Knowledge Base - Services Portal

Purpose

The Asset Listing report provides general descriptive and financial information associated with UChicago assets, allowing users a "one-stop shop" to the majority of the required asset information.

Terminology

· Custodian: Individual responsible for the safekeeping of an asset or property on behalf of someone else. A custodian is not the owner of the asset, but rather holds it in trust for another person or entity.

· Useful Life: Estimated number of years that the asset will remain in profitable service. The Useful Life is derived automatically from the Major and Minor Category, though this value can be overridden at time of Addition or through the Adjust Asset process.

· Parent Asset Number: Unique number associated with the parent asset. The parent asset functionality is used to group all the subcomponent assets of a major (parent) asset for ease of processing and reporting. For example, this field may be used to facilitate the Mass Adjustments or Retirements process and project What-If Depreciation.

· Asset Number: A number that uniquely identifies each asset.

· For assets converted from the legacy Property Management System (anything added prior to 7/1/2024), the asset number is an alphanumeric value between three and six digits long.

· For assets added in Oracle Cloud on or after 7/1/2024, the asset number will be automatically generated upon asset addition starting with 1000001.