Fixed Assets is tasked with tracking
University equipment from the time it is
purchased until it is disposed of in
accordance with NCSSPA rules and
regulations
This includes:
– Recording/updating identified assets in Banner.
– Physically tagging equipment
– Reporting results to Comptrollers office
– Performing annual inventory spot checks
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Equipment with a purchase (or donation/gift) cost
of $5,000 or more and useful life of 2 or more
years is capitalized...all University funds
EDP equipment (computers/laptops) with a
purchase cost of $2,500 or more is tracked...all
funds but not capped
All Grants $3000-$4999 are tagged but not
capped.
Note: Departments are responsible for tracking all
assets, equipment, and supplies below these
thresholds via an internal process
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Banner Account Codes – used on purchase orders,
and any equipment expenditure
When invoices are paid against a Capital
equipment account code, Banner creates an O-tag
that is extracted to the Fixed Assets’ System
Fixed Assets reviews PO, invoice, etc. and
identifies FA’s.
Tagging appointment is scheduled and location of
equipment is verified at that time.
Based on unit cost ~
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Is the unit cost less than $500? If so, code the item
to a supply code (this includes software)
Is the unit cost $500 but less than $5,000 and a
useful life of two or more years? If so, code the
item to the appropriate non-capital equipment code
Is the unit cost $5,000 or greater? If so, the
equipment is coded to the appropriate Capital
equipment code. These purchases are capitalized
and tagged by ECU Fixed Assets
If using trade in monies, if the balance of the
equipment is under $5000, but the total cost is
over, code it as a fixed asset.
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A complete listing of all Banner Account
Codes is available via the System’s
Coordination website at
http://www.ecu.edu/syscoord/
• ODS Quick Queries
 Banner Account Descriptions
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Fixed Assets provides an Equipment Account
Code listing on our website at
http://www.ecu.edu/csadmin/purchasing/centralstores/FixedAssets.
cfm
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Property Equipment Tracking System is in place to
provide a method of turning in items to Surplus.
When entering an item that is a FIXED ASSET take
care to include the ECU tag number and a serial
number.
Every item receives a PETS tag, which is a bar code
label. Do not put in multiples, use the clone
option.
Keep a copy of the DR for your records.
This tag provides a means of tracking the item
until it is disposed of.
 Remember, ALL material, equipment or supplies
purchased with ANY University fund is the property
of the State.
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If the item is a Fixed Asset, this is the type of tag you are
looking for.
Do not only enter a serial number, this will not relieve the item
form your inventory.
When the DR is handed into our office, we transfer the Fixed
Asset to 230605, Surplus.
It is now out of your inventory and will not appear on the
FYYF139.
If it is still on your organizations inventory, these steps were not
followed.
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Used equipment can be offered as a trade-in allowance
when soliciting bids or on small purchases
Trade-in must be pre-approved by State Surplus Property
Property Trade-In Form and the quote is submitted to
Fixed Assets to initiate the approval process. When
approved, it is attached to the requisition when submitted
to Materials Management.
Materials Management will need to know up front that
the department has equipment they wish to trade in.
The correct account code needs to be used, taking into
account the total cost of the item, including the tradevalue.
The equipment cannot be released or transferred to the
vendor until approved by State Surplus and properly
documented by Fixed Assets.
Contact Laura Williams 328-9931
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All monies stay in the department
◦ For all practical purposes, you are
selling the old equipment to the vendor.
◦ When the purchase order processes, the
Fixed Asset is disposed of, eliminating
the need to enter it into PETS.
An item does not have to be a Fixed
Asset to be used as a trade in.
Approval from NCSSPA is still
mandatory.
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Please contact us
Laura Williams at 328-9931
williamsl@ecu.edu
Renee’ Griffin at 328-9863
griffinde15@ecu.edu
Thank you for attending
We welcome your feedback and input