Policy 5302 - General Procedures
Revision Date: 3/13/2013
Responsible Office: Property Officer
PROPERTY TO BE INVENTORIED
Movable property over $1,000.00 - All items of movable property having an acquisition
cost or appraised value of one thousand dollars ($1,000.00) or more must be tagged
with a State approved identification tag and placed on inventory.
Procedures for tagging items $1,000.00 and over will include:
Tagging items upon arrival in the Louisiana Tech Receiving Depot as feasible; OR
Tagging items in the department by a representative from the property office.
Parts, components, accessories, etc. that will enhance, enlarge or create a piece
of equipment must be accounted for as follows:
- Enhancement parts having an acquisition cost of over one thousand dollars ($1,000.00), will be added to the value of the tagged item in which it will be installed.
- Components, regardless of the cost, that will be used to create a new piece of equipment will be considered under this regulation, providing the total value of the newly created equipment is over one thousand dollars ($1,000.00).
- Livestock acquired for breeding, dairy and/or experimental purposes are classified as property and must be recorded on the inventory regardless of the value per animal. During each annual inventory process, livestock will be reappraised and the fair market value adjusted.
- Other property having an acquisition cost of less than one thousand ($1,000.00) may be tagged at the discretion of individual department heads, property custodians, or the university property manager.
The correct budget/object code must be used when processing payments for movable equipment purchases.
|7240||Building, grounds, general plant|
|7340||Edu, rec. & cultural (noncomputer)|
|7380||Boats and aircraft|
|4070||Equipment not Capitalized|
|4073||Computer under $1,000.00|
Repair parts do not fall under property regulations and should be charged to the correct repair/maintenance budget object code.
|7840||Non-computers or automobiles|
|7850||Car, boat, and plane|
- TAGGING PROCEDURES
State property regulations require that qualified equipment items be tagged AND all inventory information forwarded to the Louisiana Property Assistance Agency within 60 DAYS of receipt. If an item cannot have a State of Louisiana identification tag affixed to it, the ID number will be written on the item in indelible ink or paint, or inscribed with an engraving tool. The property office will send a representative to tag new equipment upon arrival in each department OR at the Receiving Depot as feasible.
- New Property – Notify the property office immediately upon arrival of new equipment
in your department. The following information is needed:
- purchase order or requisition number
- location of equipment and contact person/phone
- Donated Equipment – Notify the property office immediately upon arrival of donated
equipment. Authorization for acceptance may be required from the University Donation
Committee. The following information is required:
- A completed “Donated Equipment Certification” form.
- An appraisal from the donor stating the fair market value or a copy of the invoice if equipment is new.
- Location of equipment and contact person/phone.
Agency Manufactured equipment – Movable property which is manufactured by Louisiana
Tech will be tagged and placed on inventory. Notify the property office immediately
upon completion of agency built equipment. (Examples include: computer equipment assembled
by Technical Service, desk or shelf units produced by Physical Plant personnel). The
following information is required:
- All documentation related to the equipment cost – purchase order numbers, requisition/interdepartmental numbers, etc.
- Installing technician
- Location of equipment and contact person/phone.
- New Property – Notify the property office immediately upon arrival of new equipment in your department. The following information is needed:
- EQUIPMENT RELOCATION
The Property Office AND the appropriate departmental property custodian must be notified before equipment is moved from its’ designated location. Failure to do so increases the number of missing equipment items each year and prolongs the annual inventory process.
- Equipment transfers between university departments or relocations within departments require a completed “Equipment Transfer Request” form. The form must include authorized signatures of the requesting and receiving parties and responsible department heads.
- In accordance with state and university property regulations, equipment may not be used for personal gain or removed from any university operating location except to conduct university business.
- Removing equipment from the Louisiana Tech campus is prohibited except for the following:
- Repairs to equipment – submit a completed “Equipment Repair/Exchange” form to the property office
- Equipment being exchanged or replaced because of defect or poor quality – Remove the inventory tag and submit a completed “Equipment Repair/Exchange” form to the property office. A replacement tag will be assigned to the exchanged equipment.
- Tagged equipment used in connection with university events held off campus – Complete and submit to the property office a “Request For Off-Campus Use” form PRIOR to removing the equipment.
- Tagged equipment used in ongoing research or university related projects (example: laptop computers). A properly completed “Request For Off-Campus Use” must be on file in the Property Office. This authorization must be renewed each academic year.
- Non-tagged equipment (valued under $1,000.00) - Each university department will be responsible for tracking non-tagged equipment items removed from campus. Approval from the department head or dean must be obtained prior to removing items from campus. Departmental property custodians will be required to maintain a list of this equipment. The list will be subject to review by the property office during the annual inventory process.
- SURPLUS EQUIPMENT
Equipment considered surplus by a university department should be reported to the property office. This includes tagged and untagged items. The property office will make arrangements to have the equipment picked up and determine the proper means of disposal as instructed by LPAA. NEVER throw equipment away without direct authorization from the property office.
- Surplus/functional equipment – Complete and submit to the property office an “Equipment Disposition Request” form. The Property office will arrange to have the equipment removed from your area and determine if the equipment can be used by other university departments or will submit a request for pick up to State Property Control.
- Dismantle for Parts – (NOTE: PRIOR APPROVAL IS REQUIRED) Provisions are available that allow some pieces of equipment to be dismantled for parts. This approval can only be granted through State Property Control. Submit a completed “Equipment Disposition Request” form and the property office will notify your department when approval is received.
- SCRAP – Submit a completed “Equipment Disposition Request” form to the property office. The equipment will be removed from your area and disposed of as instructed by LPAA.
The property office maintains a small selection of surplus equipment for use by university departments. Typical items on hand include: office desks, desk and side chairs, filing cabinets, tables, classroom desks, etc. Call 257-2742 for an appointment to view these items.