• Policies by
  Section
• Search
• New or Recently
  Revised Policies
• Draft Policies
• Resources »
• Glossary
• Home



• Subscribe
  to receive
  updates

CSU POLICY

Section 3000 Policies

Policy Number:  3150.01

Policy Title: Administration of University Property

Policy Effective Date: April 1, 2011

Last Revision Date: October 6, 2011
(see revision history)

POLICY OBJECTIVE

It is the policy of the CSU that university property be protected from harm and unauthorized use. Transactions related to university property also must be recorded in an accurate and timely manner. Each campus must prepare written procedures that implement this policy.

POLICY STATEMENT

For the purpose of this policy, property may include but is not limited to the following:

• Equipment
• Intangible Assets
• Land and land improvements
• Works of art and historical treasures
• Library books and materials
• Construction work in progress (CWIP)
• Buildings and building improvements
• Improvements, other than buildings
• Infrastructure
• Leasehold improvements

The Chief Financial Officer (CFO) of each campus of the California State University must ensure the following:

• Appropriate resources are allocated and responsibility assigned for proper receipting, recording, securing, tracking, and disposal of property.
• Procedures are implemented for the timely recording of all property based on normal entry cycles. For example, equipment additions may be required to be recorded each month due to the high volume of transactions, whereas major capital improvements may be recorded annually.
• Procedures are implemented for the timely disposal of all property.
• Procedures are implemented that require appropriate approval for the disposal of property and that all rules and regulations are followed in the disposal of property (e.g., hazardous materials, etc.).
• All regulations for property obtained from a federal or state grant are adhered to in accordance with the respective requirements such as Office of Management and Budget (OMB) Circular A-110 or related state regulations.
• Campuses use the California State University (CSU) Capital Assets Guide as guidance for all property as it relates to capitalized costs, depreciation methods, impairment, and other such issues. The CSU Capital Assets Guide is updated annually to reflect evolving accounting and reporting requirements and is included the CSU GAAP Manual.

 

APPLICABILITY AND AREAS OF RESPONSIBILITY

 

REVISION HISTORY

April 1, 2011

RESOURCES AND REFERENCE MATERIALS

Useful Guidelines:

CSU Administration of Property Guidelines

CSU Capital Assets Guide (included in the annual CSU GAAP Manual)

For controls/accountability pertaining to acquisition and disposal of property, other than gifts of property, refer to Contracting and Procurement Policy ICSUAM Section 5600 and Capital Planning, Design and Construction Policy ICUSAM Section 9019 (note that ICSUAM Sections 9019 and 9020 cover procedures for acquisition and disposal of any real property, including gift property).

E.O. 731 – Designation of Chief Financial Officer
Executive Order No. 409- Purchase and Sale or Exchange of Personal Property - Delegation of Authority,
Executive Order No. 644 -Intellectual Property - Campus Policies,
Executive Order No. 676 -Delegation of Gift Evaluation and Acceptance,
Executive Order No. 691 - Motor Vehicle Inspection - Delegation of Authority,
Supersedes Executive Order No. 649

Related Principles:

• GASB Statement No. 34: Basic Financial Statements – and Management’s Discussion and Analysis – for State and Local Governments, GASB Statement No. 35: Basic Financial Statements – and Management’s Discussion and Analysis – for Public Colleges and Universities – an Amendment of GASB Statement No. 34, GASB Statement No. 42: Accounting and Financial Reporting for Impairment of Capital Assets and for Insurance Recoveries, GASB Statement No. 49: Accounting and Financial Reporting for Pollution Remediation Obligations, GASB Statement No. 51: Accounting and Financial Reporting for Intangible Assets, GASB Statement No. 52: Land and Other Real Estate Held As Investments by Endowments, and FASB Statement No. 13: Accounting for Leases.

Sound Business Practices:

 

Laws, State Codes, Regulations and Mandates:

• OMB Circular A-110,
• California Ed. Code Sections 89048(g) and 89720 et seq.;
• CaliforniaGovernment Code Sections 15850 and 11011 et seq.