The University maintains a program to identify, monitor, and track specific campus assets. All fixed Assets (or Capital items) including equipment and/or similar objects, which have an individual value greater than $5,000 are identified, tagged, and placed within the campus’s list of assets. This list is included within the University’s financial statement and reported to the state and IRS annually. The other items included in this program are designated as “Small and Attractive” – these items have a value between $1,000 to $5,000 dollars and are deemed vulnerable to loss. Whereas these items are not added to the University list of assets found in the financials, departments are required to ensure they are tracked internally.
The categories of items which fall into Small and Attractive are:
- Cameras, motion picture
- Cameras, still picture
- Photographic projection equipment, e.g. projectors
- Laptop and notebook computers
- Tablets and smart phones
- All Weapons, Firearms, Signal Guns, and Accessories are tagged and inventoried regardless of unit cost.
Departments are required to designate an Asset Control Custodian (ACC) who will be responsible to manage and track Inventory lists and collaborate with the AIO (Asset Inventory Operations) office within Central Services.
ACC’s should be familiar with the policies, standards and other requirements (listed on the right).
These policies can be read in more detail on Western's Policy Website here.
These Policies specifically are:
- POL-U5346.01 Managing and Safeguarding University Assets
- FRM-U5346.01A Asset Control Custodian Delegation Form
- STN-U4910.01 Standards for Conducting Physical Inventory of Assets
- POL-U5300.25 Reporting Loss of University Funds or Property
- POL-U1500.08 Using University Resources