University Policies

Policy Number: 302.1.2

Policy: Property/Equipment - Capital Assets

Date Adopted: 04/96

Revision Date: 1/04

References: OMB Circular A-21, MOM 1-0700, Delegation of Authority

Approved By: Robert A. Duringer, Vice President for Administration & Finance

The University of Montana must maintain accurate property/equipment ("capital asset") records that identify property/equipment of the University, as well as control systems to provide adequate safeguards to prevent loss, damage, or theft of capital assets.

Capital assets and property/equipment of a relatively permanent nature with an expected useful life of more than one year and a unit cost that meets or exceeds the following:

• Buildings $ 25,000
• Building Improvements $ 25,000
• Equipment $ 5,000
• Infrastructure $500,000
• Intangible Assets (software) $ 5,000
• Land (no minimum)
• Land Improvements $ 25,000
• Library Books & Materials (no minimum)
• Museum & Art Collections $ 5,000

It is the policy of the University to conduct periodic inventories of all property/equipment. Business Services - Property Management conducts such inventories- at a minimum- on a biennial basis.

Policy Procedures