Welcome to Property Management
Property Management February 2015 Newsletter
The Property Management Department manages all moveable capital equipment located on each campus of Boston University and numerous off-campus sites. Capital equipment is any tangible, non-expendable property that has a useful life of one year or greater with a cost of $5,000 or more. The Department identifies, locates, and photographs each piece of equipment. This information is entered into the Property System and the records are maintained throughout the equipment’s life cycle.
Information maintained in the Government-approved Property System supports various areas of the University. Maintenance of the System ensures accurate depreciation, adequate insurance coverage, and efficient utilization of property. This includes items that are leased, loaned, donated, or transferred to the University, as well as equipment purchased with either restricted or unrestricted funds. The Property System also tracks the funding source and owner title of each piece of equipment. This allows for the proper and timely completion of reports on active awards. As mandated by Government regulations, the Property Management Department also completes a capital equipment inventory every two years to ensure that all records are current and correct.