Types of Property
The university tracks the following types of property in its Asset Management system.
- Land and land improvements
- Buildings and building improvements
- Improvements other than buildings
- Leasehold improvements
- Construction work in progress
- Works of art
- Library books
- Intangible assets – primarily purchased software, this can also include internally-developed software, web sites, copyrights, patents, and easements.
- Equipment – this is the only type of property that is tagged. The guidance below regarding acquisition and disposal relates mainly to equipment.