Property Management - Definitions

Property Management - Definitions

Cannibalization

The act of disassembling or dismantling property to the point of making the property unable to perform for its intended use.

Capital Property

Items with a unit cost of $5000.00 or more (inclusive of sales/use tax and freight) and a life expectancy of two years or more.

Exception: If a department purchases a computer, monitor, and keyboard, all on the same purchase order, all three of these items will be capitalized if the aggregate cost is $5000.00 or more. However, if you purchase these items on separate purchase orders the capital property definition will apply to each item separately.

Contractor-acquired Property

Property acquired or otherwise provided by a contractor for performance of a contract, to which the contractor holds title unless stated otherwise in the terms and conditions of the contract.

Fabricated Property

Property that is constructed by combining or assembling modular components and/or materials into one identifiable unit. The finished product must have a unit cost of $5000.00 or more and a life expectancy of two years or more. All materials regardless of cost will be capitalized.

Government | Grant | Contract Furnished

Property directly acquired by the Government and subsequently made available to the contractor.

Non-capital Property or Minor Property

Property with a unit cost of less than $5000.00 or a life expectancy of less than two years that is in the instructional equipment related category.

Personally-owned Property

Property belonging to an employee or student and being used at CSU Stanislaus for personal or business use.

Property Control

The office responsible for recording, tagging, inventorying, disposing and selling of all University and Foundation Donated Property.