Common Problems & FAQ

Home Asset Management Common Problems & FAQ

What if no inventory number exists, how is it removed from inventory?

If there is no inventory number on a piece of equipment and it does not appear on the departmental inventory list, it probably does not meet the capitalization requirements. That does not override the requirement of reporting the department’s request to dispose of equipment. ALL equipment, surplus supplies and materials must be reported on the removal section of the Disposal form and Board approval must be obtained before its disposal. The Policies and Procedures letter also states that under NO circumstances should equipment be thrown away. Exceptions to this will be decided by Asset Management.

How often do you have auctions?

Sealed bid auctions are usually held twice a year, once during Fall and Spring semesters.

How do I get a piece of surplus equipment removed from my department?

A Disposal form needs to be completed, signed by the Department Head and Director or Dean and sent to Asset Management. The removal request will be presented on the Report of Surplus Equipment to the Board of Regents. As disposal requests are received, Asset Management notifies Physical Plant of the items to be moved to the surplus warehouse. Depending on Physical Plant’s work schedule, the items should be removed as quickly as possible.

Can my department deliver equipment to the Physical Plant Surplus warehouse?

Yes, but only if the department has followed the proper procedures for disposition of surplus equipment. This should still be coordinated through Asset Management.

If a piece of departmental equipment has been stolen, how can I remove it from my departmental inventory?

In order to remove stolen equipment from a department’s inventory, a police report must be filed and a copy of the report must be submitted with the Disposal form requesting its removal. If no police report is attached, a note is placed on the Disposal of the absence of a police report and the piece will be removed as lost. This may cause problems if a department tries to replace the stolen equipment, but no police report is filed. Another point that should be mentioned about lost or stolen equipment is that the appropriate dean must be notified and he, along with the department head, must sign the Disposal form. If the department does not report to a dean, the Vice President responsible for that area must sign the Disposal form.

When a department transfers equipment to another, who initiates the transaction?

The department releasing the equipment should initiate the transaction on a Disposal form. Once the releasing department signs the releasing department certification, the form should be forwarded to the receiving department for completion of the information necessary to add the equipment to their inventory. The completed form is then forwarded to Asset Management.

What department name should go at the top of the transaction when equipment is being transferred?

The department receiving the equipment becomes the responsible department; therefore, their name belongs in the responsible department space at the top of the Disposal form.

What is the procedure when trading in a piece of equipment?

There are two processes that should be followed. First, on the invoice for the new equipment, it is very helpful to have the inventory number of the equipment being traded-in listed. Next, the department should complete a Disposal form removing the equipment that is traded-in and it is helpful to Asset Management to include on the Disposal form the Requisition or Pcard transaction identifier number of the new piece of equipment being purchased.