H-10. Capital Asset Management (CAMS)
In conjunction with the various organizations (departments grouped together by FIS organizational codes) at IU Southeast, the Capital Asset Management (CAMS) office is responsible for the logging, tagging, and tracking of all purchased equipment which is expensed as a capital item (object code 7000 level). The CAMS office is located in Bloomington. Each campus has a CAMS coordinator who is responsible for assets on their campus. The IU Southeast CAMS coordinator is located in Accounting Services. Organizations with inquiries regarding CAMS may call extension 2359 for assistance. All equipment with an acquisition value in excess of $5,000 is classified as capital equipment. Equipment with a cost exceeding $5,000 must have an Indiana University Property Tag affixed and will be physically inventoried at least every two years. Organizations that want to tag and track any assets valued at less than $5,000 may do so at their own option. The CAMS coordinator can provide assistance and training for tracking assets valued under $5,000.
Physical Inventory Requirements
Federal regulations require that each organization complete a physical inventory every two years. CAMS exists because of the federal requirements (Circulars A-133, A-110, and A-21). Organizations may visit the CAMS website for additional information.
Organizational physical inventories are performed by utilizing scanning devices. After an inventory, an inventory reconciliation report is delivered to each organization. This report is a listing of all the organization’s capital assets which were not scanned during the physical inventory. While the organization is reconciling the report, all necessary updates must be reported to the CAMS office. Each organization must resolve its inventory reconciliation report within two weeks after receiving the report. After reconciliation has been performed, an Inventory Certificate letter must be signed by the organization head, and then returned to the CAMS office. Physical inventories and their corresponding reconciliations fulfill government regulations for the University’s capital assets.
Capital Asset Equipment Transactions
If any organization chooses to sell, trade in, discard, cannibalize, or destroy an asset, the organization must first contact the CAMS coordinator. Likewise, if an asset has been lost or stolen, the organization must contact the CAMS coordinator. Organizations wishing to sell or donate an asset must obtain written permission granted by the granted by the Accounting director. The written permission must accompany the form. The CAMS coordinator/Purchasing department will then advertise the item(s) internally on the list-serv, and the equipment must be offered to all of the Indiana University campuses before attempts can be made to sell to any outside organizations or individuals. Organizations may obtain a Capital Equipment Transactions form the campus CAMS coordinator in Accounting Services.
In the event any equipment is stolen from an organization, the IU Southeast Police Department must be contacted; that office will prepare a theft report. An attempt will be made by University Police to secure insurance recovery through IU Risk Management. A copy of the theft report must accompany the Capital Equipment Transactions form.
Equipment Loans/Off Premises Equipment
Equipment that is not located on campus should have the off-campus address listed on the Capital Equipment Loan form which is kept in the CAMS office. Equipment that is in the personal possession of Indiana University faculty or staff for more than 30 days must have a valid Equipment Loan/Return Form processed in the CAMS office with the IU Southeast faculty or staff signature on file in their respective office.
The organization head must have an electronic or hand-written signature on file. This form is valid for two years. A copy of the Equipment Loan/Return form must be forwarded to the IU Southeast CAMS office. Loaning organizations should contact IU Risk Management at (812) 855-9758 concerning insurance coverage on loaned equipment. The organization does have the option of waiving insurance coverage; however, it must be understood that the loaning organization is fully liable in the event of damage or loss. Any associated costs or charges will be the responsibility of the loaning organization.
Capital Asset Physical Equipment Moves
If any organization physically moves any equipment (asset) to another location (e.g. equipment moved to a different building or sub-room) on campus, the CAMS coordinator must be notified as soon as possible, either by e-mail or written confirmation, with the exact new building location, room number, and sub-room number, if applicable.