ROWAN UNIVERSITY POLICY 

Title: Fixed Asset Policy
Subject: Accounting Services
Policy No: FIN: 2016: 04
Applies: University-Wide
Issuing Authority: President
Responsible Officer: Senior Vice President for Finance and CFO
Adopted: 05/30/2016
Last Revision: 12/22/2016
Last Reviewed: 12/22/2016

I.  PURPOSE

The purpose of this policy is to ensure that Rowan University owned capital assets, government funded and furnished capital assets are properly protected, controlled, and accounted for in accordance with the requirements established by Generally Accepted Accounting Principles (GAAP) as promulgated by the Governmental Accounting Standards Board (GASB) and with the regulatory standards set forth in the Federal Acquisition Regulation (FAR) and Office of Management and Budget (OMB) Circular A-110.

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1. Generally Accepted Accounting Principles (GAAP) as promulgated by the Governmental Accounting Standards Board (GASB) and with the regulatory standards set forth in the Federal Acquisition Regulation (FAR) and Office of Management and Budget (OMB) Circular A-110. Additional New Jersey specific guidelines can be New Jersey Circular No. 11-18-OMB, Capital Assets.
 
2. Circular A – 110 Revised 11/19/1993 As Further Amended 09/30/1999

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