Property and Equipment: Safeguarding Assets / Inventory.
Capital Equipment Tags. The Asset Records Manager shall assign each piece of capital equipment or personal property a UNK capital equipment tag that shall be affixed conspicuously to the property. Arrangements to tag the equipment will be made by the Asset Records Manager. No capital equipment tag shall be issued for property costing less that $5,000.00 individually unless specifically requested for tracking purposes by the purchasing department.
Recorded Inventory of Capital Equipment. The Finance Office maintains an inventory of property and equipment with an individual cost of $5,000 or greater. Giving full consideration to the cost/benefit of tracking, each department head is responsible, on behalf of his/her department, for determining whether an inventory of equipment with an individual cost less that $5,000 (e.g. camera equipment, scientific equipment, tools, etc.) should be maintained by the department when deemed necessary to safeguard and secure that equipment.
Physical Confirmations of Inventory. In preparation for the annual financial audit, the Asset Records Manager will print schedules of capital equipment by location, and will forward those schedules to designated individuals at each location or department for the purpose of confirming that the capital equipment is still on site and in working order. Each department is responsible for verifying the physical presence of each item on inventory and reviewing its condition for update purposes. Any discrepancies should be noted at each location and follow up conducted by the Asset Records Manager to determine if changes should be made to the current capital equipment schedule.
Lost or Missing Property. Property that cannot be located must be accounted for by the department. There are several ways to account for missing property:
- Produce a copy of a signed Asset Transfer / Disposal Form showing the item was transferred to surplus property.
- Produce a copy of an incident report from UNK Police and Parking Services showing the item has been reported as “stolen”.
- Produce a copy of a signed Asset Transfer/Disposal Form stating that the item cannot be located. Information should be included citing specific and valid reasons why the item should be deleted from the inventory listing. Before the item may be deleted from inventory, signed approval from the Assistant Vice Chancellor of Business and Finance must be obtained.
Surplus Property. The Asset Disposal Manager shall be responsible for the custody and safekeeping of University surplus property. The Asset Disposal Manager shall maintain a current and accurate inventory listing of surplus property and shall make that listing available periodically for campus-wide review. The inventory listing shall include a description of the property and an assessment of its current condition and value. The Asset Disposal Manager shall facilitate the sale or transfer of surplus property to other University departments or campuses, to other State agencies, or to outside entities in accordance with this policy. The Asset Disposal Manager shall be responsible for determining the terms and conditions of the sales or transfers. The Asset Disposal Manager is responsible for notifying the Asset Records Manager when these transactions occur. Upon notification by the Asset Disposal Manager, the Asset Records Manager shall be responsible for any intercampus, or interagency accounting entries necessary to complete the transaction, and for receiving and processing all proceeds from the sale of University property.
SAP Objects on Loan. Campus departments are responsible for recording laptops assigned to individuals and all desktop computers, printers and fax machines that are taken home or off campus on the employee's personnel record via SAP Objects on Loan. At the department head's discretion, SAP Objects on Loan can be used to track other items, as well.
Use of University Property in Off-Campus Work-Related Activities. If UNK property is removed from a department for off-campus work-related activities, the department must maintain written documentation of the department head's authorization which specifically identifies the equipment removed, reason for the removal, location, and dates removed and returned. Laptops assigned to individuals and all desktop computers, printers and fax machines that are taken home or off campus for work related use must be recorded on the employee's personnel record via SAP Objects on Loan.
Personal Use. Except when allowed by Board of Regents policy, University property should not be used for personal purposes and should not be removed from campus for personal use .
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