At MSU, a capital asset is defined as:
CAM sends asset audit notices to Role 6 CAM Processor, as assigned by departments in EBS. If you are assigned as a Role 6 CAM Processor incorrectly, please check with your department and update your role assignments via a TeamDynamix form.
CAM works with Role 6 Processors based on the department assigned ownership for all asset records. Role 6 Processors are responsible for:
Ensuring physical maintenance of all departmental assets, including affixing asset tags
Learn more about being a Role 6 CAM Processor in this CAM tutorial.
The condition of a capital asset can be updated as part of a inventory process; however, it doesn't affect the depreciable value. As such, the Capital Asset Management team will use a default condition of "good" unless the department requests an updated condition at the time of barcode scanning during a CAM-assisted inventory.
Yes, the CAM team will physically verify all of the assigned capital assets that are located on campus. For assets that are located off campus, pictures(s) of the asset and its tag should be sent to CAM during years that the department is assigned to a CAM-assisted inventory process.
All capital asset audits require the completion of a Annual Asset Inventory Certification form (.pdf). Additionally, CAM provides two tools to assist departments conducting their own inventory:
Complete physical inventory instructions are available on our website.
The actual physical inventory process is conducted for MSU departments on an alternating year basis by CAM. Notification letters will be sent to the department's designated processor if it’s your year to conduct the inventory.
Only those assigned the Role 6 CAM Processor in EBS can edit asset records in KFS. Run the CAM020 - CAM Processor Lookup report in Cognos/BI to find your departmental Role 6 Processor.
Not assigned as the CAM Role 6 Processor in EBS? Submit a TeamDyanamix request to MSU IT.
Departmental Role 6 CAM Processors can run a CAM021 - Moveable Asset Inventory report in Cognos/BI, which identifies all assets owned by the department.
Items that fit the definition of a capital asset but are valued at less than $5,000 at the time of purchase are considered non-capital assets. Learn more about tagging and creating non-capital asset records.
When a capital asset is no longer functional, is being externally transferred, or has been lost, discarded, cannibalized, stolen, and/or destroyed, it should be removed from the CAM system via asset retirement. Learn more about retiring capital assets.
Updating a capital asset’s location does not impact ownership of the asset or inventory responsibility. Transferring an asset to a new department owner will update who is responsible for inventory. Neither location updates nor transfers impact the general ledger or payments of the asset record. Learn more about asset transfers.
If an asset tag (also known as a barcode label) is replaced, the Role 6 CAM Processor is responsible for updating the asset record with the new tag number.
Please contact the CAM team for assistance in resolving unidentified capital assets.
Yes. Please contact the CAM team for assistance.
During the purchase requisition, use capital asset object codes to ensure a capital asset record is created in KFS.
Unsure whether your purchase should be considered a capital asset? View the capital asset decision tree.
A movable asset is an item of non-expendable, tangible, personal property that has an aggregate acquisition cost or fair market value of $5,000.00 or more, is free-standing, movable, is complete in itself, does not lose its identity when affixed to or installed in other property and has a useful life greater than one year. Equipment, although it may require a building-related power source to function such as plumbing and/or electrical support, meets this criteria and is considered “movable” if they are free-standing and can reasonably be separated from a non-movable capital asset and relocated or sold/disposed of. Generally, equipment that is attached to a building is capitalized as movable equipment when removing the equipment does not cause structural damage to the building and will not destroy the equipment.
A non-movable asset is an asset with an acquisition cost of $500,000 or more that cannot be relocated, or if they meet the criteria for intangible assets or collections. Primarily, non-movable assets are land, buildings, building improvements, permanent artwork (i.e. sculptures), and intangible assets (internally developed software, etc.).
Yes. Please contact the CAM team for assistance.