Equipment Management

Equipment Management jbarber32 Tue, 06/12/2012 - 15:19

Disposal of Property

Disposal of Property
Type of Policy
Administrative
jbarber32 Tue, 06/12/2012 - 15:21
Policy No
7.9
Last Revised
Review Date
Policy Owner
Property Control
Contact Name
Frederick Trotter
Contact Title
Director of Insurance & Assets
Contact Email
frederick.trotter@business.gatech.edu
Reason for Policy

This procedure explains how Georgia Tech equipment is retired by the Property Control and Logistics (Surplus).

Policy Statement

Non-Inventoried Supplies and Materials
All supplies, materials and equipment, regardless of value purchased through the Institute is the property of the state, federal government, or private grantor agency. As such, it cannot be sold, surplused, or transferred from Georgia Tech without the prior written approval of the appropriate federal sponsoring agency and/or the Institute Logistics (Surplus). Property that is considered valueless may be disposed of by cannibalization, recycling, or waste disposal provided an Affidavit of Disposal  is obtained by the Institute's Logistics (Surplus) prior to disposal.
Building maintenance, repair and operation items are not required to have an Affidavit of Disposal. They may be disposed of by cannibalization, recycling or waste disposal if, in the judgment of the installing mechanic and/or his superior, that the economic value is such that transporting and storage of the property is not practical.

Inventoried Equipment and Materials
Equipment, inventoried, with a value of $3,000 or more purchased through the Institute is the property of the state, federal government, or private grantor agency. As such, it cannot be sold, surplused, or transferred from Georgia Tech without the prior written approval of the appropriate federal sponsoring agency and/or the Institute Logistics (Surplus).

Non-Inventoried Equipment and Materials
Equipment, with a value less than $3,000 is the property of the state, federal government, or private grantor agency. As such, it cannot be sold, surplussed, or transferred from Georgia Tech without the prior written approval of the appropriate federal sponsoring agency and/or the Institute Logistics (Surplus). For non-inventoried equipment, Cost Centers can utilize the Non-Inventory Property Surplus Report form. A Non-Inventory Property Surplus Report Form may be obtained by downloading it from the following site:

http://www.procurement.gatech.edu/logistics  

Instructions for completion of the form:

All necessary information must be entered on the Non-Inventory Property Surplus Report Form. This will include:

  1. Your name and phone number or the designee’s name and phone number
  2. The department’s unit number and name
  3. Today’s date
  4. Completion of all applicable fields in the tabled area:
    • a) Quantity - like items can be combined (i.e. desks, chairs, printers and even computers), if they are non-inventoried items. Please make sure that you validate equipment that still have an asset tag (i.e. RFID tag with  black and white Georgia Tech Campanile logo) before grouping them with other equipment. If you inform Property Control that an asset is still showing “In Service” in your inventory and was a part of a previous surplus request in as a grouped item, Property Control will advise you to mark the asset missing because it does not have a proper audit trail for the asset record.
    • b) Description – give an adequate description for the item(s)
    • c) Model Number- optional field
    • d) Serial Number – optional field
    • e) Current location and room number for asset
    • f) State the condition of the asset(s)
  5. Submit a copy of the completed form to Logistics via email or fax as indicated on form.

Requirements for Data Security
To comply with Georgia Tech's data security policies
and the State of Georgia 's Electronic Scrap Disposal Policy. (See Chapter 14: Electronics Disposal in the Georgia Surplus Property Manual.)
Surplused computers (PCs/CPUs) will have their hard drives removed and shredded. Logistics (Surplus) will formulate and issue instructions on pick up procedures to comply with these requirements. (effective 07/01/06)

