Property purchased through System Supply Chain with external or University funds, where a designated entity other than the University will receive the property and title, will not be inventoried unless stipulated by the agreement with the entity providing the funding. This is applicable to sponsored project assets as defined by the sponsor. Property Associated with External SponsorsĪll property purchased or fabricated with external funding, or provided by an external sponsor, regardless of whether the title is retained by the sponsor or the University, must be inventoried, tracked, and disposed of in accordance with the terms and conditions of the external sponsor’s requirements. Once the college, school and division has identified the items to be inventoried, departments must have a mechanism in place to maintain up-to-date inventory records that allow for identification of items and reduction of theft. Other items which might be described as “sensitive in nature” or “high risk”, cost $500 to $4,999, and can be easily misplaced or stolen.Consult with your IT professional regarding appropriate and efficient tracking of technology. ![]() Guns, explosives and other weapons are required to be tracked.These items include the following and must be tracked throughout the useful life of the asset: It is the responsibility of each college, school and division to determine what is considered “sensitive” or “high risk” and to establish proper internal controls to protect University assets. Has sufficient individuality and size to make control feasible by means of identification tags, numbers and/or manufacturer’s serial numbers marked thereon.Ĭampuses must maintain records for items that fall below the capitalization threshold and that are deemed “sensitive in nature” or “high risk”.Is self-contained for its primary function (not a component part of any other piece of equipment) and.Policy StatementĮach campus must maintain official inventory records for all University owned capital property and equipment and: To ensure all moveable property and equipment is secured, accounted for, and properly recorded for effective management of assets. It also does not apply to consumable supplies. It does not apply to other items such as land, buildings, infrastructure, or equipment that is not movable or which is permanently affixed to buildings or infrastructure. This policy applies to all movable property and equipment owned by the University as well as moveable property and equipment owned by external sponsors but currently in the University's custody.
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