Reporting Requirements for Annual Financial Reports of State Agencies and Universities

Capital Assets

Controlled Assets

Controlled assets are assets of the state identified by the Comptroller’s office that must be secured and tracked in the SPA system. A controlled asset’s value is below the capitalization threshold and is not depreciated or reported on the balance sheet.

Agencies that secure and track controlled assets must report those assets in the SPA system using reporting rules promulgated by the Comptroller’s office. In addition to the controlled assets identified by the Comptroller’s office, an agency may secure and track assets it considers to be high risk or for management purposes. For a list of current controlled assets, see “Appendix A” in the SPA Process User’s Guide.