Property Management

PROPERTY MANAGEMENT AND INVENTORY CONTROL PROCEDURES

University property is purchased for use in the conduct of official University business. University property should be removed from campus only for conducting University activities and with the approval of the department head. Property removed from the ESU campus should be safeguarded against loss and damage in transit. It should be returned to the campus as soon as reasonably possible. University property is not to be used in the conduct of a private business or for profit activities.

To meet the requirements of property management of inventoried items, property management is overseen by the Accounting Services Office. Records are kept on property purchased by the University with a value of $5000.00 or more. Information pertaining to the acquisition, transfer, and disposition of equipment is maintained by the Accounting Services Office. If any questions arise concerning property procedures, contact Ashley Brandt at 620-341-5137.

University officials have NO authority to dispose of state property without prior approval of Property Management and the ESU Controller. This includes disassembling an item and using it for parts.

Inventory Responsibilities of department heads

Approval of Invoices

When a department head approves invoices for payment of new equipment, the brand name, model, and serial numbers should be added to the invoice, if not provided by the vendor. If the property is to be inventoried under a different organization number than used to pay for the item, please indicate the correct organization number to be used for inventory purposes. If the item is an upgrade to a previously purchased item, it should be noted and the decal number should be included.

If items which would normally be inventoried are being purchased by one University department for resale to other University departments, it should be so noted on the initial purchase and when approving the invoice.

Building identification

Department heads will indicate the building in which the property is located. The two digit ESU building code and room number should be entered on the invoice.

Transfer or disposal of property (with a value of $5000 or more and listed on inventory)

All University property with a value of $5000.00 or more and listed on inventory must be disposed of according to guidelines established by the State Surplus Property Program. When disposing of inventory, a Property Disposition Form must be completed through OnBase. The form must be approved by the Accounting Services Office and the University Controller. Next, the form is forwarded to the Facilities department for appropriate action to be taken. The Physical Plant will follow the Secure Disposal and Reuse Policy that was established by Faculty Senate and approved by the University President, in October of 2009. University Personnel DO NOT have the authority to dispose of state property without prior approval by the Accounting Services Office and the ESU Controller. This includes disassembling an item and using it for parts.

To transfer property from one department’s inventory to the inventory of another department, the Property Transfer Form should be prepared and submitted to the receiving department for a signature. The receiving department should forward the form to the Accounting Services Office. After the transfer is recorded by the Accounting Services Office, a copy of this form will be forwarded to the Facilities department if it is necessary for Physical Plant staff to move the transferred items.

Transfers of grant purchased items

Transfers of property that was purchased by externally-sponsored research projects or other external funding sources, may be approved only if accompanied by a formal recommendation from the current institution. The formal recommendation must certify the following:

a.) The project investigator is moving to another academic institution and the principal investigator’s financial support is also transferred by the granting agency without interruption;

b.) The granting agency approves the transfer to the new institution of property purchased wholly by grant funds;

c.) Such property was specialized in nature, acquired specifically for the investigator for that particular program, and is essential to continuance of the program without undue interruption in the work;

d.) The originating institution does not need the property in its current related research program;

e.) The entire cost of physical transfer of the property will be covered by the granting agency or the recipient institution.

Lost, stolen, or destroyed items

When property is discovered missing, the University Police should be notified immediately and a police report should be filed for the missing item. Also, the Accounting Services Office should be notified as soon as possible. Finally, the department should follow up by submitting a Property Disposition Form in OnBase.

trade-in or replacement items

A Property Disposition Form must be prepared and submitted through OnBase. The form should list the item(s) to be offered in trade. The Property Disposition Form should accompany the related Purchase Requisition. No property may be released or traded to a vendor before the Property Disposition Form is approved.

physical inventory procedures

The annual physical inventory is the means by which each department reports on the custody of the permanent property assigned to the department. A physical inventory is required to be conducted annually by the University. The Accounting Services Office prepares the annual physical inventory reports and records the results for the University Controllers and the State Division of Accounts.

The Accounting Services Office with disperse inventory reports to each department. The department is required to annually locate and verify all of the property located on inventory report. If there are any discrepancies found in the description or location of any item, a notation must be emailed to Ashley Brandt in the Accounting Services Office. Please verify that serial numbers of physical inventory corresponds with the inventory report. If the listed serial number is incorrect, please notify Ashley of the correct number. After all items have been verified on the inventory report, the report needs to be signed and returned to the Accounting Services Office. Any necessary corrections to the department's inventory will be processed by the Accounting Services Office.

non-inventoried property

Departments are responsible for safeguarding and accounting for property valued at less than $5000.00 and not included on the University’s central inventory. To dispose of non-inventoried items, departments must complete a Physical Plant Service form. If items are to be offered for sale or donation, prior approval must be received from the Accounting Services Office and the ESU Controller. Items that are lost or stolen must be reported to the University Police and a police report filed as soon as possible. University officials have NO authority to dispose of non-inventoried property.