Asset Capitalization

Policy Number: 300-004 Business and Finance

Policy Title: Asset Capitalization 

Responsible Officer: Chief Financial Officer 

Responsible Offices: Office of the Controller, Office of the Chief Financial Officer 

Effective Date: March 5, 2012; Revised May 27, 2025

Next Review Date:  2028

Summary: It is the policy of Howard University to maintain effective internal controls to manage its capital assets, and to maintain proper records regarding the use and disposition of those assets in accordance with GAAP and 2 CFR Part 200.1. This policy applies to capital assets acquired with internal funding, funding originating from the Federal government or other external sources, and capital assets received by the University by gift or loan.

Keywords: capital assets, equipment, property, office machines, computers, vehicles, furniture, improvements, lifecycle, depreciation, useful life