Adding Personal Property - Gift
Gifts of Personal Property
Private individuals and corporations have the option of giving equipment directly to the University or through the UO Foundation as a gift. Since the receiving department did not purchase the equipment, there is no electronic invoice generated to notify Property Control of the new asset. As a result, the department will need to follow the steps noted below to ensure the asset is added to the inventory records. NOTE: There are specific IRS requirements when disposing of gifted equipment. Prior to disposing of gifted equipment, review the surplus-property section.
As with other gifts, complete the UO Report of Gift and submit it to Business Affairs. For those gifts that meet the definition for capitalized assets Property Control will assign an Inventory Tag number, add the item to the Banner Fixed Assets System and Arrange to apply the Tag and photograph the asset.