Iowa State University's movable capital equipment inventory records are managed in the Financial Accounting and Reporting (FAR) department. It also determines if purchases should be classified as equipment, records items in the equipment system, and assigns ISU equipment tag numbers.

Movable capital equipment includes purchased, fabricated, and donated items with a value of $5,000 or more, and a useful life of at least one year. Equipment purchases include the item cost (less any discounts), shipping and handling, installation, initial training, and component parts necessary for the equipment to operate. Items not included as part of the equipment are: consumable supplies, extended warranties, replacement parts, and license renewals. Donated items with a fair market value of $5,000 or more also need to be recorded in the equipment system.

Departments and units are responsible for ensuring the assigned inventory number is properly affixed to the equipment item in a viewable location for audit purposes.

Related resources

Equipment Trade-in Procedures

ISU tagged equipment that is traded when purchasing another piece of equipment should be listed separately on the requisition or purchase order.

  • Use the "Equipment Trade-in" spend category
  • Include the ISU tag number in the memo field
  • Enter a negative amount for trade-in value received

Fabricated Equipment Procedures

When a department is fabricating equipment or paying a deposit to have equipment fabricated by a vendor.

  • Contact Teresa Wacha for an ISU equipment tag number
  • Include the tag number on the requisition of the items purchased for building the equipment:
    • In the memo field
    • Review Required: Fabricated Equipment worktag selected on the requisition

Workday Asset Transfer Request (Location, Responsible Person, Cost Center)

Cost Center Managers and Cost Center Asset Liaisons have access to request an asset transfer. A transfer may be requested to update the location of an asset, change the name of the person responsible for the asset or transfer to a new cost center.

Equipment Transfers and Sales

For faculty members or researchers leaving ISU and plan to sell or transfer ISU equipment to their new employer.

US Government-owned Property Control Manual

For control and management of U.S. government property held by the university. Federal property includes property provided by the U.S. government and property acquired by the university for the U.S. government.

Biennial Inventory Review

Every two years in December, an inventory list is generated and distributed to departments for reconciliation to maintain accurate records. The list is required by state and federal mandates.

  • Amanda Ellingson should be notified whenever
  • For equipment transfers to another Cost Center, notify Amanda Ellingson
  • For equipment moves within a Cost Center, enter an Asset Transfer Request in Workday

Occasionally an outside company will want to rent lab space at ISU. The most common scenario is that they plan to move to the ISU Research Park at some time in the future but are waiting for space to open up or be remodeled. Below is the process that should be followed:

  • Sponsoring department contacts Financial Accounting and Reporting (FAR) for a rate. The sponsor needs to know the specific room(s) in which the company would be housed.
  • FAR will calculate the monthly rate for the room(s). See below for details on what is included in the rate.
  • Sponsoring department fills out the facility use agreement template. The contract is then signed by the company, sponsoring department, College Dean and Senior Vice President for Operations and Finance.
  • FAR establishes a department detail within the university's Commercial Space Rent Worktag (PG101454) for each rental agreement.
  • Sponsoring department invoices the company through ISU Accounts Receivables. Company pays rent which is deposited in to the Commercial Space Rent/department detail.
  • Space rent income is earmarked for building repair within the college.
  • The company must provide a certificate of insurance to verify coverage for the rented space. Questions regarding insurance, contact the Office of Risk Management.

The rate per square foot will consist of four elements and will be computed by the Controller's Department:

  • The basic O&M rate charged under the budget model. This will be consistent across all buildings. For FY24, this is $11.14 per square foot.
  • The average utility rate per square foot for the building being rented per FP&M Utility Enterprise contact Mark Kruse.
  • The depreciation per square foot for the building being rented per the annual depreciation schedule. Building square footage is found on the FP&M website.
  • The interest expense per square foot for the building being rented per the most recent Facilities & Administrative rate proposal.

Annual room cost is the cost per square foot times the square footage of the room. Monthly rate is 1/12th of that calculation. A clause will be added to the lease agreement that allows the rates to be adjusted annually.

The model described above is just for the rental of space.

If equipment will also be rented by the company, the equipment number and whether this will be exclusive use will need to be provided to FAR as well. FAR will verify that the equipment was not purchased with Federal funds. The department should determine the intended usage and FAR will compute a depreciation factor based on anticipated use. Equipment rental income and any other expenses reimbursed to the department (i.e.Telecommunication charges) may be deposited into the department's own account instead of the university's Commercial Space Rent account

  • When requesting the use of equipment to be included in the agreement, please provide the equipment tag number for each piece of equipment.
  • Fully depreciated equipment will be assessed a rate consistant with the information as if it was not fully depreciated. This is to ensure compliance with the university's Competition with the Private Sector policy.
  • When requesting the use of equipment that is under the capitalization threshold of $5,000, the rental rate will be $40/month. (The monthly rate is based on the average costs of non-capitalized equipment ($1-$4,999) depreciated over 5 years.)
  • Requested use of equipment already included in a fee-for-service (FFS) operation should be billed from the FFS. The rental should not be included in the rental agreement.

Please contact the FAR staff with any questions regarding the facility use agreement process.

Determining the most appropriate funding avenue can be challenging. Below is a list of funding categories to further define what types of projects and where they are most appropriately administered.

Sponsored Research Projects

Have a statement of work and budget to be conducted by ISU researchers in exchange for something of value to the sponsor (e.g. a deliverable, a technical report, milestones, or intellectual property).

