you have received a capital item.<\/p>\n
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Individual items valued at $5,000 or more<\/li>\n
Vehicles valued at $5,000 or more<\/li>\n
Intangible assets (see CMP 140)<\/li>\n<\/ul>\n<\/body><\/html>\n\n <\/div>\n<\/div>\n\n
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Non-Capital Assets (do not use Capital Account) Accordion Closed<\/span><\/h4>\n <\/span>\n <\/div>\n <\/a>\n
\n \n\n
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Vehicles under $5,000<\/li>\n
Other items at departmental request with a purchase document (e.g., cameras, projectors)<\/li>\n
Computers under $5,000<\/strong> are tagged and managed by the University’s Information Technology Services department. For more information email: ComputerPurchasing@nau.edu<\/strong><\/li>\n<\/ul>\n<\/body><\/html>\n\n <\/div>\n<\/div>\n\n\n \n
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Donated Property Accordion Closed<\/span><\/h4>\n <\/span>\n <\/div>\n <\/a>\n
\n \n\n
\n
Departments receiving gifts must complete a “Gift in Kind” report<\/strong>, obtain required signatures (Vice President, Provost), and submit a copy to Property Administration. Contact the NAU Foundation at 928-523-2012<\/strong> for forms.<\/li>\n<\/ul>\n<\/body><\/html>\n\n <\/div>\n<\/div>\n\n\n \n
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University Vehicles Accordion Closed<\/span><\/h4>\n <\/span>\n <\/div>\n <\/a>\n
\n \n\n
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Purchased with state or local funds, tagged, and added to the asset system. Titles and records maintained by Property Administration. For additional information call: NAU Transportation Service Center, 928-523-2469<\/strong><\/li>\n<\/ul>\n<\/body><\/html>\n\n <\/div>\n<\/div>\n\n\n \n
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Maintenance, Betterments, and Replacements Accordion Closed<\/span><\/h4>\n <\/span>\n <\/div>\n <\/a>\n
\n \n\n
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Maintenance\/Repairs:<\/strong> Costs to maintain or restore equipment are not capitalized. Includes floor\/wall coverings unless part of remodeling.<\/li>\n
Betterments:<\/strong> Capitalized if $5,000 or more; cosmetic improvements are not capitalized.<\/li>\n
Replacement Parts:<\/strong> Generally, are not capitalized unless they significantly increase value or useful life.<\/li>\n<\/ul>\n<\/body><\/html>\n\n <\/div>\n<\/div>\n\n\n \n
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Trade-ins Accordion Closed<\/span><\/h4>\n <\/span>\n <\/div>\n <\/a>\n
\n \n\n
\n
Approval must be obtained from Property Control before trading University assets.<\/li>\n
Complete a PCA form<\/strong> with the asset number, vendor, and trade-in quote before initiating a requisition.<\/li>\n<\/ul>\n<\/body><\/html>\n\n <\/div>\n<\/div>\n\n\n \n
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Personally Owned Equipment Accordion Closed<\/span><\/h4>\n <\/span>\n <\/div>\n <\/a>\n
\n \n\n
\n
NAU is not responsible for personally owned items.<\/li>\n
Individuals should mark ownership, provide a list to their department head, and retain proof of ownership.<\/li>\n<\/ul>\n<\/body><\/html>\n\n <\/div>\n<\/div>\n\n
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Transfers and Off-Campus Use Accordion Closed<\/span><\/h4>\n <\/span>\n <\/div>\n <\/a>\n
\n \n\n
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Transfers within\/between departments:<\/strong> Complete a PCA form with signatures, updated Speedchart number, and new location.<\/li>\n
Off-campus use:<\/strong> Requires pre-approval with the Approval for Off-Campus Use Form<\/strong>, for periods from 2 weeks up to 1 year. Renewal required for extensions beyond one year.<\/li>\n<\/ul>\n<\/body><\/html>\n\n <\/div>\n<\/div>\n\n\n \n
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Assets at Off-site Locations Accordion Closed<\/span><\/h4>\n <\/span>\n <\/div>\n <\/a>\n
\n \n\n
\n
Tag assets before leaving campus, record off-site location and contact person.<\/li>\n
If assets arrive untagged, Property Administration will coordinate tagging.<\/li>\n
Off-site assets remain part of the department’s inventory.<\/li>\n<\/ul>\n<\/body><\/html>\n\n <\/div>\n<\/div>\n\n
\n \n
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Disposal of University Equipment Accordion Closed<\/span><\/h4>\n <\/span>\n <\/div>\n <\/a>\n
\n \n\n
\n
All University property must be disposed of through Property Surplus<\/strong>.<\/li>\n
Unauthorized disposal (donation, sale, cannibalization, etc.) may result in disciplinary action.<\/li>\n
Contact Property Surplus: 928-523-4163<\/strong><\/li>\n<\/ul>\n<\/body><\/html>\n\n <\/div>\n<\/div>\n<\/p>\nLost, Stolen, or Destroyed Assets\u00a0<\/strong><\/h2>\n\n
