Fixed Assets

This decision is up to each department. If your department allows employees to take items to their home, this practice should be documented and the items taken must be accounted for.

Two methods of documentation are recommended, the first is to keep a log of all items taken home by employees. The log must include the employee's name and address. It must also contain the tag number, serial number and a brief description of the items.

The second method is to ask Fixed Assets to update the departmental inventory with a record of the items being used at the employee's home. This method should be considered for items that will be in use at the employee's home for long periods of time. Fixed Assets will record this location in the equipment record for the department and it will become part of the department's permanent inventory records.

The best practice for missing assets is to maintain timely and accurate information prior to them going missing. Update the location & provide user data, or other important information, in the Inventory Note field. 

Inevitably, assets will go missing. When this occurs, you should interview the previous user for a last known location and usage date. Search emails and other records for a paper trail of the movement activity.  Review security cameras if applicable. For tech related items, sometimes OIT can review network usage for a last known date or location. 

If all avenues have been investigated and you need an asset removed, a method as outlined here can be utilized:

1. Transfer to another CMU department. The department that will absorb the asset(s) should verify the physical location.  
   • Non-tech can utilize the Asset Moved form. Tech items need to go through OIT’s move process.
2. Moving Request showing the item being sent to salvage
3. RMA, Trade in or similar paperwork clearly identifying the asset(s)
4. Police report
5. As a last resort, a memo authorizing the retirement of the assets can be submitted to Fixed Assets. Please review the tagging policy.

• Items that are optionally tagged can be signed off on by the departmental Chairperson/Dean, Manager/Director, and/or Senior Administrator
• Items that are required to be tagged must have a two-person signoff, which includes: the Chairperson/Dean, the Manager/Director, and their Senior Administrator’s authorization.

The answer to this question can be complicated. Please contact Fixed Assets & Contracting & Purchasing Services for guidance regarding the trade in agreement and its legalities.

Fixed Assets inventory records are kept in SAP. As such, we have specific character limits for each field. You can add details in a number of ways.

Asset Description: The description field has 50 characters available.

Inventory Note: This field is for the departments use. It is limited to 15 characters. Suggested usage includes the global ID of the main user, a note like "closet" or "cabinet" to narrow down a location within a room, etc.

Super Assets: There might be an occasion when you want to keep your inventory records on one cost center but be able to filter through them to categorize further. Fixed Assets has the ability to create Super Assets for this purpose. Please contact us as this is an individualized process.

Attaching documentation or photos in SAP is also an option.

Yes. All equipment purchased with grant funds must be tagged and inventoried. Grant-purchased equipment is visually set apart from other equipment by the use of blue grant equipment inventory tags.

No, university assets are property of the State of Michigan and as such cannot be transferred, donated, or loaned to other entities.

Beginning in October, 2024, Fixed Assets has the ability to issue additional tags for components of systems. In the past, one tag would have been issued, as the pieces all work together. Today, we can issue multiple tags so that if one piece breaks or is otherwise removed, it can be accurately tracked.

These additional components are recorded as sub-assets but appear on your inventory like most other equipment. The exception is the recorded value. These additional components will be assigned a value of $1 unless the invoice clearly breaks them out as a separate charge. This $1 will be transferred from the main piece of equipment's value so that all assets purchased and working together total the invoiced value. Additionally, if the main piece of equipment is required to be inventoried, so too will these $1 items.

If this is something you want to pursue, please contact the Fixed Assets office to start the process.

Fixed Assets can supply your department with information on available surplus items held in storage. Surplus equipment and furnishings are available to university departments on a "first come, first serve" basis at little or no cost.

Departments are encouraged to put their inventory process into writing. Each department has individual needs & timelines within a fiscal year, but a template for how to conduct your inventory can be provided to you by Fixed Assets staff. Additionally, these completed documents can be stored in a repository by Fixed Assets in case of staff turnover within a department.

1. Visually locate the tagged equipment items listed on a departmental equipment inventory list.

2. Verify each item has the correct location, brand, model, serial, description and cost center assignment. Record any updates and add additional details to the inventory note field as desired. Update the "last inventory date" to the date the item was located.

3. Record any additional tagged equipment items not listed. Include tag number, building, room number and responsible department. If you find equipment not tagged that should be, record the manufacturer, model, serial number, method of purchase, and any other pertinent information and include it with your completed report.

4. Complete the equipment inventory before February 28th of the current fiscal year.

5. Return the updated and verified equipment inventory report to Fixed Assets. The preferred method of return is via this Microsoft Form.

The Fixed Asset office supplies the university with its official equipment identification tags. The equipment identification tags are made of white vinyl material and have black lettering with "Central Michigan University", a serialized identification number, and a barcode printed on them. A pressure-sensitive, high-tack adhesive affixes them to the equipment. Once the tags are affixed to the equipment correctly, they are difficult to remove.

Tagging items identifies them as CMU property, provides valuable property management information and helps to deter theft. If your department has items that you would like tagged and added to your equipment inventory, please submit this online Tag Request Form.

The purpose of an equipment inventory is to account for university-owned equipment. Individual departments or cost centers are responsible for verifying the physical location and condition of their assets. The State of Michigan, the Fixed Asset Office, and the Internal Audit Office may review the results of each department’s equipment inventories.

CMU policy and State of Michigan regulations specify that the university must inventory equipment on an annual basis. Equipment meeting the following four criteria must be inventoried:

• Any item with an original value of $5,000 or more
• University tagged artwork
• Grant purchased equipment
• Vehicles, trailers, & other items registered with the State of Michigan

You may also report changes to other tagged items. All changes and updates that are sent to the Fixed Assets office will be validated and then posted to your inventory.​

Items that cannot be found should be noted as such on the inventory records. Fixed Assets, Internal Audit, and the responsible cost center may need to work together to investigate the cause of missing item(s).

All university departments shall conduct an equipment inventory once per year. The start of the inventory cycle coincides with the start of the fiscal year: July 1st. The due date will be February 28th of the current fiscal year and will be the same for all departments.

Periodically, Fixed Assets will send notifications to all university departments reminding them to conduct an equipment inventory prior to the due date.

If your department has questions concerning the equipment inventory process, contact Fixed Assets at assets@cmich.edu or (989) 774-6784.