Fixed Assets

Accounting Support is responsible for managing the university's property and fixed assets. The university is defined as a "Summary User" of the Commonwealth's Fixed Assets Accounting System (FACCS) and tracks assets in the Banner Fixed Asset Accounting System. The Banner system provides the necessary controls to ensure all university fixed assets are adequately safeguarded, maintained and used in the best interest of the institution.

Our procedures are to be used in conjunction with the Commonwealth Accounting Policies and Procedures (CAPP) Manual developed by the Comptroller.

There are several categories:

  • Equipment with a purchase value of $2,000 or more and a useful life of two years or more must have an RU identification tag.
  • All computers and cell phones, regardless of purchase price, must have an RU identification tag.
  • All equipment purchased from the Equipment Trust Fund (ETF) must have an RU identification tag.

Visit Forms and Documents to access to the Departmental Equipment Change Report. This form should be used when transferring assets from one department to another.

To surplus a fixed asset please complete a PU19 form found on the Facilities Management website.