Definition: Inventory / Fixed Assets include personal property that maintains its identity while in use, with a cost (or value if donated) greater than $10,000, and a useful life of more than two years. Weapons, vehicles, artwork, and computers are considered "sensitive" items and are included regardless of cost.

Purchasing: When purchasing Inventory / Fixed Asset items please use the following object codes:

• Items purchased with a cost greater than $9,999 should use object code 4000. (Equipment)
• Items purchased with a cost less than $10,000 should use object code 3002. (Equipment purchased as supplies)
• Sensitive items as defined above should use object code 3006. (Sensitive equipment purchased as supplies

Policy: All items purchased using object code 4000 and 3006 will be assigned a pre-numbered State of Minnesota Asset Sticker and will be recorded in the ISRS equipment module. Those items with an object code of 3002 will receive a State of Minnesota Sticker.

Capital Assets include land, buildings, works of art, historical treasures and library collections.

See Also:

Minnesota State Colleges and Universities Capital Asset Procedure 7.3.6 for more information on capital assets such as land, buildings, capital improvements, infrastructure, leases and library collections.