Policy & Procedures – Fixed Asset System

Fixed Assets System

Equipment records are kept in the fixed assets system. This system is a module in the Financial Records System (FRS). Each equipment record contains the following information:

  • name of item or brief description
  • specific location (building number and room number)
  • department or unit responsible for custody
  • name or manufacturer or vendor and address
  • identification number
  • manufacturer’s serial number
  • date acquired
  • method of acquisition
  • complete expenditure coding (fund, sid, subcode, function)
  • source of funds (restricted or Federal funds)
  • CFDA number (if applicable)
  • cost – actual cost and ancillary charges (installation, freight, transportation charges, site preparation, professional fees, and legal claims directly attributable to asset acquisition). All charges necessary to place the asset in its intended location and condition for use; estimated cost – if there is lack of original documentation
  • purchase order number
  • fair market value or appraised cash value at time of receipt of items either donated or received as surplus U.S. Government property or surplus State property
  • useful life (in months)
  • prior year and current year depreciation
  • date of disposition method

If you would like to request an inventory listing for your dept that includes any of the above fields, please send an email to inventorycontrol@uconn.edu.