Chapter 3: Records
Records (Functional Area)
Accounting Services maintains the property records for the University. These are the official property records for all capital and non-capital equipment. Departmental systems will not be recognized as an official means of documenting property for the University. These records also include government owned property and property in the possession or control of a subcontractor. Equipment that is fabricated at the University will be recorded when Accounting Services is notified that the fabrication is complete.
Property records are prepared and maintained in the Banner fixed asset system. Receiving reports, invoices, purchase orders, legal documents and capital asset photos are detail including location, date of purchase, net book value, model and serial numbers, and manufacturer of each asset is individually recorded. These property records reflect the requirements by the Federal Acquisition Regulations (FAR Part 45).