The Asset Management module, which is part of the M-Pathways Physical Resources System, maintains information about equipment the university owns including its value, location, and more. On central campus, the Property Control Office and the Plant Fund area in Finance administer the Asset Management module. For Hospital and Health Services, the UMH Facilities Administration and the Hospital Accounting Office administer the Asset Management module.
U-M uses the Asset Management module to officially record and track the following two types of assets, which are distinguished by dollar amount:
- Financial Assets include moveable equipment valued at $5,000 or more or non-moveable assets, such as buildings and land. These assets are centrally tracked and capitalized. Moveable equipment is also centrally tagged and depreciated.
- Campus Assets are assets valued between $1,000 and $4,999.99. These assets are not capitalized or depreciated. No accounting entries are generated for Campus Assets because they are not subject to capitalization and depreciation. Examples include computers, printers, copiers, and so on.
Units that use the Asset Management module can obtain information about everything from computers, white boards, and fax machines to million dollar microscopes.
Using M-Pathways Asset Management, units can:
- View asset data including purchasing details, depreciation information, etc.
- Verify, correct, or enter additional details (e.g., location, contacts, manufacturer information)
Data from the Asset Management module is imported into the U-M Data Warehouse, and units can run predefined and customized reports against this data. Asset Management data enables the university to assess its financial position more accurately and to plan for major replacement purchases.
For information about disposing of assets, see the Property and Space Management Department.