Exempt Property
Under the authority of OMB Circular A-110 "Uniform Administrative Requirements for Grants and Agreements With Institutions of Higher Education, Hospitals, and Other Non-Profit Organizations" and the Federal Grant and Cooperative Agreement Act (31 U.S.C. 6306), equipment purchased using federal grant/contract funds by Georgia Institute of Technology is considered to be "exempt" property. Based on these regulations, should a Federal awarding agency not establish conditions, title to exempt property upon acquisition vests with the Institute without further obligation to the Federal Government.
A-110 "Uniform Administrative Requirements for Grants and Agreements With Institutions of Higher Education, Hospitals, and Other Non-Profit Organizations"
OMB Circular ___ Definitions Section . .....
(n) Exempt property means tangible personal property acquired in whole or in part with Federal funds, where the Federal awarding agency has statutory authority to vest title in the recipient without further obligation to the Federal Government. An example of exempt property authority is contained in the Federal Grant and Cooperative Agreement Act (31 U.S.C. 6306), for property acquired under an award to conduct basic or applied research by a non-profit institution of higher education or non-profit organization whose principal purpose is conducting scientific research.
___ Property Standards Section .33 "Federally owned and exempt property" .....
(b) Exempt property
. When statutory authority exists, the Federal awarding agency has the option to vest title to property acquired with Federal funds in the recipient without further obligation to the Federal Government and under conditions the Federal awarding agency considers appropriate. Such property is "exempt property." Should a Federal awarding agency not establish conditions, title to exempt property upon acquisition shall vest in the recipient without further obligation to the Federal Government.
Federal Grant and Cooperative Agreement Act (31 U.S.C. 6306)
___§ 6306. Authority to vest title in tangible personal property for research

The head of an executive agency may vest title in tangible personal property in a nonprofit institution of higher education or in a nonprofit organization whose primary purpose is conducting scientific research—

  1. when the property is bought with amounts provided under a procurement contract, grant agreement, or cooperative agreement with the institution or organization to conduct basic or applied scientific research;
  2. when the head of the agency decides the vesting furthers the objectives of the agency;
  3. without further obligation to the United States Government; and
  4. under conditions the head of the agency considers appropriate.

 

Procedures

Workday is used to report surplus items to the Logistics (Surplus) Procurement & Business Services. A disposal is considered to be the removal of equipment from the custody and accountability of Georgia Tech.

If a Cost Center “disposes” of equipment by providing it for the use of another university or State Agency, this activity is considered to be a transfer, rather than a disposal, of the equipment. Please refer to "equipment transfer within georgia tech" for information regarding the transfer of equipment.

Policy History
Revision Date Author Description
11-2020 Property Control Editorial updates to align with Workday
08-2013 Property Control Update to policy

Equipment Transfer (within Georgia Tech)

Equipment Transfer (within Georgia Tech)
Type of Policy
Administrative
jbarber32 Thu, 06/14/2012 - 12:16
Policy No
7.2
Last Revised
Review Date
Policy Owner
Property Control
Contact Name
Frederick Trotter
Contact Title
Director of Insurance & Assets
Contact Email
frederick.trotter@business.gatech.edu
Reason for Policy

This section explains the procedures for updating the Asset Management System when equipment (asset) is transferred from one Institute department to another.

Policy Statement

Asset movement must be recorded in Workday when there is a permanent change in the asset location or physical custody (e.g., from one Cost Center to another). If the asset is temporarily loaned or relocated and the intention is to reclaim the item in the near future, the asset record need not be changed.

Equipment Transfer Request Procedures:
Moving ownership of an asset from one Cost Center to another is a Workday process. Information can be found here. The Cost Center with current ownership of the asset must contact the new Cost Center to obtain the new driver worktag. The Cost Center with current ownership of the asset can initiate the transfer.

The new Cost Center property coordinator will generate an approval for the transfer, and will need to assign the following items to the transferred asset: location, worker (custodian), and coordinating Cost Center.

Please Note:

  • The Asset Transfer Event is only available to assets in "In Service", "Issued" or "Registered Status."
  • This request process is not used for transfer of equipment to another State Agency or the disposal of equipment to the Department of Administrative Services' Surplus Division.
Policy History
Revision Date Author Description
11-2020 Property Control Updated to align with Workday
08-2013 Property Control Update to policy

Fabrication of Property

Fabrication of Property
Type of Policy
Administrative
jbarber32 Thu, 06/14/2012 - 12:35
Policy No
7.5
Last Revised
Review Date
Policy Owner
Property Control
Contact Name
Frederick Trotter
Contact Title
Director of Insurance & Assets
Contact Email
frederick.trotter@business.gatech.edu
Reason for Policy

This procedure outlines the accounting process for fabricated equipment.

