Equipment and Property

The Equipment Inventory Office is responsible for maintaining the subsidiary asset system records for University property and equipment. Our responsibilities include maintaining detail asset information, tracking physical location, periodic verification of the existence of the assets and assuring that obsolete or disposed assets are removed from the University's records.

We perform the actual equipment:

• Tagging
• Periodic physical inventorying

We are also responsible for the equipment record:

• Accuracy
• Recording
• Reporting
• Maintaining
• Retiring

Plant Assets Accounting is responsible for recording the capital assets to the financial records of the University. To accomplish this we do the following:

• Maintain the financial records for construction related projects after approval by the University administration and/or the Church Appropriations Committee
• Prepare billings and requests for reimbursement
• Capitalize assets upon completion of construction related projects
• Maintain the fixed asset records
• Maintain the general ledger records for capital equipment and fixed assets
• Perform reconciliations with the Asset Management Office between the capital equipment records and the general ledger
• Perform reconciliations between the fixed asset records and the general ledger
• Prepare financial reports for the University and the Church