New Equipment
1. Dollar thresholds
According to the State University Construction Fund (SUCF) and Research Foundation guidelines, all assets valued at or above specific dollar amounts are required to have an asset control number assigned and a barcode property tag attached. This aids in the tracking of the asset while in service, including the annual inventory and with its surplus/scrap removal. It is campus policy to conduct an annual inventory audit through the use of electronic correspondence to the departments. As the holder of the property, a sampling of these assets will be verified.
- State-owned assets
All assets valued at $5,000.00 and above. - Research Foundation
All assets valued at $5,000.00 and above.
Dollar thresholds are used to determine whether an asset is tagged by the Property Control Office or at the Department level. Ownership tags to be placed by the department on equipment under the dollar threshold are available from the Property Control Office. An inventory of this equipment may be kept at the department level.
2. Department Responsibilities
The department/research personnel are responsible for the stewardship of all equipment purchased by (or on behalf of) the department/research project. The campus Property Control Office is assigned the task of administering the Property Control System (PCS) and ensuring that the campus abides by all State and Research Foundation requirements.
Specific responsibilities include:
- Reporting acquisitions of property.
- Notifying their PCC of changes in property status and location.
- Notifying the PCC of theft and loss of equipment.
- Providing access to property for tagging and inventory functions.
- Participating in verifying data included in required reports.
- Implementing and following security/safety measures as promulgated by the operating location.
This system of property management allows departments to better monitor the use and movement of equipment purchased by their respective offices. It also provides the campus with a tool to ensure that State and Research Foundation owned equipment is tracked properly, and disposed of when its service life is over. Inventory control tags will be provided by the property control office.