The primary mission of the Property Office is to keep track of all University equipment and capital assets, conduct periodic inventory observations, and to ensure that surplus equipment is disposed of in accordance with Federal and State regulations and University policies.
Main Functions of the Property Office:
- Equipment Tagging: All sensitive and capitalized equipment is tagged and recorded on the asset management system.
- Equipment Inventory: The Property Office assists departments in periodic inventory observations, understanding equipment requirements and procedures, and keeping equipment records up to date.
- Surplus Property: All disposals of surplus equipment assets must be coordinated with the Property Office. We assist departments in determining the appropriate disposal method for their surplus.
What is Equipment?
Equipment is a stand alone, movable and externally visible item. It has a unit price of $1,000 or more, a life expectancy of two years or more, and is repairable.
In addition, any computer, laptop, or tablet at any unit value needs to be tagged and tracked. Please use account code 741980 “IT Equipment under $5,000” for any purchase of IT equipment under $5,000. Please Note: You cannot purchase computing devices on a Procard without obtaining an IT Equipment Waiver Form prior to the purchase of IT equipment.
Departments are responsible for the physical custody of all equipment. Ensure that equipment is properly maintained, safe guarded, and is used only for official purposes. Submit appropriate reports in a timely manner. Conduct periodic inventory observations, maintain records, and notify Property staff of new equipment acquisitions, disposals, and any change in location