{"id":12,"date":"2018-06-21T03:27:14","date_gmt":"2018-06-21T10:27:14","guid":{"rendered":"http:\/\/vendor.hub.wp.nau.edu\/property-administration\/property-control\/"},"modified":"2026-07-01T14:26:15","modified_gmt":"2026-07-01T14:26:15","slug":"property-control","status":"publish","type":"page","link":"https:\/\/in.nau.edu\/property-administration\/property-control\/","title":{"rendered":"Property Control"},"content":{"rendered":"

Property Control<\/h1>\n
The Property Control Department<\/strong> oversees the management, tracking, and proper handling of all University assets. Its responsibilities include:<\/p>\n
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Tagging<\/strong> newly acquired capital equipment with a unique identification number (Property Control Number) and recording the asset in the property control system.<\/li>\n
Managing annual physical inventories<\/strong> of all capital equipment, including conducting spot checks.<\/li>\n
Maintaining accurate records<\/strong> of capital assets, including location, acquisition date, value, and any improvements or upgrades.<\/li>\n
Supporting audits<\/strong>, including those by the Auditor General\u2019s Office, the Arizona Board of Regents (ABOR) and the University.<\/li>\n<\/ul>\n
Asset Recording and Cost<\/strong><\/p>\n
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Fixed assets are recorded at cost<\/strong>, which includes all normal and necessary expenses to make the asset operational. Ancillary costs include freight, sales\/use taxes, installation, assembly, and testing charges<\/strong>.<\/li>\n
All assets with an original acquisition cost of $5,000 or more<\/strong>, must be physically tagged<\/strong> and recorded in the University\u2019s asset inventory system. Sales\/use tax, freight, and installation costs associated with any capital purchase are considered part of the value of the equipment.<\/li>\n
Inventory records contain: original cost, net value, funding source, purchasing document number, acquisition\/disposal date, current location, serial\/model number, useful life, last inventory date, and vendor.<\/li>\n<\/ul>\n
Assets That Require Tagging<\/strong><\/p>\n\n
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