Fixed Assets
Financial Services fixed assets staff maintains the records for all capital equipment used by the University. University capital equipment has a purchase cost of $5,000 or more with a useful life of one or more years. The asset is capitalized and included in the business asset module of Workday.
- Download and fill out the Surplus Property Request Form.
- Email the form to financialservices@byuh.edu with the words "Surplus Property" in the subject line. Follow the instructions as listed on the "Surplus Property Request Form."
- Financial Services staff will send the completed form to ITI/ITO or CDC and will coordinate with their staff regarding your request for an arrangement for pick up, transferal, or disposal.
If the equipment is a capital asset, it will be transferred in Workday to the new Cost Center (if a transfer), which will incur any remaining depreciation expense for the remaining asset life.
Contact Fixed Asset staff at (808) 675-3407 or Gideon.kaonohi@byuh.edu if any questions.
- Each capital asset should be tagged with a BLUE BARCODE TAG that helps to identify each capital asset.
Equipment that costs less than $5,000 is regarded as non-capital equipment and is the sole responsibility of the department that purchased the equipment. To help department personnel track non-capitalized equipment, Financial Services has RED inventory tags available for departments to use.
Contact Fixed Asset staff at (808) 675-3407 or Gideon.kaonohi@byuh.edu if any questions.
The estimated life expectancy of various types of assets is listed below. The University uses the straight-line method of depreciation.
| Type of Assets | Useful Life |
| Computer and related equipment | 3-5 years |
| Vehicles | 5 years |
| Electric Carts | 7 years |
| Furniture and fixtures | 10 years |
| Other equipment | 8 years |
Contact Fixed Asset staff at (808) 675-3407 or Gideon.kaonohi@byuh.edu if any questions.
A physical inventory of all fixed assets is done at least once a year during the Fall. Sometimes it is necessary to do an inventory count more than once a year in certain areas for various reasons.
Department heads and personnel should not feel intimidated or singled out because of the inventory count. The physical count helps to maintain accurate records and accountability of University assets.
Each department should assign at one individual who is very familiar with the capital assets of the department to conduct the annual inventory count.
Contact Fixed Asset staff at (808) 675-3407 or Gideon.kaonohi@byuh.edu if any questions.