Asset Management |
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Space Inventory. Asset Management maintains the University's Space Allocation System. This system is used to track the function of each of the University's approximately 7.7 million square feet of interior space. The inventory is critical for many purposes, including the University's negotiated Facilities & Administration Rate (F & A or Overhead). Equipment Inventory. University policy defines capital equipment as any single item valued at $5,000 or greater and having a useful life of two or more years. Items meeting these requirements are tagged with a UDTag and recorded in the Asset Management system. In addition to a description of the item and the UDTag number, the Asset Management system also tracks the value and the physical location of each item. When an item meeting the capital equipment definition is purchased, Asset Management provides the department with the UDTag and a tag slip describing the equipment. The department reviews and updates the tag slip, indicates the physical location of the equipment, and returns the updated tag slip to Asset Management. If the value of the equipment is $50,000 or greater, a representative from Asset Management will tag the item and record the necessary information. When a piece of equipment is moved from one location to another, the department is expected to complete an online Equipment Relocation Form. These forms update the Asset Management System and ensure that an accurate inventory is maintained. The equipment relocation webform is currently being developed. Until the form is available for use, please e-mail Karen Brown with all changes. Each year, departments are required to complete an Annual Survey of both their equipment and their space. Questions about Asset Management can be directed to asset-mgt@udel.edu or (302) 831-8951. |
