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Threshold Change - Equipment Management

What will happen to the assets under $5,000 in the fixed asset system (OASIS)?

The equipment assets under $5,000 acquired prior to July 1, 2016 will remain active in the OASIS fixed asset system, until they are fully depreciated.  These assets will have a new title and the asset information will continue to be available to departments through the OASIS ad hoc reporting function.  After July 1st, these items will no longer be included in the physical inventory process. 

My department wants to continue to track the assets under $5,000.

After July 1st, departments will no longer be required to physically inventory equipment under $5,000 and EIO will not be tracking new equipment purchases under $5,000 (with the exception of sensitive items, such as weapons and art collections).  Asset information for purchases prior to July 1st, will be available through the OASIS ad hoc reporting function.