Asset Ownership

Capital assets are acquired through the purchasing process in the Finance System. Once the item has been categorized as a capital asset and the PO is completed, we can track the asset during its lifecycle at the university.

Acquiring Assets

Ownership of an asset is identified by the object code used on the asset. The “Edit Asset” e-doc is used to update information. The "Asset Retirement Global" e-doc is used to record a trade-in, loss, discard, cannibalization or destruction of an asset. Use the "Asset Transfer" e-doc to transfer an asset to another department or to the MSU Surplus Store for sale or disposal.

Assets that are loaned to the university by government agencies are considered government-owned equipment and are identified as such on the Consignment Gift form that accompanies the loaned equipment. Government-owned equipment requires a "Property of U.S. Government" label.

See the Manual of Business Procedures, Section 224 for detailed information about Capital Asset Management.