One of the data fields in OASIS.  Please see below for details regarding each of the different asset status types.

A – Status (Approved)

Earned credit equipment results from in-store credit, or any similar type of credit based on accumulated spend.  An equipment item acquired through earned credit is considered equipment if it meets the equipment definition (value greater than $5,000 and a life expectancy of more than one year).

A gift is considered equipment if it meets the equipment definition (value greater than $5,000 and a life expectancy of more than one year).  University departments are responsible for approximating the fair market value of a gift at the time of receipt.  If the approximate fair market value is $5,000 or more and the life expectancy is more than on year, then the gift must be tagged and inventoried.

A lease that does not meet one or more of the criteria included in the Capital Lease definition.

A lease that meets one or more of the following criteria:

Documents written at award closeout or at the special request of the granting agencies. These reports list all property purchased under a grant or contract (including property under subcontractors) regardless of ownership.

Documents containing government property (property titled to the federal government and bought under an award).  The list covers property bought between the first day of the award and the federal fiscal year close. 

The obligation to account for equipment activities, accept responsibility for them, and to report on them in a transparent mannner. 

Equipment brought in to or sent to the University by the Government to be used for a specific task or research process during the duration of a grant or contract.

The removal of components for reuse rendering the parent unit unusable.  Cannibalized equipment must be reported to Equipment Inventory on a Property Activity Request - Form 1024. Unused parts must be disposed of through the Surplus Property Office.