Division of Finance & Operations

Fixed Assets | Off-Campus Use of Property

University property is defined as any item of tangible personal property which is possessed by a university department, whether operable or inoperable, purchased or donated. Use of University property is restricted to purposes related to the University's mission, whether the property is physically located on or off-campus.  State law forbids the lending of university-owned property to individuals or organizations not connected with the university. 

Off-Campus use of University Property

  1. Equipment may not be removed from campus until a university property tag has been affixed and Authorization for Off-Campus Use Form is completed. 
  2. Off-campus use of university property may be authorized after completion of the Authorization Form for Off-Campus Use.  The individual checking out university property is responsible for completing the form. 
  3. Approval must be given by the department head, dean of the college or administrative officer before property can be removed from campus.  The Accounting Manager is responsible for maintaining Authorization Forms and will request updated authorizations at appropriate intervals.
  4. Off-campus use of property may be authorized for a period of up to 12 months.  Subsequent periods not to exceed 12 months must be authorized by completing a new authorization form.  Approval may be revoked at any time at the discretion of the individual giving the approval, the supervisor of the requestor, or a university official.
  5. Persons approved to use university property off-campus will be responsible for property damage due to misuse or neglect.
  6. Departments such as School of Music or the Library may be exempted from completing the Authorization Form.  Laptop computers checked out from IT for international travel are also exempt from completing the Authorization Form.
  7. Individuals that have checked out university property for off campus use may be required to return property to campus for any physical inventory.

 

Surplus Property

Department heads may declare property as excess to their department.  Departments are encouraged to attempt to transfer that property within their college or division at no cost prior to declaring it “surplus”. Transfers must be reported by completing Transit/Surplus Form and delivering to the Accounting Manager.

Trade-Ins of Surplus Property

If a department is replacing an item with an identical or like item, trade-in should be considered.  The purchasing staff is responsible for the purchase of new equipment and will review disposal alternatives.  New purchases should be bid with and without a trade-in to determine the value or marketability of a like item.  If the item has good marketability, the value can be determined by the purchasing staff and the owning department and then compared to trade-in value, prior to any decision on its disposition.  Purchasing staff will explore alternatives and make recommendations.  If trade in is accepted, the asset tag number and trade in value is communicated to the Accounting Manager.