Lt. Col. Kevin A. Ryan

Ph: (540) 464-7270
Fax: (540) 464-7794

Smith Hall, 3rd Floor
Virginia Military Institute
Lexington, Virginia 24450

Contact Comptrollers Office

Frequently Asked Questions About Fixed Assets

How do I know if the new equipment I received needs to be tagged?

If the equipment was purchased with Equipment Trust Funds/Category I money, the equipment must be tagged. If the equipment was purchased with Departmental Funds or Category II money, and the purchase price is $2,000 or more, the equipment must be tagged. The only exception to this rule is computers; all computers must be tagged regardless of price.

Who fills out the equipment record?

The responsible person within the department should fill out the equipment record (E-form). Equipment records need to be filled out completely and submitted electronically to the Comptroller's Office.

How do I dispose of equipment?

Disposition of equipment forms should be filled out for each piece of equipment that is being disposed of. Whether that disposal be through trade-in, transfer to another department, cannibalization, or the equipment is being junked, a disposal form still needs to be filled out. Please fill the form out completely. If the form is not completed properly ( tag number, serial number etc.) it will not be removed from your inventory.