Removing assets
When a capital asset is no longer needed or usable, the department that owns the asset is responsible for properly removing the asset and updating the asset record in KFS.
Transfer the asset
- Used by another university department
- Will be externally sold or donated (transfer to the MSU Surplus Store)
- Will be destroyed or discarded (transfer to the MSU Surplus Store)
Retire the asset
- No longer functional
- Will be cannibalized for parts by the owning department
- Has been lost, stolen, or destroyed (with or without malicious intent)
Lost, stolen, or destroyed assets
If a capital asset has been stolen or maliciously destroyed, the owning department must contact the MSU Police Department for an incident report. The incident report must be attached to the asset retirement eDoc in KFS.
If an asset has been lost or will be destroyed (no malicious intent), the owning department must complete the Capital Asset Property Loss form (PDF) and attach it to the retirement eDoc for approval.
Learn more about lost, stolen, or destroyed assets.
