Over 40,000 of UW’s assets fall between $2,000 and $4,999. A full costing study of the administrative burden of maintaining a physical inventory for these 40,000 assets revealed that the cost and burden of maintaining the lower threshold is significant. The driving force behind this change is a significant reduction in both faculty and staff administrative burden at all three campuses. The change will also address threshold alignment issues between the UW and federal, State and local government. Almost all government agencies use the $5,000 threshold and, at times, our lower threshold causes misunderstandings when dealing with these entities.
The types of assets that will be included are: fabricated equipment, furniture and other tangible items of personal property that meet the definition of equipment above.
Art collections, sensitive inventories and special collections are not part of the change.