University Policy 6270
Download a Printable Version of Policy 6270
Effective Date
August 1981
Last Revision Date
March 25, 2024
Responsible Party
Fixed Assets, fixedassets@boisestate.edu
Procurement and Vendor Services, p2p_procurement@boisestate.edu
Campus Operations, Campus-Operations@boisestate.edu
Scope and Audience
This policy applies to equipment, materials, and Capital Assets belonging to the university.
Additional Authority
- Idaho Code §§ 67-5722, 67-5732A, 67-5746,
- Idaho State Board of Education Policy, Section V.I. (Real and Personal Property and Services)
1. Policy Purpose
To outline the requirements for the inventory, tagging, and recording of equipment, materials, and Capital Assets in the Property Inventory System, and to outline the requirements for the disposal, reporting of lost and stolen items, and collection of export control classification numbers.
2. Policy Statement
Boise State University is committed to ensuring the proper use, safety, and control of its equipment, materials, and Capital Assets. The University complies with state regulations and Idaho State Board of Education policies for inventory control, disposition, and reporting as well as specific requirements related to grants and contracts.
3. Definitions
3.1 Capital Assets
Tangible assets acquired for use in normal operations with a value equal to or greater than $5,000 and with a useful life greater than one (1) year, Capital Assets include items of property and equipment, such as buildings, office furniture and fixtures, and library collections, computers and other related technology equipment, including fabricated assets. For a complete list of Capital Assets, see the Fixed Assets and Inventory Control website.
3.2 Tracked Assets
Non-Capital Assets with a purchased value between $2,000 – $4,999.99 and with a useful life greater than one (1) year. These assets are not capitalized for financial statement purposes but are required to be tracked in the Property Inventory System for inventory purposes.
3.3 Property Inventory System
The official system of record for University-owned Capital Assets and Tracked Assets.
4. Ownership of Capital and Tracked Assets
a. Boise State University owns all assets purchased with University funds and assets received as gifts/donations.
b. Title to items purchased with funds from a grant or contract may not vest with the university; however, the university exercises the responsibilities of ownership for equipment and materials.
c. University departments, units, and employees do not hold proprietary interest in any equipment and materials. The principle of university ownership prevails regardless of which department or unit ordered the item, the fund cited, or the budget expensed.
5. Responsibilities
5.1 Fixed Assets and Inventory Control Department Responsibilities
The Fixed Assets and Inventory Control Department is responsible for providing direct administrative support to the colleges, schools, divisions, departments, and units regarding control and tracking of Capital Assets and Tracked Assets. This includes tagging assets, assisting with inventories, record keeping, general ledger reconciliation, and working with external auditors.
5.2 President/Vice President/Dean Responsibilities for Equipment, Materials, and Capital Assets
The president/vice president/dean, or designee/custodian, is responsible for safeguarding and maintaining equipment and property assigned to or under their control; ensuring that all equipment, materials, and Capital Assets are installed in a suitable environment with the ability to operate safely; and ensuring that an inventory is completed once each fiscal year for all assets recorded in the university’s Property Inventory System (see section 12 – Equipment, Materials, and Capital Asset Control Requirements and Idaho Code § 67-5746).
6. Fabricating Assets
Under certain limited circumstances, it may be necessary for a department to fabricate a Capital Asset from separate components or parts, some or all of which may have a unit cost of less than $5,000, but in which the asset’s total combined value is greater than $5,000. When this situation arises, the department that intends to fabricate the equipment must inform the Fixed Assets and Inventory Control Department prior to starting the process to determine if specific criteria to classify the project as a Capital Asset has been met. Additional information related to fabricated assets may be found on the Fixed Assets and Inventory Control website.
7. Donated Items
Items donated to the University must go through the University Foundation and include an estimated fair market value provided by the donor at the time of the donation. Those items with an estimated fair market value of $2,000 or more must be reported upon receipt to the Fixed Asset Department, assigned a tag number, and entered into the Property Inventory System. For more information on donated items, visit the University Foundation website.
8. Expense and Asset Account Codes
Questions about equipment or property account coding should be directed to the Fixed Assets and Inventory Control Department at fixedassets@boisestate.edu.
9. Sponsored Projects
Equipment and property purchased with funds from a sponsored project may have additional usage and disposition restrictions. For questions related to equipment and property purchased with sponsored funds, contact P2P_Procurement@boisestate.edu.
