Budget & Financial ServicesUniversity of CincinnatiDivision of Administration and FinanceBudget & Financial Services

Budget & Financial Services

Asset Accounting

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To comply with state and federal regulations and industry accounting standards the University of Cincinnati must maintain accurate assets records. Capital Assets Policy 2.1.13 addresses capital asset ownership, stewardship and reporting responsibilities.

The UC Asset Management System (UCAMS) within UC Flex is the official university record for asset inventories, including value and accumulated depreciation for capitalized assets. Accuracy of the information within this system depends on Organizational Units completing the appropriate asset forms and making on-line entries to add, delete or modify asset records.
Although not required, an Organizational Unit may opt to track their non-capital assets in the UCAMS in lieu of manually tracking these assets on their own. Assets acquired, fabricated or government furnished under a grant or contract must comply with all contractual obligations set forth by the sponsor, including (but not limited to) establishing an asset record.

Please refer to the Resources Section for additional information.

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