Capital Assets

Cost Threshold

There is a cost threshold that assets must reach before they can be classified as capital.

Moving Assets

There are set procedures for moving and disposing of capital assets.

Federal Funds

Federally purchased equipment has additional rules and requirements to consider.

Annual Physical Inventory

An annual physical inventory of all capital assets is completed every year.

Building an Asset

If you are planning to construct or build a capital asset from parts that are individually purchased and at the time of purchase are below threshold, please contact the General Accounting office. We will assist you with setting up a Workday Miami Specified account that will list all requisitions, purchase orders, invoices and direct pays for the development of the capital equipment. Please keep in mind that once the equipment has been built the expenses for the equipment must meet or exceed the current $10,000 threshold for capital equipment.

Process for Building an Asset