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Capital Inventory

Supervisor: Erik Simonsen

  • Materials Management Office
  • Hours: 7:45 AM - 4:30 PM
  • Phone: 715-836-4283
  • Email: simonsee@uwec.edu

Overview:

Accurate records of all Capital Equipment are necessary as they provide for the safeguarding of assets, accurate values in financial statements, sufficient insurance coverage, and accurate allocation of costs. Asset values are reported on University financial statements, subject to internal and external examinations and provide the means of allocating costs to accounting periods which are used to establish UW-Eau Claire's federal indirect cost rate.

Policy:

In 2011, a new Capital Inventory Policy Manual was completed and approved by the Chancellor's Executive Staff. Process changes that will soon be in place include assigning an asset custodian to each piece of capital equipment. The asset custodian is an employee that frequently uses the equipment and is able to keep track of the asset's location at all times. An asset custodian is responsible for maintaining accurate records of all capital equipment he/she manages and notifying the Materials Management Office of any changes in the status of capital equipment.

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