Do you understand what classifies as capital equipment?
Are you up to date on the most recent policy and procedures regarding capital equipment requirements?
Do you understand the handling requirements for items coded as capital equipment?
Do you know your Department DPA and their role in the management of capital equipment?
In 2017, UW-Madison launched a new policy and supporting procedures related to capital equipment guidelines. The procedures detail what expenses qualify for capitalization codes in the 46xx range along with the handling and documentation requirements of these purchased items. To help you understand the rules, answer any questions you might have before finalizing a project budget and to share the resources available to you, the Property Control Office is offering two FREE training sessions:
- Training Part 1- Asset Acquisition and Fabrications: This session covers general classifications and the five procedures to support qualifications of capital equipment. Discussion on qualified fabrications is included..
- Training Part 2 – Asset Movement/Inventory and Asset Dispositions/Retirement: This session covers the six procedures related to physical inventory requirements for capitalized items and required documentation and communication for capitalized assets being transferred or no longer needed by a department.
These sessions are available to campus and are intended for all personnel involved in the financial and operations management, control, and use of capital equipment. If you are involved in budgeting, coding invoices, or handling the overall management of a project, these courses could be of benefit to you.
Please visit the Property Control website for session details and registration.