Due to the COVID-19 pandemic the Property Management team is currently working from home and has suspended all on campus activity, including tagging of all capital equipment. Physical tagging of capital equipment will resume once we return to campus.
The Property Management team will continue to process all ARIBA requisitions and create new equipment records. These records will include all information incorporated in the requisition. Listing the exact locations of any new capital equipment in your requisitions is critical and is necessary in order to expedite the tagging process once we return to campus. Equipment records listed in the Property database will include the assigned Boston University bar code tag number. These new assets will be included in the University’s financial records.
Contact the Property Management team with any questions at firstname.lastname@example.org
Fabrications – Assets Under Construction
Fabrications are still being constructed and still require a child account / internal order number when a sponsored research account is being used as the funding source. Once a child account is created by Sponsored Programs please contact Property Management for a Fabrication Application to ensure the fabrication can be capitalized and depreciated.
Once the fabrication has been completed please notify Property Management. We will then begin the process to capitalize the new equipment.
Please contact Property Management with your questions or concerns at email@example.com.
What is Property Management
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 Property 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.
General Ledger Accounts
Find the General Ledger Account codes you need provided by the Comptroller on the comptroller website.