10. Infrastructure and Operation Review
a. To ensure that adequate facilities, utilities, engineering controls, or other elements impacting the safe housing and operation of equipment and materials are in place, departments must consult with and receive approval in writing from Facilities Operations and Maintenance and the Office of Chemical and Lab Safety prior to the acquisition, installation, or disposition of any research, lab, or other equipment or materials that may pose a health or safety risk if not installed in an appropriate environment.
b. Any asset requiring modifications, building permits, or design documents to existing Capital Assets must be reviewed and approved in writing by Architectural and Engineering Services before such asset may be modified.
11. Equipment and Materials Receiving
a. When possible, equipment and materials should be delivered by the supplier to Central Receiving. Central Receiving will document Tracked Assets received in the Property Inventory System and affix a property tag or assign a tag number.
b. The Fixed Assets and Inventory Control Department must be notified when an item such as furniture or large equipment is delivered directly to the department or unit so the item can be affixed with a property tag or assigned a tag number and recorded in the Property Inventory System.
12. Equipment, Materials, and Capital Asset Control Requirements
12.1 Tagging
Capital Assets and Tracked Assets must be affixed with a property tag or assigned a tag number and entered into the Property Inventory System.
12.2 Export Control Classification (ECC) requirements
a. For purchases of scientific, technical, or engineering items, Procurement and Vendor Services will request the export control classification in writing from the vendor. For scientific, technical, or engineering items donated or loaned to the University, the acquiring or possessing department will request the export control classification in writing from the party who transferred the item to the University. Scientific, technical, or engineering items include items listed on the U.S. Munitions List or Commerce Control List.
b. The export control classification documentation, if received from the sender, must be maintained by the requesting department for recordkeeping. The export control classification, if received, must be noted in the Property Inventory System (see section 11 – Asset Receiving).
12.3 Damaged, Lost, or Stolen Asset Reporting Requirements
a. A Property Loss Report must be filed with the Office of Risk Management and Insurance.
b. Capital Assets and Tracked Assets must also be reported to the Fixed Assets and Inventory Control Department on the Report of Lost, Missing, or Stolen Equipment form.
c. If any equipment or materials are deemed to have been stolen or vandalized beyond use, the department head, or designee, must report it to Campus Security and the Boise Police Department in complete detail.
12.4. Disposal of Asset Requirements
a. A department that no longer has use for certain assets, or deems any asset to be in unusable condition, must report such asset, regardless of condition, to Procurement and Vendor Services via the Request for Disposal of Excess Inventory Items form (See the Idaho State Surplus Property Policy and Procedures for more information).
b. For disposal of real property (e.g., buildings, structures, and parking lots used by the university to assist in its operation), special rules apply. Contact the Office of Chief Financial and Operating Officer and Vice President for Finance and Operations for questions about real property disposal.
12.5. Equipment and Materials Removed from Campus
a. Generally, University equipment and materials that are part of the university’s inventory should not be removed from campus for personal use. Exceptions include items checked out from departments or units authorized to loan equipment, including Albertsons Library and Learning Technology Solutions, and equipment and materials used for an employee to telecommute or work remotely (see also University Policy 7600 – Telecommuting).
b. Departments may allow off-campus use of equipment and materials following the criteria below:
- The equipment or materials must be used for University business that is within the scope of the employee’s job duties,
- The department chair/head or supervisor must approve the off-campus use of the equipment or materials (approval documentation including where the equipment or materials are located should be kept on file), and
- The equipment or materials must be returned to campus for any needed repair, maintenance, or upon the employee’s separation from the university.
c. University equipment and materials are covered off-campus subject to a deductible per covered loss. Optional Inland Marine coverage is available for certain property that is frequently transported or subject to theft or breakage. Details on the Inland Marine coverage are available on the Risk Management and Insurance Office website.
13. Forms
Property Loss Report – Risk Management and Insurance
Report of Lost, Missing, or Stolen Equipment Form
Request for Disposal of Excess Inventory Items
14. Related Information
Optional Inland Marine Coverage – Risk Management and Insurance
University Policy 7600 (Telecommuting – Hybrid)
University Policy 7605 (Telecommuting – Remote Work)
Revision History
January 2008; August 02, 2022; March 25, 2024