{"id":2765,"date":"2025-06-25T08:35:55","date_gmt":"2025-06-25T13:35:55","guid":{"rendered":"https:\/\/blogs.und.edu\/finance\/?p=2765"},"modified":"2025-06-25T08:35:55","modified_gmt":"2025-06-25T13:35:55","slug":"upcoming-change-asset-capitalization-threshold-increasing-on-july-1-2025","status":"publish","type":"post","link":"https:\/\/blogs.und.edu\/finance\/2025\/06\/upcoming-change-asset-capitalization-threshold-increasing-on-july-1-2025\/","title":{"rendered":"Upcoming Change: Asset Capitalization Threshold Increasing on July 1, 2025"},"content":{"rendered":"<p><strong>What\u2019s Changing?<\/strong><br \/>\nStarting July 1, 2025, the minimum dollar amount at which UND capitalizes assets will increase from\u00a0<strong>$5,000<\/strong> to<strong> $10,000<\/strong>. This change follows updates to North Dakota law and guidance from the North Dakota University System (NDUS) and the ND Office of Management and Budget (OMB).<\/p>\n<p><strong>What Does This Mean?<\/strong><\/p>\n<ul>\n<li><strong>For UND\u2019s financial statements<\/strong>: Asset purchases of\u00a0<strong>$10,000 or more<\/strong>\u00a0will be treated as capital assets.<\/li>\n<li><strong>For grants and contracts<\/strong>: UND will continue using the\u00a0<strong>$5,000 threshold<\/strong>\u00a0until a new F&amp;A\/indirect rate proposal is submitted and approved. This means:\n<ul>\n<li>Assets costing\u00a0<strong>$5,000 or more<\/strong>\u00a0will continue to be <strong>excluded<\/strong> from indirect cost (F&amp;A) calculations.<\/li>\n<li>Assets costing\u00a0<strong>less than $5,000<\/strong>\u00a0will continue to be <strong>included<\/strong> in indirect cost (F&amp;A) calculations.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><strong>How Will This Affect You?<\/strong><br \/>\nStarting July 1, 2025, you\u2019ll need to use different account codes depending on the cost of the asset:<\/p>\n<ul>\n<li><strong>Under $5,000<\/strong>: Use account codes starting with\u00a0<strong>551XXX or 552XXX.<\/strong><br \/>\n(e.g., 551005 for non-capital computer equipment)<\/li>\n<li><strong>$5,000 to $9,999<\/strong>: Use account codes starting with\u00a0<strong>553XXX or 554XXX. <\/strong>These accounts will be available to use starting 7\/1\/2025. These asset purchases will NO LONGER receive a Major Equipment tag from Asset Management.<br \/>\n(e.g., 553005 for computer equipment in this range)<\/li>\n<li><strong>$10,000 and above<\/strong>: Use account codes starting with\u00a0<strong>691XXX or 693XXX. <\/strong>These accounts will be renamed to reflect the new $10,000 threshold starting 7\/1\/2025.<br \/>\n(e.g., 693005 for computer equipment in this range)<\/li>\n<\/ul>\n<p><strong>Have Questions?<\/strong><br \/>\nEmail the Asset Management team at:\u00a0<a href=\"mailto:und.assetmanagement@und.edu\"><strong>und.assetmanagement@und.edu<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>What\u2019s Changing? Starting July 1, 2025, the minimum dollar amount at which UND capitalizes assets will increase from\u00a0$5,000 to $10,000. This change follows updates to North Dakota law and guidance from the North Dakota University System (NDUS) and the ND Office of Management and Budget (OMB). What Does This Mean? For UND\u2019s financial statements: Asset [&hellip;]<\/p>\n","protected":false},"author":157,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2765","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Upcoming Change: Asset Capitalization Threshold Increasing on July 1, 2025 - Finance Updates<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/blogs.und.edu\/finance\/2025\/06\/upcoming-change-asset-capitalization-threshold-increasing-on-july-1-2025\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Upcoming Change: Asset Capitalization Threshold Increasing on July 1, 2025 - Finance Updates\" \/>\n<meta property=\"og:description\" content=\"What\u2019s Changing? 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