Creighton University
Accounting Policies
POLICY TITLE: | Fixed Asset Tagging | POLICY NUMBER: | FAPL 02 |
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DATE ISSUED: | July 1, 1993 | DATE REVISED: | February 3, 2012 |
All fixed assets with an original acquisition cost of $5,000 or more will be identified and tracked in the University's Fixed Asset system. This will be accomplished by attaching a pre-numbered tag to each asset identifying it as "Property of Creighton University."
Since personnel in the department that purchased the asset are most knowledgeable about its location and physical appearance, the tags will be sent to the contact person designated by the department chair/administrator to attach the tags to the new assets. The Controller's Office is responsible for recording the purchase of the asset, forwarding the appropriate tag(s) to the department and verifying that tags have been correctly attached on a timely basis.