Capital Assets

Procedure

For questions on purchasing capital equipment, see Asset Acquisition

Capital assets are purchases of equipment or property with a useful life greater than 1 year and are of sufficient high value that meets the minimum value thresholds.

Capitalization Thresholds

At the beginning of every month, the Asset Manager will run reports for all new capital purchases to capitalize and assign a property tag number to the asset based on funding source (M1 for state funded, M8 for grant funded, and M9 for Foundation donated assets). New assets must be viewed and tagged by AM.
Assets and equipment purchased through state funds and grant funds are property of the University unless noted in grant contract. They may not be taken to another institution, and are not to be kept at the end of their use. See Personal Use policy

In accordance with state laws, physical inventories must be completed every biennium (2 years) for tracking all equipment owned by the University. The AM will contact departments to schedule a walkthrough for capital equipment inventory, according to an internal schedule developed by Asset Management. If you have a preferred time to schedule, please contact AM
Note: with 200 departments on campus, some flexibility will be required.

 

 

Contacts

For questions or concerns on capital assets/equipment, inventories, and surplus property disposal/transfers, please contact:

Patrick Fagan
Capital Asset Accountant 
Business Services
(406) 243-5742
Patrick.Fagan@mso.umt.edu

For questions or concerns on surplus property acquisition, sales or accessibility, please contact:

Chris Newlon
Facilities Services – Maintenance
(406) 243-5200
Chris.Newlon@mso.umt.edu