Maintaining Property - Location

Maintaining Property - Location

Change in Location

Each building and room on campus has been assigned a unique location code. When a fixed asset is purchased and subsequently entered into the fixed asset inventory system, it is assigned a location code. The purpose of this code is to identify assets in a specific location for physical inventories, to establish insurance coverage needs by building, and to identify lost or destroyed items in a major disaster. It is the basis for the Equipment Depreciation allocation in the Facilities and Administrativee Rate Proposal. Each department is responsible for updating asset location codes accurately and in a timely manner.

When an asset is moved to a new location, the home department is responsible for completing an Asset Maintenance Form. The inventory number, the specifics of the change, and an explanation of the reason for the change should be documented on the form. The completed form should be routed to Property Control , who will update the inventory records as appropriate.

Use of Equipment by Employee when Not On Campus

Requests to use University equipment at off-campus sites by University personnel or students, for research or administrative use, requires a written loan agreement between the borrower and the owning department. The department is responsible for completing a Property Receipt Form.