Capital Equipment Lifecycle

Capital Equipment Lifecycle

1 Procurement - Requisition/Purchase Order Home - Procurement and Contracts
2 Place an order with the vendor  
3 Submit invoice for payment to MAPS Service - Mines Payments Service
4 Receive equipment  
5 Confirm receipt of equipment to MAPS - Approval to Pay Service - Mines Payments Service
6 Tagging appointment with the Capital Asset Team 15-minute tagging appointment
7 Keep the Capital Asset Team updated with the location on campus Equipment Transfer Notification
8 Annual inventory Email outreach from Capital Asset Team
9 Disposal Property Disposal Request

Procurement

  • Capital equipment is equipment and software that costs more than $5,000 and has a useful life of more than one year.
  • Purchasing equipment or non-subscription software that costs more than $5,000 requires a Purchase Order (PO)

Work with Procurement to launch this process.

Spend Categories

Spend Categories are used on purchases to categorize the types of expenses.

Spend Category Description Uses
7906 Capital Equipment Equipment greater than $5,000
7904 Capital Software Non-subscription software greater than $5,000
7337 Supplies Associated supplies/consumables purchased in conjunction with capital equipment
7411 Minor Equipment Associated minor equipment purchased in conjunction with capital equipment
7426 Sponsor-Owned Equipment Equipment greater than $5,000 where title to the equipment is retained by the sponsor
7909 Fabricated - Mines-Owned Expense Reports and Supplier Invoices that are part of a Mines-Owned fabricated project (must include fabricated tag # in memo field)
7427 Fabricated - Sponsor-Owned Expense Reports and Supplier Invoices that are part of a Sponsor-Owned fabricated project (must include fabricated tag # in memo field)

Receipt of Equipment

  • Capital equipment should be received and verified operational before the invoice is approved for payment.
  • The capital accounting team uses the payment approval date as the in-service date for establishing depreciation.
  • After equipment is received, the invoice should be submitted to MAPS for payment with confirmation that the equipment has been received and is in good working order.

Tagging

  • After the invoice is approved for payment in Workday, a tag number is generated by Workday.
  • The Capital Accounting team will reach out via email to schedule a short, in-person appointment to tag and photograph the equipment.
  • Tagging helps identify the equipment as capital.
  • If a tag falls off the equipment or becomes damaged, please reach out to the capital accounting team to request a replacement.

Inventory

  • Inventories are completed annually for all capital equipment as outlined below.
  • Equipment inventory is completed with the controller's office every other year and completed internally by each department on alternating years.
  • The asset coordinator and location of all equipment should be kept up to date to make the annual inventory as easy as possible.
  • Inventory is required by federal grants as well as the state and is part of our policy.
  • Equipment is not removed from inventory when fully depreciated.  All capital equipment remains on the inventory as a university asset until it is physically removed from campus.
Inventory Month Completed Via
Off-Campus September Email verification
Sponsor-Owned October Email verification
Software November Email verification
Equipment January-April In-person

Campus Asset List

All campus Workday users have access to view and export the list of capital equipment and software on campus            

In the Workday search bar enter "RPT - Find Assets - Campus"   

  • The report can be run with no filters to see the list of all equipment
  • Enter a name in the Asset Coordinator Field to see assets by person
  • Enter a cost center to see a list of assets by department

Coordinating Cost Centers

47640 Museum - Operating

13640 Chemistry - Operating

35040 Metallurgy & Mat. Engr - Operating

24640 Geology & Geological Engr-Operating

39400 Mining - Operating

12040 Presidents Office

10040 Chemical & Biological Engineering

47850 RTT - Shared Facility Services

22510 Civil/Environmental Eng Operating

69770 Conference Services

21010 Mech Engineering Operating

30120 Geophysics - Operating

19810 Computer Science Operating

69600 Public Safety

43800 Physics - Operating

32640 HASS Operating

52680 Grounds - Gen. Fund

54100 Capital Planning & Design - Op.

51680 Sodexo Food Service

69820 Recreation Center Operations

29606 Colorado Geological Survey - Dept.

41520 Petroleum Engr - Operating

19700 Electrical Eng Operating

48020 Information Technologies

53200 Fleet Mgt

51250 Labriola Innovation Hub

69780 Student Center Operations

12425 Parking, Fleet & Transportation Services

75006 Athletics - Dept

69700 Residence Halls

51886 Facilities Mgt. - Dept

61240 Admissions - Op.

51389 Venture Center

12520 Strategic COMM & Marketing Op.

11040 Chem & Bio Engr - Operating

48700 Library

50264 Information Technology

69862 Health Center Operations

50830 Controller's Office - Op.

54530 Continuing & Professional Ed Svc-Op

49425 Acad Affairs, Assoc. Provost -Oper.

53920 Environmental Health & Safety

10301 Online Programs

33810 Applied Math Stix Operating

47975 Payne Institute

60316 Student Activities Involvement & Leadership

49380 Entrepreneurship & Innovation - Op.

Capital Equipment Disposals

  • Authorization must be granted by the Controller's Office BEFORE any capital equipment is sent to surplus, facilities management for disposal or traded-in.
  • The Controller's Office should be notified immediately of any capital equipment that is missing or stolen.
  • A disposal form should be completed and routed to for approval by the Department Head and the Controller to document the disposal and to remove the item from the Capital Equipment Inventory.

 

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