Asset Management Policy

Purpose:

This policy establishes common practices for the acquisition, use, control, and recordkeeping of capital assets and equipment belonging to Winona State University (WSU).

Policy:

The Business Office identifies and monitors all capital assets and equipment purchased by the university, according to established state standards. WSU employees are responsible for using capital assets and equipment appropriately and keeping track of the location of these items.

Related Documents:

• Minnesota State Procedure 7.3.6 (Capital Assets)

• Minnesota State Procedure 7.3.6.1 (Capital Leases Involving Tax-Exempt Interest)

Related definitions:

[2-21] Capital assets:

Tangible property valued under ten thousand dollars ($10,000) that is not a weapon or other sensitive item.

[2-21] Equipment:

Tangible property valued over ten thousand dollars ($10,000) and all weapons and other sensitive items, regardless of price and or age, as defined in Minnesota State Procedure 7.3.6.

Related docs:

Asset Management Procedure

History:

Adoption date: 08/13/2007
Implementation date: 01/12/2024