Capital assets, sometimes referred to as fixed assets, are resources of the University and are included on the University’s financial statements. A capital asset is long-term property that UF owns and uses in fulfilling its mission and is not expected to be consumed within one year of acquisition. The Asset Management module of myUfl contains the official property record of Capital Assets and is the data source for financial reporting of capitalized property. The Asset Management Department is responsible for managing and maintaining these property records.