Financial Affairs Policies


UMB Non-Capital Assets

Financial Affairs   |   Approved November 1, 2015

Responsible VP/AVP

Dawn M. Rhodes, DBA, MBA

Revision History

Effective Date:  November 1, 2015


To further define and support the University System of Maryland inventory control policy which is geared to loss prevention and is intended to:

  1. Reduce the risk of loss or misappropriation of non-capital assets (NCA) to a reasonable level
  2. Set forth the minimal level of control for NCAs
  3. Establish department responsibility for safeguarding NCAs

Policy Statement

  1. Departments are responsible for using prudent financial management, enforcing sufficient internal control procedures, and exercising custodial responsibilities to safeguard NCAs that belong to UMB. 
  2. All UMB personnel must immediately report lost, damaged, or stolen NCAs to their supervisor.  UMB Affiliates must immediately report lost, damaged, or stolen NCAs to their UMB fiscal administrator.
  3. NCAs purchased using sponsored funds or gift funds are UMB property unless the terms of the grant, contract or gift specify otherwise.
  4. All UMB personnel and UMB Affiliates are required to comply with UMB policies and procedures governing the purchasing, security, and disposition of NCAs.

Applies To: All UMB personnel and UMB Affiliates.


Acquisition Cost – Cost or value of an NCA which is recorded in UMB financial records.  Acquisition Cost includes the asset cost, tax, shipping, setup costs, and discounts.  Acquisition Cost does not include additional items listed separately on the invoice, unless the additional items are required components to complete the NCA.  For example, application software (e.g. Microsoft Office, Adobe, etc.) listed separately on an invoice for a laptop is not included in the laptop Acquisition Cost.  However, operating system software (e.g. Windows, Linux, etc.), memory, or other additions listed on the invoice that are integral to the laptop are included in the Acquisition Cost.

Non-Capital Asset (NCA) – Equipment or other physical assets with an acquisition cost of $1,000 or more but less than $5,000 per unit and with a useful life greater than one year. 


UMB Affiliate - Person employed by an entity that has a relationship with UMB authorized by the Board of Regents or by law, e.g., faculty practice plan organizations, University of Maryland Baltimore Foundation, Inc. and other affiliated foundations, the University of Maryland School of Medicine Alumni Association, Inc. and other recognized incorporated alumni associations, UMB’s recognized affiliated business entities, the University of Maryland Medical System/University of Maryland Medical Center, and other University System of Maryland institutions.  A UMB Affiliate approved to have UMB fiscal authority is responsible for the administration and reporting of UMB resources. 


UMB Funds - All funds administered by UMB, regardless of fund source.  UMB funds include State appropriated general funds, tuition, fees, and other income, as well as auxiliary funds, revolving/discretionary funds, Designated Research Initiative Funds, gifts, contract or grant revenues, and other restricted funds.   

Scope and Exceptions


This Policy applies to NCAs purchased using UMB Funds, donated to UMB, or purchased for UMB using funds available for UMB’s use through an affiliated organization (e.g. a foundation or practice plan organization).  NCAs that are computers and similar equipment used for data storage must also comply with UMB policies on information technology, devices, and security. 

This Policy does not apply to firearms.  Policies and procedures for firearms are available through the Department of Public Safety. 

Exceptions / Request Process:   

Exceptions to this policy must be approved in writing by the CAFO.   A request for exception may be submitted to the Controller using the Policy or Procedure Exception Form available on the Financial Services website.  Alternatively, a request may be submitted in a memorandum to the CAFO.  Requests must be signed by the Dean/Vice President or the Dean’s/Vice President’s designee (i.e. Associate Dean/AVP). 

Roles and Responsibilities

The Department of Financial Services under the direction of the Chief Administrative and Finance Officer (CAFO) is responsible for establishing procedures to promote compliance with this Policy.

All UMB Personnel are required to abide by the procedures prescribed in the UMB A&F Financial Services Standard Operating Procedure Non-Capital Assets.

UMB personnel who do not properly use, care for, and control NCAs may be subject to disciplinary action up to and including termination of employment.  Any UMB Affiliate with UMB fiscal authority who does not properly use, care for, and control NCAs will lose the privilege of being a UMB Affiliate, will have UMB fiscal authority terminated, and will be required to surrender assigned NCAs belonging to UMB.  UMB personnel and UMB Affiliates who misuse or misappropriate NCAs may be referred for criminal investigation and possible prosecution.

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