Property Control System Manual (PCS)
- Property that is not sold after being placed on the
public floor for 30 days.
- Any item of real property or capital
- Improvements, changes, or additions which extend the
useful life of an asset, increase the asset’s efficiency, or
change the asset’s intended use.
- The act of disassembling or dismantling equipment to
the point of making the equipment unable to perform its intended
- Movable tangible property having a life expectancy of one year or more and a unit cost of $5,000 or more (exclusive of sales and/or use tax, freight, and installation).
- Capital Improvement
- Projects embodying the construction or purchase of new
facilities, construction of major additions to existing facilities,
or construction incident to a major change in function of an
- The process of assessing assets to determine if the
property has a life expectancy of one year or more and an
acquisition cost of $5,000 or more.
- Recognized an expenditure and/or gift as an asset
rather than an expense, usually at its present value.
- Property no longer needed by the custodial department
but that may be used by another department within the university or
sent to Surplus Property.
- Equipment that is constructed from individual parts by ASU and is identifiable as a discrete item (not a “project”). The equipment requires creative design effort by university faculty and cannot reasonably be built by an off-campus vendor (i.e., it is one-of-a-kind). It likely includes custom components, does not include modular equipment, and construction of the item is complex (e.g., not simply plugging various electrical components together). The finished item’s function does not bear resemblance to the functions of the individual components (e.g., an engine converts energy, a frame provides structure, and wheels reduce friction, but, a car provides transportation). The finished product must have a unit cost of $5,000 or more and a useful life of one year or more.
- A piece of fabricated equipment.
- Government-Furnished Equipment
- Equipment provided to the university by the federal
government or government contractor for grant or contract-specific
- Idle Equipment
- Equipment that currently has no known use for the
department, contract, or grant but eventually may be
- Interdepartmental Sales Rights
- The rights reserved by a university department to the
calculated proceeds of an equipment sale.
- Capital equipment and any other equipment designated by
a sponsor for inventory.
- Interdepartmental sales rights.
- An agreement for the right to use property for a
specified period at a specified cost. Title remains with the
lessor. At no time does the lessee build equity in the
- An agreement for the right to use property for a
specified period at a specified cost. During the term of the lease,
the lessee builds equity at a specified rate so that, at the end of
the lease period, the lessee has the option of purchasing the
property at a specified amount. Title to the property remains with
the lessor until the lessee exercises the option to
- Property provided by an outside party for use by the
institution for sponsored project or research-related activities;
title to the property does not normally pass to the
- Property of any kind except real property or property
permanently affixed thereto. It may be “tangible” (having
physical existence) or “intangible” (having no physical
existence), such as patents, inventions, and
- Personally Owned
- Equipment owned by a university employee or other
private party from whom the university employee has received proper
and valid authorization for use.
- Real Property
- Land and permanently affixed buildings and
- The creation and implementation of systematic controls
for records and information activities from the point where they
are created or received through final disposition or archival
retention, including distribution, use, storage, retrieval,
protection, and preservation.
- Changing the use of building space or refurbishing to
make space more functional or more cosmetically
- The purchase of property on a cost-of-goods-sold object
- Removed from actively reported assets in the Property Control database.
- Sales Tax
- A transaction privilege tax imposed on the seller for
the privilege of making sales in the state; it is generally passed
on to the buyer by the seller by contract.
- Surplus material, such as metal pieces, broken
component parts or inoperable equipment, which has no utility value
in its present state.
- Spot Sale
- Individual sales of surplus property during the regular
- Equipment currently not in service and with no
anticipated future use.
- Property not needed by a department within the
university. Surplus property includes all excess items and
materials other than items that would be typically disposed of in a
wastebasket, such as scrap paper, consumed pencils and pens,
- To place an ASU property control number on a piece of
- Temporary Warehouse
- The temporary storage of university property for the
convenience of university departments. Storage will not exceed one
year without vice presidential approval.
- Use Tax
- A tax imposed on the buyer for the in-state use of
items purchased from out-of-state suppliers.
skip navigation bar
PCS manual |
ASU policies and procedures manuals | Index of Policies by Title |
PCS manual contact |
Property Control Web site