Glossary
- Accountable Property Officer
- Individual responsible for the physical possession and control of all equipment entrusted to his departments’ activities. The Accountable Property Officer (APO) is typically the Department Head.
- Agency Head
- Chief Executive Officer of each A&M System Member. Each Agency Head is responsible for the control of and accountability for all equipment possessed by the Member.
- Alternate APO
- Designated by the Accountable Property Officer, the Alternate Accountable Property Officer performs the daily functions of property management for his department.
- Capitalized Asset
- Equipment that has a value of $5,000 or more and an estimated useful life of more than one year.
- Controlled Asset
- Equipment that does not meet the capitalization threshold but that must be inventoried and tracked due to the nature of the item.
- Equipment
- Any possession owned by or entrusted to a Member of the A&M System having sufficient value to warrant inclusion in fixed asset financial reports or, due to the nature of the asset, is required to have management controls placed on it. Equipment does not include consumable items nor does it include real property. It can be either a capital asset or controlled asset.
- Equipment Held in Trust
- Assets held by an A&M System Member on behalf of a non-state entity (such as art collections owned by families, estates, and others) and which are under the temporary control of the Member.
- Member/A&M System Member
- Any component institution or agency of The Texas A&M University System.
- Missing
- Equipment whose disappearance cannot be explained.
- Personal Property
- See Equipment.
- Pilferable Item
- An equipment item that is highly susceptible to theft, loss or damage due to monetary value, intrinsic value, convertibility to unauthorized use, attractiveness or relatively small size.
- Property Manager
- Individual responsible for the overall management of the Member's equipment, including the maintenance and control of the central inventory records.
- Real Property
- Land, buildings, improvements to land or buildings, and infrastructure.
- Salvage
- Any equipment that through use, time, or accident is so depleted, worn out, damaged, consumed, or outdated that it is obsolete and/or can no longer serve the purpose for which it was originally intended.
- Sensitive Item
- An equipment item that is potentially harmful or hazardous or is of high monetary value and easily converted to unauthorized use or disposal.
- Stolen
- Any equipment missing by theft, whether by forced removal, burglary, theft by employees, or other criminal acts.
- Surplus
- Any equipment which is in excess of the needs of a Member and which is not required for its foreseeable need. Surplus property may be new or used but must have additional useful life.
- Surplus Inventory Supervisor
- Individual responsible for the management and disposal of excess equipment.
- Surplus Procurement Officer
- The official representative of the A&M System Member in matters pertaining to the acquisition of surplus property.
- Trade-in
- Surplus or salvage property that is exchanged for new property of the same general type which is in the best interest of the State.
- Trust Property
- Assets held by an A&M System Member on behalf of a non-state entity (such as art collections owned by families, estates, and others) and which are under the temporary control of the Member. This is the same as Equipment Held in Trust.
