OVERVIEW

The Fixed Asset Master Maintenance Form is typically the starting point for creating fixed asset records.  It is also used to convert origination tags to permanent tags, or to update existing asset records. This form consists of a main window and six additional windows for entry of asset details and user-defined attributes. Use the main window of this form to enter the tag number and select the action to be taken.

OPERATING PRINCIPLES

1. Please refer to the attached Appendix A – The University of Montana Capital Asset Policy for a summary of all policy statements applicable to the use of this form.
2. The asset types and chart of account codes used on the FFAMAST form must comply with the attached Appendix B – Fixed Asset Account Code Relationships. 
3. Please refer to the attached Appendix C – Classification of Property by Type to make sure the asset type is properly assigned. 
4. In general, improvements or additions to existing buildings are considered components and will depreciate on their own schedule rather than that of the existing building.  Improvements or additions to existing equipment are considered attachments and will depreciate on the schedule of the original/primary equipment record.  However, when the amount of an improvement or addition to either a building or a piece of equipment is material, please contact Business Services Property Management or Accounting Services for assistance with entering the asset record.

Contact Business Services Property Management for more information.