The responsibility for the Fixed Assets System (FAS) has been assigned to the Office of the Controller. FAS was implemented at Appalachian July 1, 1979, in order to more effectively manage those assets owned by the University.


Fixed Assets are defined as those tangible items with a unit cost of $5,000.00 or more including taxes, shipping, and other costs that make the equipment/ asset operative. Fixed assets normally have an estimated useful life of more than one year.


Purchases for items capitalized in the Fixed Assets System are coded to capital expenditure accounts. These accounts are classified as Capital Outlay expenditures (75XX5X).

System Function

  • Account for lost or damaged property due to fire, flood or disaster. The FAS information is essential in obtaining replacement funds or collecting insurance coverage.
  • Compliance with the requirements of the State of North Carolina that long lived assets be accounted for through an inventory control system.
  • Deter theft and aid in tracking property that is missing.
  • Facilitate transfer of equipment to fill a requirement on campus in lieu of new purchases.
  • Provide data to departments, which will aid in better utilization of equipment.
  • Determine the rate of depreciation on equipment for the purposes of calculating the University's overhead rate to Federal Agencies.

For more information and questions please contact Deborah Wood at 828-262-2636 or