Policy Terms

Fabricated Equipment

Fabricated equipment is defined as any piece of equipment with a value of $3,000 or greater, and with a useful life of at least  three years, which has been assembled from parts purchased with supply or non-inventory equipment, Spend Category (SC714127 Supplies and Materials – Fabricated Equipment.  This includes items purchased via a PCARD.

All Georgia Tech equipment that is assembled from parts which were not purchased under an equipment account code must be properly recorded as inventoried equipment (account range SC 743*** and value of $3,000 to $4,999.99) or capitalized equipment (account range SC 84**** and value exceeding $5,000.00) once completed.

Procedures

Instructions for completion of the Fabricated Form:

  1. Enter the scientific name of the equipment, if applicable. Enter the common name of the equipment. Enter which name should be placed in the description field of the inventory records. This is the name, which will appear on equipment reports to the department.
  2. Check if the title to the equipment belongs to the state or another agency.
  3. Enter the name and telephone number of the equipment custodian for the Cost Center.
  4. Enter the various cost components of the equipment. This includes materials purchased, external labor cost, transportation and any other costs involved. Enter the total cost.
  5. Check whether the above costs are for a new item of equipment or is added value (upgrade) to an existing item of equipment.
  6. Enter Georgia Tech CAE Tag number of existing equipment if item is an upgrade.
  7. If federal funds were involved in the construction of the equipment, the amount must be identified along with the sponsoring agency.
  8. Enter the name of the building, the room number and the department, which has physical custody of the equipment.
  9. The form must be signed and dated by the Cost Center Head or his/her designee. Also, enter the phone number of the Cost Center Head or designee.
  10. Forward completed form with supporting documentation and completed Cost Transfer Form to Property Control via ServiceNow. A Cost Transfer Form must be completed in order to correct the Spend Categories.
Policy History

Revision Date

Author

Description

11-2020

Property Control

Updated to align with Workday

06-2008 Property Control New Policy

General Information

General Information
Type of Policy
Administrative
jbarber32 Wed, 06/13/2012 - 17:05
Policy No
7.1
Last Revised
Review Date
Policy Owner
Property Control
Contact Name
Frederick Trotter
Contact Title
Director of Insurance & Assets
Contact Email
frederick.trotter@business.gatech.edu
Reason for Policy

This policy provides general information regarding the function and responsibilities for asset management at the Georgia Institute of Technology (Institute). Management of assets is administered by Property Control of the Procurement & Business Services unit.

Policy Statement

The State of Georgia General Statutes requires the Institute to be accountable for all equipment under its control. The Institute must also comply with the provisions of the Approval of Management, Budget Circulars A-21, Revised, SAS 112 (Federal Audit Guidelines) and A-110 to assure proper reimbursement of federally funded research and training projects.
The maintenance of a perpetual inventory of equipment is necessary to achieve correct financial reporting for the institution, to provide the basis for suitable insurance coverage, and to assist departments in accountability for their equipment.

Procedures

Threshold Requirements
In accordance with state & Board of Regents guidelines, the current threshold for which an inventory of an asset is maintained is $3000 with a life expectancy of one or more years. Items which do not meet the current threshold may be maintained on the inventory to meet contractual requirements, or to effect proper management of small and/or unique groups of movable personal property. The following items, are required to be inventory controlled without regard to the $3000 minimum cost:

  1. Books and periodicals (Total dollar value shall be capitalized each year)
  2. Firearms
  3. Vehicles

Property Control Department responsibilities:

  1. To be accountable for all equipment under its control as mandated by state and federal regulations. Property Coordinators must complete the “Asset Management for Property Coordinators” training. Click here to learn more.
  2. To provide internal control of capital assets, including proof of existence, ownership, location and proper valuation.
  3. To provide uniform procedures for furnishing information needed for effective analysis and control of capital expenditures.
  4. To provide a database of inventory information to meet equipment management/reporting needs of the Institute.

