fixedassets.appstate.eduFixed Assets System | Fixed Assets Department | Appalachian State University

View text-only translation of this page. Skip to Main Content Area Skip to Primary Navigation Skip to the Left Sidebar Skip to the Footer Fixed Assets Department Appalachian State University Search: This site appstate.edu Advanced Policies Inventory Procedure Training Video Surplus Inventory Online Forms Contact Home CONTACT Business Affairs Annex PO Box 32125 251B Industrial Park Drive Boone, NC 28608 Phone 828-262-2636 RESOURCES Business Affairs Controller's Office University Resource Manual Materials Management OSC Policies Business Affairs Websites -- Select -- Office of Business Affairs Broyhill Inn Budget Office Business Systems Centrex Office Controller's Office Design and Construction Food Services Holmes Center Materials Management New River Light and Power New York Loft Parking and Traffic Physical Plant Safety Office Student Accounts University Bookstore University Police University Post Office The responsibility for the Fixed Assets System (FAS) has been assigned to the Office of the Controller. FAS was implemented at Appalachian July 1, 1979, in order to more effectively manage those assets owned by the University. Definition Fixed Assets are defined as those tangible items with a unit cost of $5,000.00 or more including taxes, shipping, and other costs that make the equipment/ asset operative. Fixed assets normally have an estimated useful life of more than one year. Accounting Purchases for items capitalized in the Fixed Assets System are coded to capital expenditure accounts. These accounts are classified as Capital Outlay expenditures (75XX5X). Expenditure Accounts for Appalachian State University Capital Outlay Expenditure Accounts System Function Account for lost or damaged property due to fire, flood or disaster. The FAS information is essential in obtaining replacement funds or collecting insurance coverage. Compliance with the requirements of the State of North Carolina that long lived assets be accounted for through an inventory control system. Deter theft and aid in tracking property that is missing. Facilitate transfer of equipment to fill a requirement on campus in lieu of new purchases. Provide data to departments, which will aid in better utilization of equipment. Determine the rate of depreciation on equipment for the purposes of calculating the University's overhead rate to Federal Agencies. For more information and questions please contact Deborah Wood at 828-262-2636 or wooddi@appstate.edu . Home MyASU Support Webmaster Emergency Info Policy Disclaimer EO Policy Contact Login Text Only © Appalachian State University 2020. All rights reserved....