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Cost and Capital Assets

Reporting the Use of Facilities

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Cornell University expects its units to maintain accurate and complete inventories of their space, through the procedures contained herein.

Capital Assets

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Cornell University acquires, records, inventories, maintains, and disposes of capital assets. Each operating unit is responsible for following university procedures to achieve accurate capital asset reporting and compliance with government requirements.

Recharge Entities, Ithaca Campus Units

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Cornell University recharge entities recover some or all of the cost of their products and services through user fees, subject to the requirements outlined in this document.

Charging Directly to Sponsored Projects Costs that are Normally Considered Indirect

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Cornell University expects its faculty, staff, and students, when dealing with federal and other sponsored funds, to follow Generally Accepted Accounting Principles (GAAP); comply with all government and sponsor rules and regulations; and follow established standards for determining when it is…