Unit Head Responsibilities
Colleges and Cost Centers are accountable for all equipment under their control. They have an important role in the maintenance of an accurate, up-to-date inventory system. The custodianship of property purchased by or assigned to a Cost Center is the responsibility of the Cost Center unit head. The responsibility includes ensuring that the physical security is maintained over all property; tagging items valued at $3000 or more; preparing property reports as required; and documenting and reporting all acquisitions, disposals and changes in the status of unit equipment. Fulfillment of these responsibilities on behalf of the Cost Center unit head may be delegated, but the ultimate responsibility remains with the Cost Center unit head. Adherence to the following guidelines helps to ensure that Cost Center inventory records are as accurate and complete as possible.

  1. Correct coding of purchase requisitions and purchase orders. Correct coding by Cost Centers during purchase requisition avoids unnecessary and time consuming corrections after receipt of the equipment.
  2. Proper coding of capital asset expenditures. Equipment purchases must be coded with a SC714400, SC743XXX, SC744XXX, SC841XXX, SC843XXX expenditure account code. Use of an account code other than these increases the possibility that the asset will be omitted from the inventory records.

Benefits of Inventory Systems
The perpetual inventory system provides the Institute with the following key benefits:

  1. Equipment control and accountability through a comprehensive campus-wide inventory system.
  2. Improved equipment utilization through control and identification of capital assets.
  3. Database to meet Institute, state and federal grant, and audit requirements.
  4. Database to meet requirements of proper risk management and provide basis for identifying equipment for the State's self-insurance program.
  5. Basis for management to project and budget future capital replacement requirements.

Procedures
The vast majority of capital asset acquisitions are generated by purchase requisition. Colleges and Cost Centers authorize equipment purchases by initiating purchase requisitions through Workday.

When the equipment is received, the Unit's Property Coordinator enters into the web page the pertinent physical asset information including the “Tag Number” in to Workday.

The asset accounting records are selected from the General Ledger based on the spend category. Property Control makes any corrections to an asset record to accurately reflect the description, cost and other pertinent accounting information. Assets, including Federal Surplust items, are recorded at actual cost.

A report of untagged items is extracted by Property Control. If a matching record is not found, Property Control will notify the Unit via e-mail. The Unit will have 5-days to enter the asset information into the Workday. The cycle is repeated again to match newly entered information.

Property Control is responsible for record retention and ensuring that all taggable assets are identified through internal controls.

Policy History
Revision Date Author Description
12/2020 Property Control Terminology alignment with Workday
08-2013 Property Control Update to policy

Gift of Property

Gift of Property
Type of Policy
Administrative
jbarber32 Thu, 06/14/2012 - 12:53
Policy No
7.8
Last Revised
Review Date
Policy Owner
Property Control
Contact Name
Frederick Trotter
Contact Title
Director of Insurance, Claims and Property Control
Contact Email
frederick.trotter@business.gatech.edu
Reason for Policy

This procedure outlines the accounting for gifts of equipment to Georgia Tech.

Policy Statement

Equipment received as a gift by Georgia Tech becomes the property of the Georgia Tech/Board of Regents. As such, it cannot be sold, surplussed, or transferred outside the Board of Regents, without the prior written approval of the Georgia Tech Surplus Property Manager (Logistics Unit).

Procedures

 

  1. Contact Gift Accounting in the Georgia Tech Office of Development to notify them of the proposed gift. They will guide you through the process to receive the gift. Be aware that they will want to know the nature of the gift, the appraised value of the gift, and any written conditions or provisions, which the donor is attaching to the gift.
  2. The Office of Development will notify the Property Control Department when Georgia Tech officially accepts the gift.
  3. Once officially accepted, Property Control will register the asset in Workday and enter the required information into the Asset Management System. Once completed, the Property Coodinator for the receiving Cost Center should tag the equipment.  for the receiving unit should tag the equipment item and enter the required information into the Asset Management System.

 

Policy History
Revision Date Author Description
11-2020 Insurance and Claims Editorial update for Workday
08-2016 Insurance and Claims Content Update
08-2013 Property Control Update to policy

 

 

Home or Off-campus Use of Property

Home or Off-campus Use of Property
Type of Policy
Administrative
jbarber32 Thu, 06/14/2012 - 12:27
Policy No
7.4
Last Revised
Review Date
Policy Owner
Property Control
Contact Name
Frederick Trotter
Contact Title
Dir. of Insurance & Assets
Contact Email
frederick.trotter@business.gatech.edu
Reason for Policy

This policy outlines the steps that should be followed to use equipment off campus at a remote site or an employee's home.

