Property and Equipment / Inventory


Property and Equipment / Inventory

Why does UCCS Track and Maintain Property/Equipment and Inventory? To maintain the integrity of the UCCS Financial Statements is to include accounting for property, capital equipment, and assets (property) over $5,000 with a useful life over one year.  Also, software costing $5,000 or more with a useful life over one year needs to be accounted for.  Property control is a core business function. Maintaining the accuracy of property records requires interdepartmental cooperation and shared efforts. 


What are the UCCS Procedures for Property/Equipment? As a public institution of higher education, the University of Colorado Colorado Springs is subject to the property standards developed by the US Office of Management and Budget. These standards are noted in OMB Uniform Guidance Section 200.310-200.316. 

In addition to adherence to federal guidelines, UCCS has a Capital Equipment Standard Operating Procedures as it relates to our campus and its internal function. Please review the document here.

UCCS uses the following account codes to record Capital Assets:

  • 810100 - Equipment>=$5,000
  • 810200 - Equipment>=$5,000 Govt Title
  • 810350 - Software>$5,000
  • 810402 - Art & Non-Depreciable Collections
  • 810700 - Fabrication Equip Components
  • 810800 - Federal Fab Equip Components

Questions regarding these procedures may be directed to the contact person listed below. 


 Where can I download the UCCS Forms and Procedures for Property and/or Equipment?

Capital Equipment Standard Operating Procedures

Electronic Disposal Process

Equipment Loan Agreement Form

Equipment Borrowing Agreement Form

Equipment Transfer Form

Inventory Adjustment

Asset Log

Off-Campus Use of University Equipment




What Methods Can UCCS Acquire Property and/or Equipment?

  • Direct Purchases
  • Gifts and Donations to the University
  • Lease Purchases
  • Fabrications or Constructions
  • Government Surplus/Excess
  • Transfers from other Universities or Institutions
  • Transfers from Contract or Grant Sponsors  



Regardless of how property is funded or acquired, title to all property rests with the University or research sponsors rather than with a department, and must be tagged, capitalized, and inventoried. Each piece of capital equipment requires a CU tag number in the PeopleSoft Asset Management (PSAM) System.

If you think a piece of equipment should have a tag, and it doesn't, please contact the Controller's Office. 


What Information is Required for Each Asset in PSAM?

  • CU Tag Number
  • Asset Identification
  • Asset Description
  • Manufacturer
  • Model number
  • Serial#
  • Asset Location
  • Department Custodian (Assignment of Responsibility)
  • Asset Acquisition Code (SpeedType)
  • Acquisition Method/Reference Number (Ex: PO, Donation, Etc.)
  • Date of Receipt
  • Account Code  


What should I do if I need to dispose of an asset? Submit a work request through Facilities Services. Work Orders can be submitted online here.  

Facilities will inform Accounting when it is a piece of capital equipment. Why do we do all of this? Equipment records are required for State, Federal, and other agencies; University financial reports; insurance purposes; budgets; and equipment control and utilization purposes. For more information, check out our Capital Equipment Standard Operating Procedures.  



Additional Resources

Facilities Services Work Order:

OMB Uniform Guidance:

Export Control Webpage:



Mary Lile 
(719) 255-3703       



Last Reviewed on 12/15/2021