University of California (UC) policy BFB-BUS-29: Management and Control of University Equipment (opens in new window) requires the department and its Equipment Custodians to conduct a complete physical inventory of all property assigned to a faculty member or Principal Investigator (PI) who is separating from the University. All discrepancies must be reported to Capital Accounting for further review.
In no case may the departing faculty member or PI remove University property without first obtaining the appropriate written approvals as outlined in UC policy BFB-BUS-38: Disposition of Excess...
April 1, 2023, begins the next biennial cycle for the physical inventory process. Department Finance Administrators and their Equipment Custodians should review the updated 2023-2025 Physical Inventory Custodian Schedule on the Controller’s Office website.
Additional guidance on performing physical verification of capital assets and Equipment Custodian responsibilities are available on the Controller's Office website. You should also review all pertinent policies, including BUS-29: Management and Control of University Equipment (opens in new window), and if appropriate, policies and...
April 1, 2021, begins the next biennial cycle for the physical inventory process. Department Finance Administrators and their Equipment Custodians should review the 2021-2023 Physical Inventory Custodian Schedule on the Controller’s Office website.
We are continuing to accommodate departments impacted by COVID-19 restrictions where Equipment Custodians and other staff involved in the inventory process may be working remotely. When you receive notification to begin your scheduled inventory, please notify Capital Accounting if there are any circumstances preventing completion of the inventory...
Capital Accounting has recently updated the how-to guide, Disposition of Capital Equipment, which describes current campus policy and procedures for disposing of University-owned equipment.
Policy Reminder: Equipment Handling upon Separation or Transfer of a Faculty Member or Principal Investigator
University of California Policy BFB-BUS-38 governs the disposal of University property. It outlines procedures for the transfer of University-owned property in connection to a faculty member's or Principal Investigator (PI)'s move to an external institution, including other UC locations....
As previously communicated, enhancements to the PeopleSoft Asset Management system went live on June 24, 2019. Equipment Custodians and their delegates can now initiate and track the Equipment Inventory Modification Request (EIMR) process online. Paper-based EIMR forms will only be accepted by Capital Accounting through August 30, 2019. Refer to the updated Equipment Custodian Guide and the new PeopleSoft Asset Management Custodian Manual for guidance on the streamlined EIMR process online.
The new Capital Equipment Web Search Page is also live and can be accessed via MyAccess. Equipment...
As part of the Asset Tracking & Decision Support (ATDS) project, enhancements to the PeopleSoft Asset Management system went live on June 24.
Lab Managers, Core Managers, Equipment Custodians, and others can now take advantage of the following new functionality developed to improve the management of research equipment at UCSF:
For Lab Personnel
Enhancements to the BearBuy Capital Equipment Form include more attributes for research equipment and the ability to select a Curator at the time of purchase.
Researchers have the ability to indicate if equipment is in a core, available for...
The Asset Tracking and Decision Support (ATDS) project was initiated in July 2016 to enhance our enterprise-wide Asset Management System software. Sponsored by the Resource Research Program, the Controller's Office, and Supply Chain Management, the project addresses the need to better identify and locate research equipment across campus through the use of more descriptive attributes and new search pages.
Key enhancements also include:
the ability for researchers to track equipment performance and maintenance issues to support decision making for repeat purchases and service contracts;...
April 1, 2019 begins the next biennial cycle for the physical inventory process. During this cycle, Capital Accounting will schedule and conduct the biennial physical inventory at the department level; in prior years, the inventory was conducted at the Equipment Custodian level.
This change is a part of an effort to increase the visibility for departmental stakeholders into a key internal control that safeguards our equipment. The change in scheduling methodology will allow departments to better coordinate and track equipment inventory activities with Equipment Custodians within their...
Effective October 2018, a combo edit rule has been established in BearBuy and PeopleSoft to validate the recording of capital equipment purchases made with sponsored funds. This rule helps to ensure accurate financial reporting and the full and appropriate recovery of Facilities & Administrative (F&A) costs for these purchases.
Capital equipment is defined as equipment (including computer equipment) having a value of $5,000 or more, and software with a per-copy cost of $5,000 or more, where the normal life expectancy for the equipment is more than one year. Specific accounts exist to...
Are you trying to find a thermocycler or a flow cytometer? How about equipment that is in a core or shareable? A solution is on the way to help you more easily track capital research equipment on Campus.
The Asset Tracking and Decision Support (ATDS) project was initiated in July 2016 to enhance our enterprise-wide Asset Management System software. Sponsored by the Resource Research Program, the Controller's Office, and Supply Chain Management, the project addresses the need to better identify and locate research equipment across campus through the use of more descriptive attributes and new...
Capital Asset Management (CAM) has implemented the use of DocuSign to transmit and certify Final Inventory Reports as part of the physical verification of capitalized assets. University and Federal Regulations require that campus departments perform a physical verification of all capitalized assets every two years. Use of DocuSign allows Department Equipment Custodians and Department Heads to more easily access, review, approve, and certify their Inventory Reports using a web-based online tool. This enhancement should eliminate lost reports, streamline the...
If you are ordering equipment for research and development (R&D), your purchase may be eligible for a partial tax exemption resulting in savings for UCSF and your project. California Department of Tax and Fee Administration Regulation 1525.4 - Manufacturing and Research & Development Equipment allows for a “partial sales and use tax exemption” on certain manufacturing, and research and development equipment purchases and leases. This regulation, which was effective beginning on July 1, 2014, has been extended through June 30, 2030.
To take advantage of the...
Equipment custody codes are now available on the Controller’s Office website. You can filter the custody code list by code, code description, custodian, Dept ID, or Dept ID description.
Custody code is a four-digit code, requested by the department and issued by Capital Asset Management (CAM), that is used to assign custodial responsibility for UC-held assets. Custody codes are tied to Dept ID codes and mirror the campus' organizational structure. Each custody code requires a designated individual to act as custodian. The Equipment Custodian is responsible...
During the life of capital equipment, it may be necessary to pay for repair or maintenance of the equipment. Whether you can capitalize these expenses depends on the nature of the repair or maintenance.
Repairs and maintenance expenses are generally NOT capitalized
Repairs and maintenance are expenses a business incurs to restore an asset to a previous operating condition or to keep an asset in its current operating condition. Under Generally Accepted Accounting Principles (GAAP), you must record repairs and maintenance expenses to operating expense in your records...
