Asset Management
The Asset Management module, which is part of the M-Pathways Physical
Resources System, maintains information about equipment that the University
owns including its value, location, and more. On central campus,
the Property
Control Office and the Plant Fund area in Financial
Operations administer the Asset Management module. For Hospital
and Health Services, the UMH Facilities Administration and the Hospital
Accounting Office administer the Asset Management module.
U-M uses the Asset Management module to officially record and track
the following two types of equipment assets, which are distinguished
by dollar amount:
- Financial Assets include moveable equipment valued
at $5,000 or more or non-moveable assets, such as buildings and land.
These assets are centrally tracked and capitalized. Moveable equipment
is also centrally tagged and depreciated.
- Campus Assets are assets valued between $1,000 and
$4,999.99. These assets are not capitalized or depreciated. No accounting entries are generated
for Campus Assets because they are not subject to capitalization and
depreciation. Examples include computers, printers, copiers, and so
on.
Asset Management data enables the University
to assess its financial position more accurately and to plan for major
replacement purchases. Units that use the Asset Management module can
obtain information about everything from computers, white boards, and
fax machines to million dollar microscopes.
Units can view information about assets that
was entered through the Procurement module or ordered from M-Stores
or on a P-Card. Units can enter additional details about assets and
they can verify and correct details such as asset location, contact,
attributes, manufacturer, model,
and serial number. Data from the Asset Management module is imported
into the U-M Data Warehouse, and units can run predefined and customized
reports against this data.
For information about disposing of assets, see
the Property
Disposition Office.
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