Purchase Guidelines

Assets

Assets also called inventory are categorized as capital assets or controlled assets.

  • Capital asset equipment have a value of $5,000 and greater and a useful life of more than 1 year
  • Controlled assets generally have a value between $500 and $4,999.99
  • Class codes and their thresholds can be seen in Canopy or FAMIS FFX screen 581

Controlled Assets

  • Controlled assets are defined by the Comptroller’s Office and must be inventoried.
  • A list of the required controlled items can be found in Canopy FFX Tables or at State Property Accounting guide website. 
  • Controlled items include sound systems/audio equipment, cameras, televisions/video players, computers, data projectors, smart phones/tablets plus other hand held devices and laptops having a unit value of $500.00‐$4,999.99.  All firearms (hand guns, rifles, shot guns, etc.) and drones must be controlled regardless of dollar amount.
  • Controlled assets object codes are in the range of  5775-5799.

Capital Assets

  • Capital Assets are real, personal, or intangible property that has a value equal to or greater than the capitalization threshold for the particular asset classification and have an estimated useful life of greater than 1 year. Capitalization threshold and AFR categories as prescribed by the State of Texas
  • The following thresholds will apply to capital property, according to the State Property Accounting Process Users Guide:
    • Class of Asset Threshold
      Land/land improvements Capitalize All
      Buildings/building improvements $100,000
      Facilities & other improvements $100,000
      Infrastructure $500,000
      Personal property (equipment) $5,000
      Library books/materials (collections) Capitalize All
      Works of art/historical treasures Capitalize All
      Computer software $100,000
      Internally developed computer software $1,000,000
      Leasehold improvements $100,000
  • Capital assets object codes are in the range of  8000-8999

The links below provide guidance on how to add controlled or capital equipment to inventory in FAMIS.  If using the AggieBuy requisition process it will automatically set up the preliminary asset in FAMIS if coded appropriately.  Then when the items are received the asset information must be updated in FAMIS.  If purchasing a controlled item using the Payment Card, the asset must be manually set up in Canopy/FAMIS and then the asset number must be documented on the transaction in Concur prior to the expense report being submitted for approval.