Removing Assets

When a capital asset is no longer needed or usable, the department that owns the asset is responsible for properly removing the asset and updating the asset record in KFS.

Assets should be transferred if the asset:

• Is used by another university department
• Will be externally sold or donated (transfer to the MSU Surplus Store)
• Will be destroyed or discarded (transfer to the MSU Surplus Store)

Asset retirements are required when an asset:

• Is no longer functional
• Will be cannibalized for parts by the owning department
• Has been lost, stolen, or destroyed (with or without malicious intent)