Ownership of University Capital Assets
About This Policy
- Effective Date:
See current policy
- Date of Last Review/Update:
- Responsible University Office:
- Capital Assets
- Responsible University Administrator:
Vice President and Chief Financial Officer
- Policy Contact:
Director of Auxiliary Accounting, Capital Asset Management, Non-Student Accounts Receivable, and Student Loan Administration
- Policy Feedback:
- If you have comments or questions about this policy, let us know with the policy feedback form.
- Print or view a PDF of this policy
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University capital assets include movable equipment, capital leased equipment, movable fabricated equipment, art and museum objects, land, land improvements, buildings, infrastructure, library books and leasehold improvements. The acquisition value of movable capital equipment includes the University's cost of equipment and all additional costs necessary to place an asset in its intended location and condition for use. Additional costs that can be capitalized with equipment purchases include the cost of the asset. For donated capital assets the acquisition value is market value.
The title to or ownership of all university capital assets are vested in the Board of Trustees of Indiana University. Title to federally purchased capital assets may be retained by the federal sponsoring agency or vested in the University, depending on the regulations of the agency and the requirement of the project. University capital assets do not become the property of the project director or the principal investigator.
Equipment: The term "equipment" includes scientific and technical equipment, delivery equipment, office equipment, machinery, furniture and fixtures, factory equipment and similar fixed assets.