UCOP and Federal Regulations require that campus departments perform a physical verification of all capitalized assets listed in the UCSF asset management database system every two years. This is essential for continued Federal, State, and private donor funding of operations and research projects. Equipment custodians are charged with conducting the physical inventory on a biannually-scheduled basis.
Equipment Custodians are assigned by departments and are responsible for providing current equipment information including physical location, custody code, disposal, and sales. When a new custodian is assigned responsibility by a department, a completed Custodian Maintenance Form should be submitted to Capital Accounting.
We highly recommend the following steps for new Equipment Custodians to become familiar with the acquisition, use, upkeep, tracking and disposition of capitalized assets:
- Take the “Capital Asset Management - Capital Equipment Custodian Online Training" immediately upon being assigned the Equipment Custodian role. This online training is available in the UC Learning Center.
- Review the Equipment Custodian Guide and other Capital Equipment & Accounting How-To articles to become acquainted with the processes involved.
- Review all pertinent policies including BUS-29: Management and Control of University Equipment, and if appropriate, any funding agency policies and guidelines.
- Review the EIMR form used to report capitalized assets that have been lost, stolen, destroyed, moved off of UCSF premises or to a new location and the Custodian Maintenance Form used to reassign equipment custodian responsibility.
- Learn how to perform your physical verification of capitalized assets
- Read Supply Chain Management's guidance on Capital Purchases.
Additional resources of interest to equipment custodians include:
- Physical Inventory Schedule - lists equipment custodian, department, and start date for the two-year physical inventory cycle
- Building Codes - lists building, street address, and building code
- Equipment Account Codes - lists the description for each equipment related Account code
- Useful Life Indices for Equipment Depreciation - links to the schedule maintained on the University of California, Office of the President (UCOP) Purchasing Services website. You can search by Capital Sequence Index, EQ Code Sequence Index, or keyword.
- Viewing Asset Management Reports in MyReports
If you have any questions or need additional guidance, contact a Capitalized Asset Management team member.