Property, fabricated equipment, and asset lifecycle.
This manual sets forth the policies, responsibilities, and procedures for establishing and maintaining control over property owned by, or in the custody of, the Colorado School of Mines (CSM). The term “property” which is used in this manual is synonymous with the term “capital equipment”, which is defined as personal property having a unit acquisition cost of $5,000.00 or more and an anticipated service life of one (1) year or more. This definition also applies to CSM fabricated equipment.
Capital assets are recorded at historical cost, including necessary expenses like installation and freight. Mines applies standard cost thresholds and useful lives based on experience, though alternate useful lives may be approved by the Controller with supporting documentation.
Learn the full process for capital equipment at Mines, from procurement and payment to tagging, annual inventory, and disposal. Includes requirements for purchases over $5,000 and guidance on spend categories, tracking, and compliance.
Learn the required steps for transferring or trading in tagged capital equipment. This includes notifying the Capital Asset Team when equipment changes location, custodian, or institution, and obtaining necessary approvals for external transfers or trade-ins.
Fabricated equipment includes PI-built items with a total cost of $5,000+ and a service life over one year. Only material costs are capitalized. The Controller’s Office assigns a tag # for tracking purchases and later adds the item to the catalog for depreciation and inventory management.
All capital equipment disposals, trade-ins, or surplus transfers require prior authorization from the Controller’s Office. Missing or stolen equipment must be reported immediately. A disposal form, approved by the Department Head and Controller, is required to remove items from the Capital Equipment Inventory.
Donations $500+ require an acknowledgement letter; donations over $5,000 also need approvals, an appraisal, and IRS Form 8283. The Controller’s Office, Contracts, and Capital Asset team coordinate acceptance, tagging, and recording.
For concerns about property acquisition, use, loss, or destruction, Mines community members can report confidentially and anonymously via the SpeakUp@Mines hotline or website.