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