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Property Control
2054 Wolverine Tower
Ann Arbor, MI 48109-1273
Phone: (734) 764-6251
Fax: (734) 647-4262
Property Control
2054 Wolverine Tower
Ann Arbor, MI 48109-1273
Phone: (734) 764-6251
Fax: (734) 647-4262
Property Control
2054 Wolverine Tower
Ann Arbor, MI 48109-1273
Phone: (734) 764-6251
Fax: (734) 647-4262
Property Control
2054 Wolverine Tower
Ann Arbor, MI 48109-1273
Phone: (734) 764-6251
Fax: (734) 647-4262
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Asset Management
Table of Contents:
Overview of Asset Management at the University of Michigan
The University of Michigan is implementing PeopleSoft across the University. One of the advantages of implementing campus-wide is the ability to interact and share information across all modules. The Asset Management Module is part of the Physical Resources/Financial Core Process Unit.
Role of Financial Operations and the Property Control Office:
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Financial Operations is responsible for reviewing and adding financial assets greater than $5,000 to the asset management system. They are responsible for all financial transactions involving the assets, including recording the accounting entries to the General Ledger, transfer of assets to different organizations, cost adjustments, and recording of monthly depreciation.
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Property Control Office is responsible for tracking all campus assets valued at $5,000 and over. They are responsible for tagging all financial assets.
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Types of Assets:
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Financial Assets are assets valued at $5,000 and over that are centrally tracked, tagged, capitalized, and depreciated. This includes land, buildings, and equipment.
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Campus Assets are assets valued between $1,000 and $5,000. These are not centrally tracked and tagged, and not capitalized or depreciated. Examples include computers, printers, copiers, etc. Each department has the option of manually adding these campus assets into the Asset Management System on their own.
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Unit Assets are assets valued under $1,000 or non-equipment assets. They are not tracked by Financial Operations or Property Control. Furniture is an example of unit assets.
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Note: Only Financial assets are loaded into the Asset Management system.
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