UNM Property Management and Control (Policy 7710), states that inventoried property is defined, with one exception, by the following three criteria:

  1. The cost is greater than $5,000,
  2. The property has a useful life of more than one (1) year, or
  3. The property costs less than $5,000 but require separate tracking for University insurance purposes (i.e., drones, computers, loaned or leased property.

Inventoried property costing more than $5,000 is also defined as equipment and is capitalized on UNM's financial statements and is depreciated.