Policies
Click to review the below policies related to capital asset purchases and allocation of depreciation:
FIN-ACC-150: Ownership, Depreciation, and Capitalization of University Assets
Click the above link to review the Indiana University policy on the ownership, capitalization, and depreciation of any capital asset in the custody of Indiana University. This policy outlines the depreciation process for internal assets as well as the process to review ownership for capital assets at IU. This policy helps establish ownership guidelines for university capital assets in the custody of Indiana University, to define the capitalization criteria for the capital asset categories within the university, and to convey the method of depreciation used for capital assets. Review this policy in full for details about the process surrounding ownership, capitalization, and depreciation of capital assets, the scope of the policy, reasoning for the policy, definitions for commonly used phrases related to this process, contacts to reach out to for further questions, and the history of this policy.
FIN-ACC-400: Recharge and Service Center Activity
Click the above link to review the Indiana University policy on recharge and service center activity. This policy provides the necessary guidance to ensure that any internal transaction that records income to one university account and expense to another meets compliance criteria. In particular, it ensures compliance with Federal OMB Uniform Guidance and related federal cost accounting standards. Review this policy for information about the procedures around recharge and service center activities, the scope of this policy, reasoning for this policy, definitions for common terms surrounding these activities, contacts for questions related to recharge activity, the history of this policy, and for information about how this policy impacts different units and employees at IU.
FIN-GCA-70: Equipment Transfers
Click the above link to review the Indiana University policy on equipment transfers. This policy establishes protocols for equipment transfers out of the university. Review this policy in full for details about the process surrounding equipment transfers, the scope of the policy, reasoning for the policy, procedures, and the history of this policy.