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Policies

Administration & Finance

Policy Number: 302.1.2

Policy: Property/Equipment - Capital Assets

Date Adopted: 04/96

Revision Date: 1/04

References: OMB Circular A-21, MOM Capital Assets, Delegation of Authority

Approved By: Robert A. Duringer, Vice President for Administration & Finance


The University of Montana must maintain accurate property/equipment ("capital asset") records that identify property/equipment of the University, as well as control systems to provide adequate safeguards to prevent loss, damage, or theft of capital assets.

Capital assets and property/equipment of a relatively permanent nature with an expected useful life of more than one year and a unit cost that meets or exceeds the following:

  • Buildings $ 25,000
  • Building Improvements $ 25,000
  • Equipment $ 5,000
  • Infrastructure $500,000
  • Intangible Assets (software) $ 5,000
  • Land (no minimum)
  • Land Improvements $ 25,000
  • Library Books & Materials (no minimum)
  • Museum & Art Collections $ 5,000

It is the policy of the University to conduct periodic inventories of all property/equipment. Business Services - Property Management conducts such inventories- at a minimum- on a biennial basis.

Administration & Finance

The University of Montana-Missoula

University Hall 126

406.243.4676 / fax: 406.243.5537

Carol.Buerman@umontana.edu