What is a controlled asset? What is a capitalized asset?
A. Controlled assets are defined as fax machines, telecopiers, stereo systems, cameras, video recorders, laser disk players (TV, VCR, Camcorders), desktop computer printers, and laptop computers, costing between $500 and $4,999.99. A capital asset is any property (such as equipment, furniture, artwork, etc.) costing at least $5,000 and having a useful life of at least one year; two years if purchased with federal grant/contract funds. Generally, a capital asset must be self-contained for its primary use and have sufficient size to make its control feasible by means of marking with identification number and/or manufacturer’s serial numbers. These items are defined as such by the State of Texas State Property Accounting and must be requisitioned through Purchasing for inventory, tagging and tracking purposes.
