Policy 5301 – Property Regulations and Responsibility

Revision Date: 7/2001

Responsible Office: Property Officer

Regulations pertaining to movable property owned by Education Organizations are mandated
by the Louisiana Administrative Code, Title 34, Government Contracts, Procurement
and Property Control: Part VII. Louisiana Tech University falls under the authority
of this code and will adhere to said regulations. A complete copy of these regulations
is available upon request in the Louisiana Tech Property Office.

Responsibility for safeguarding property owned by Louisiana Tech University lies with
All University employees. Under no circumstances is Louisiana Tech Property to be
used for personal gain nor removed from any University operating location except to
conduct University business. In pursuant to the aforementioned regulations and University
policy, delegation of responsibility will apply as follows:

  1. The University Property Manager will maintain accountability for all movable property
    within the agency. The University Property Office must be notified PRIOR to or immediately
    upon any change in status, location or condition of university property. All required
    reports and requests will be submitted to the Louisiana Property Assistance Agency
    for approval and administered as directed.
  2. University department heads are responsible for the equipment within their divisions
    until such time as approval has been received to dispose of same. All requests to
    move, transfer, or dispose of property must be reviewed by the department head and
    then submitted to the University Property Office for final approval. Responsibility
    also includes supervision and approval of the annual inventory certification process.
  3. Each university department head should appoint a departmental property custodian.
    The departmental custodian will be responsible for day to day inventory processed
    with the department and will serve as the contact person to the Property Office. The
    property custodian may not be a student.