  • Research may be fundamental/basic or applied and includes specialized projects.
  • Funding sources can include federal, state, local government, non-profit, industry, commodity, or consortia, and also funds that flow through these entities. Each funding source has unique advantages and peculiarities.
  • ISU expects to publish project results, be able to use the results in teaching and research, and to continue to perform additional research.
  • Investigators should route a GoldSheet to obtain institutional approval of a proposed statement of work and budget.
  • OIPTT Industry Contracts Team administers projects with industry and commodity sponsors, while OSPA Awards Team assists with awards from other sponsors.
  • Signature Authority: OIPTT Industry Contracts and OSPA Awards are authorized to sign sponsored research agreements. Faculty, principal investigators, and department administrators are not authorized signatories, but they may be asked to sign in a 'read and understood' capacity.


Provide support for academic activities from donors who expect nothing significant in return.

  • Guidelines for what are considered gifts can be found on the VPR Guidelines for Processing of Gifts and Sponsored Projects Funding.
  • The ISU Foundation Corporate and Foundation Relations team can assist with gifts which may require routing a Cardinal Sheet.
  • Signature Authority: Some donors require only the signature of the principal investigator, while others require additional signatures. ISU Foundation will assist with reviewing the agreement and obtaining necessary signatures.

Fee-for-Service Project

Are services routinely provided by an approved fee-for-service (FFS) at an established rate approved by the Financial Accounting & Reporting Office and are characterized by:

  • The service will be performed by a FFS established through ISU's Controller's Office
  • The FFS provides the service to others on a recurring basis using the same or similar methods and techniques.
  • Rates charged by the FFS must be approved by Controllers prior to starting the fee-for-service operation.
  • The service does not require project-specific approval from the IRB, IACUC, IBC or RSC; services provided pursuant to an approved, standing protocol that covers a class of services (i.e., an umbrella protocol) may be offered as fee-for-service.
  • No new intellectual property is anticipated.
  • Client owns the data and results except parties may agree that ISU will own rights to educational training materials.
  • Any publishing rights rest with the client.
  • No publications are anticipated by ISU faculty, staff or students.
  • The arrangement does not contain ISU cost sharing, matching funds, sub-awards or pass-through funding.
  • The FFS must use a fee-for-service agreement on the Office of University Counsel (OUC) webpage or a customized fee-for-service agreement developed by OUC for the FFS. If the client requires use of the client's agreement, the agreement must be reviewed and approved by OUC prior to execution.

Other Activities


Refers to providing professional services to a non-university entity, where the services are not a part of the employee's position responsibilities.

  • Consulting should be conducted without the use of university resources, unless appropriate fees are paid and approvals are obtained.
  • ISU's Conflicts of Interest and Commitment Policy, provides guidance for disclosure and approval of consulting activity.
  • The Office of Research Integrity can assist with questions about consulting.
  • Signature Authority: These agreements are entered into personally; ISU does not review or approve consulting agreements.

Unfunded Research Projects

May be very similar to Funded Sponsored Research Projects, but without external funding, such as informal collaborations and visiting scholar arrangements.

  • Investigators should route a GoldSheet (zero dollar) to obtain institutional approval of the external interaction.
  • Signature Authority: Depending on the nature of the agreement needed, it may be signed by an official from OIPTT, OSPA, or ISU administration.

Contact Information

OIPTT Industry Contracts Team 294-4740
Iowa State University Foundation 294-4607
Office of Research Integrity, Conflicts of Interest 294-7793
Office of Sponsored Programs Administration 294-5225
Office of University Counsel 294-5352
Financial Accounting & Reporting 294-6388
Sponsored Programs Accounting 294-4569

Financial Accounting and Reporting (FAR) staff authorizes new university programs. Worktags for sponsored programs that require a supplemental budget should be requested from the Office of Sponsored Programs Administration.

Program Requests

  • New Program: Submit a request in Workday (Create Request > Program -- New). Cost Center and ISU Resource Type (IRT) are required for the request.
  • New PI Incentive Worktag: Contact Sponsored Programs Accounting
  • New Gift Worktag: Contact the ISU Foundation
  • New FSU (Faculty Start-Up) Project Worktag: Contact Siti Sabtu-Schaper in Academic Affairs.

Department Detail (DD) Request

Internal Service Provider (ISP) Request

An ISP is required when billing internally. The relationship between a Program Worktag and ISP Worktag is 1:1. The ISP Worktag will be included at the transaction level (in addition to a Program Worktag), to identify transactions for reporting purposes.

  • For existing programs, navigate to: Create Request > Internal Service Provider (ISP) - New
  • For new programs that need an ISP, include it with the request for a new program task

Inactivate or Edit Worktag Request

Before inactivating a Worktag, confirm that:

  • No transactions are in progress (see ISU In Progress Transactions report, Find Budget Amendments, All Worker Costing Allocations)
  • No spend amounts are available (see ISU Financial Summary - Legislative and Advance Commitments and ISU Financial Summary - Restricted Funds reports)

Navigate to: Create Request > Inactivate/Edit Worktag

If needed, contact your ISD Specialist to move transactions.


  • Contact us
  • For more information about Worktags, see the "Foundation Data Model Overview" online module in Learn@ISU (Course ID: WKC-TRN-FIN-FDM-ON).

Financial Accounting and Reporting Staff

Accounting and Compliance staff work remotely. For assistance, contact an individual staff member or email the office (

Alex Barz

Accountant II

Stefanie Charlson

Accountant III

Tina Cowles

Associate Controller

Amanda Ellingson

Accountant II

Joe Golwitzer

Manager Accounting

Natalie Kline

Accountant II

Danielle Kuhl

Manager Accounting

Teresa Wacha

Accountant III

Jeannine Wilson

Manager of General Ledger Accounting

Directory and Hours

Operating hours, locations and contact information for all offices in the Controller's Department.