Fixed Assets Recording

• Fixed assets are defined as meeting one or more of the following criteria
  • New building construction
• Renovations to buildings and equipment that extend the useful life
• Equipment having a cost of $5,000 or more (per item) with an estimated useful life greater than one year (whether purchased outright or via capital lease)
• Software acquisitions having a cost of $5,000 or more (per item) including the costs to install and implement (both new software and vendor upgrades) with an estimated useful life greater than one year
• Safeguarding of University equipment
  • Moveable equipment purchased by Colleges and Schools barcoded for tracking purposes
  • Biannual inventory of moveable equipment performed to verify
    • asset's existence, use and need
    • location (building and room)
    • responsible department
• If moveable equipment being removed from Jefferson or transferred to another Jefferson department/location at time other than the University biannual inventory, update via PeopleSoft Asset Manager self-serve
• Contact us with University and JUP fixed assets questions including:
  • what assets assigned to my department
  • what assets purchased from a particular project
  • what assets located in a particular room
  • what is an asset currently worth