Report all incidents to Property Administration within 10 days<\/strong>. Assistance is provided for police reports and insurance claims.<\/li>\n<\/ul>\n\n
\n \n
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Missing Accordion Closed<\/span><\/h4>\n <\/span>\n <\/div>\n <\/a>\n
\n \n\n
\n
Complete PCA form; signed by Dean\/Director and Provost\/Vice President. Assets must be missing two consecutive years<\/strong> before removal from the University’s asset inventory.<\/li>\n<\/ul>\n<\/body><\/html>\n\n <\/div>\n<\/div>\n\n\n \n
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Stolen Accordion Closed<\/span><\/h4>\n <\/span>\n <\/div>\n <\/a>\n
\n \n\n
\n
File police report, notify Risk Management, complete PCA form with Director’s signature.<\/li>\n<\/ul>\n<\/body><\/html>\n\n <\/div>\n<\/div>\n\n
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Impaired Accordion Closed<\/span><\/h4>\n <\/span>\n <\/div>\n <\/a>\n
\n \n\n
\n
Assets with significant and unexpected decline in service utility. Indicators include physical damage, regulatory changes, obsolescence, or changes in usage.<\/li>\n<\/ul>\n<\/body><\/html>\n\n <\/div>\n<\/div>\n\n
\n \n
\n
Destroyed Accordion Closed<\/span><\/h4>\n <\/span>\n <\/div>\n <\/a>\n
\n \n\n
\n
Complete PCA form. Police report required for intentional destruction (except vehicle accidents). Notify Risk Management if insurance claim involved.<\/li>\n<\/ul>\n<\/body><\/html>\n\n <\/div>\n<\/div>\n\n
\n \n
\n
Cannibalized Accordion Closed<\/span><\/h4>\n <\/span>\n <\/div>\n <\/a>\n
\n \n\n
\n
Contact Property Administration before using equipment for parts. Complete PCA form with Dean\/Director signature.<\/li>\n<\/ul>\n<\/body><\/html>\n\n <\/div>\n<\/div>\n<\/p>\n
Records Retention<\/h2>\n
\n
Property Control retains all documentation supporting the physical inventory.<\/li>\n
Records are kept in accordance with the State of Arizona Records Retention Schedule<\/strong>, with a minimum of three years beyond disposal<\/strong>.<\/li>\n<\/ul>\n
Definitions<\/h2>\n
\n
Asset:<\/strong> Any item of real property or Capital Equipment<\/li>\n
Betterments:<\/strong> Improvements that extend life, efficiency, or change use<\/li>\n
Cannibalization:<\/strong> Disassembly rendering equipment unusable<\/li>\n
Capital Equipment:<\/strong> Cost $5,000+ with life \u22651 year<\/li>\n
Depreciation:<\/strong> Recognition of asset\u2019s value loss over time<\/li>\n
Donated Property:<\/strong> Transferred to NAU at no cost<\/li>\n
Gift:<\/strong> Equipment gifted to the University, recorded at fair market value at date of Gift<\/li>\n
Inventorial Equipment:<\/strong> Assets with NAU ID# or designated by sponsor\/grantor<\/li>\n
Lease:<\/strong> Right to use property; title remains with lessor<\/li>\n
Lease\/Purchase:<\/strong> Lease with option to purchase<\/li>\n
PCA:<\/strong> Property Control Authorization form<\/li>\n
Surplus Property:<\/strong> Excess items not needed by department<\/li>\n
Tag:<\/strong> The act of affixing or otherwise identifying University equipment with a University property control number<\/li>\n
Trade-in:<\/strong> Used equipment applied to new acquisition cost<\/li>\n
University:<\/strong> Northern Arizona University<\/li>\n<\/ul>\n\n
\n
<\/p>\n
Forms<\/h4>\n
\n
Property Control Authorization form<\/a><\/li>\n
Off Campus Use Form<\/a><\/li>\n<\/ul>\n
<\/div>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"
Property Control The Property Control Department oversees the management, tracking, and proper handling of all University assets. Its responsibilities include: Tagging newly acquired capital equipment with a unique identification number (Property Control Number) and recording the asset in the property control system. Managing annual physical inventories of all capital equipment, including conducting spot checks. Maintaining […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","ring_central_script_selection":"","footnotes":""},"class_list":["post-12","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/in.nau.edu\/property-administration\/wp-json\/wp\/v2\/pages\/12","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/in.nau.edu\/property-administration\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/in.nau.edu\/property-administration\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/in.nau.edu\/property-administration\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/in.nau.edu\/property-administration\/wp-json\/wp\/v2\/comments?post=12"}],"version-history":[{"count":0,"href":"https:\/\/in.nau.edu\/property-administration\/wp-json\/wp\/v2\/pages\/12\/revisions"}],"wp:attachment":[{"href":"https:\/\/in.nau.edu\/property-administration\/wp-json\/wp\/v2\/media?parent=12"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}