UH System Policies and Procedures
- Board of Regents Policies
- Executive Policies
- + 1. General Provisions
- + 2. Administration
- + 3. Organization
- + 4. Planning
- + 5. Academic Affairs
- + 6. Tuition, Financial Assistance, and Fees
- + 7. Student Affairs
- + 8. Business and Finance
- + 9. Personnel
- + 10. Land and Physical Facilities
- + 11. Miscellaneous
- + 12. Research
- Abolished Procedures (Post Oct. 2014)
- Archived AP
UH‐Related Laws and Rules
- Hawaiʻi Revised Statutes (HRS) 304A
- Hawaiʻi Administrative Rules (HAR) Title 20
Administrative Procedure 8.539 Administrative Procedure 8.539
Property and Equipment Record Maintenance
Administrative Procedure Chapter 8, Business and Finance
Administrative Procedure AP 8.539, Property and Equipment Record Maintenance
Effective Date: March 2016
Prior Dates Amended: None. This is a new procedure that replaces AP 8.514 and
Responsible Office: Office of the Vice President for Budget and Finance/Chief Financial Officer
Governing Board and/or Executive Policy: EP 1.102, Authority to Manage and Control the Operations of the Campus
Review Date: March 2019
To establish uniform guidelines and procedures for establishing and maintaining the equipment and controlled property records of the University of Hawai‘i (University).
No policy specific or unique definitions apply.
III. Administrative Procedure
1. Accurate and complete property records are a key component of an effective property management system. The asset records contain information necessary for proper stewardship throughout the life of an asset.
2. The information contained in the asset records in the Kuali Financial System (KFS) is the basis for tracking accountability, movement, utilization, depreciation, and disposition of equipment and controlled property.
3. The asset records are used as the official accounting records to monitor and control all equipment and controlled property acquired by or furnished to the University.
4. Departments may choose to record and manage University-owned property that do not meet the criteria for equipment or controlled property in KFS. The departments are solely responsible for establishing and maintaining these assets, commonly referred to as non-capital assets.
B. Establishment and Maintenance of Records
1. Asset records for equipment and controlled property in the care and custody of the University are established and maintained centrally by the Property and Fund Management Office (PFMO).
2. The asset records in KFS shall be routinely maintained and updated to ensure the information is accurate and complete by the custodial department.
3. The University’s asset records for management and control of equipment and controlled property include, but are not limited to the following information:
a. Asset number
b. Organization owner (chart of accounts code and account number)
c. FO code
d. Asset status code
e. Asset condition
f. Asset description
g. Asset type code
h. Vendor name
j. Model number
k. Serial number
l. Asset tag number
m. In-service date
n. Total acquisition cost
o. Cost of federal contribution
p. Asset location (building code and room number or off-campus location)
q. Asset representative name
r. Payment information
s. Fabrication information (if applicable)
t. Depreciation information (if applicable)
u. Retirement information (if applicable)
v. Loan information (if applicable)
C. Records of Federal Equipment and Controlled Property
1. Assets for federal property meeting the criteria for equipment or controlled property shall be established in KFS on an individual item basis by PFMO.
2. In addition to the asset information described above in section B.3., the asset records shall identify the federal award information (proposal number, grant number, sponsor name, etc.) as related to the payment account number(s).
D. Records of Federal Expendable Property
1. Principal investigators or other authorized representatives are responsible for establishing and maintaining subsidiary records for all components, materials, and property not meeting the criteria for equipment or controlled property.
2. The subsidiary records shall include copies of requisitions and purchase orders as well as evidence of issuance, quantities, receipt, and other pertinent information.
3. The subsidiary records shall be kept in such condition that the status of federal property can be readily ascertained at all times and shall be used for the purpose of establishing acquisition value and determining materials consumed.
IV. Delegation of Authority
There is no administrative specific delegation of authority.
V. Contact Information
Property & Fund Management Office, 956-8735, or firstname.lastname@example.org
A. Link to superseded Executive Policies in old format https://www.hawaii.edu/policy/archives/ep/
B. Link to Administrative Procedures in old format https://www.hawaii.edu/policy/archives/apm/sysap.php
VII. Exhibits and Appendices
Vice President for Budget and Finance/Chief Financial Officer
March 18, 2016
Topicsproperty records; asset records; subsidiary records