Policy Statement

Equipment owned/managed by the Institute may be used at a remote site or at home by Georgia Tech faculty/staff employees, provided the following criteria are met:

  1. The equipment is used for Georgia Tech business and in compliance with the Acceptable Use Policy.
  2. Use of the equipment off-campus or at home will not interfere with the operational needs of the college/department.
  3. Home use is approved by the appropriate Dean/Director/Cost Center Head.

 

Procedures

Individuals who receive college/Cost Center approval to temporarily remove equipment from the campus must complete an Equipment Loan Agreement Form.

Instructions for completion of the form:

  1. Print name of person using the equipment.
  2. Enter the location (address) where the equipment will be used.
  3. Enter the reason for using the equipment off-campus.
  4. Enter Georgia Tech tag number.
  5. Enter a short description of the asset, including serial number, model and replacement cost.
  6. Sign Form and enter telephone number.
  7. Enter Employee ID Number.
  8. Print Cost Center name and have Dean/Director/Cost Center Head sign and date form. The form should be retained in the unit for audit and insurance recovery purposes. Unit staff should contact Georgia Tech Insurance & Claims Mgt. (4-3483) to obtain information on how to insure the property off-campus.
  9. The Cost Center Head or his/her designee (Property Coordinator) must update Workday to indicate that the equipment item(s) with a Georgia Tech asset tag is now off-campus.
  10. When the equipment is returned to campus, the Cost Center Head or his/her designee (Property Coordinator) must update Workday to indicate that the equipment item(s) with a Georgia Tech asset tag is no longer off-campus.
Policy History
Revision Date Author Description
06-2021 Property Control Editorial Updates
11-2020 Property Control Editorial update for Workday alignment
08-2013 Property Control Update to policy

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Stolen Property

Stolen Property
Type of Policy
Administrative
jbarber32 Thu, 06/14/2012 - 12:50
Policy No
7.7
Last Revised
Review Date
Policy Owner
Property Control
Contact Name
Frederick Trotter
Contact Title
Dir. of Insurance & Assets
Contact Email
frederick.trotter@business.gatech.edu
Reason for Policy

This procedure outlines the steps to take to remove a stolen item from the Institute's inventory.

Policy Statement

All Georgia Tech equipment, which is stolen, must be reported to the campus police, Georgia Tech Insurance & Claims Management and the Property Control (for removal from the Asset Management System).

Procedures

If a Cost Center has an equipment theft, the property coordinator should contact the campus police at ext. 4-2500 to obtain a report of the incident prepared by an officer. Upon receipt of the GTPD incident report, the Cost Center Property Coordinator should notify Property Control via ServiceNow in order to retire the stolen equipment in Workday. No further action is required by the department.

The Incident Report filed with the police department must contain the following information:

  1. GA Tech asset tag number of the equipment.
  2. Serial number and model number of the equipment.
  3. Contact person and telephone number.
  4. Location (building name and room number of equipment).
Policy History
Revision Date Author Description
11-2020 Insurane and Claims Editorial update for Workday alignment
08-2016 Insurance and Claims Minor content revision
08-2013 Property Control Update to policy

 

 

Trade-in of Property

Trade-in of Property
Type of Policy
Administrative
jbarber32 Thu, 06/14/2012 - 12:40
Policy No
7.6
Last Revised
Review Date
Policy Owner
Property Control
Contact Name
Frederick Trotter
Contact Title
Dir. of Insurance & Assets
Contact Email
frederick.trotter@business.gatech.edu
Reason for Policy

This procedure outlines the process for accounting for equipment trade ins.

Policy Statement

All Georgia Tech equipment traded in must be deleted from Workday, and the replacement item must be valued correctly within the system. To accomplish this, follow the procedure outlined below.

Procedures

A Trade-In Authorization Request, must be completed and forwarded to Purchasing via ServiceNow prior to submitting a requisition when a piece of equipment is to be traded in. Purchasing will forward a copy of the completed form to Property Control for approval. Once approved, the Cost Center will attache the form to the Workday Requisition. No further action is required by the requesting department except to coordinate the transfer of the old item and the receipt of the new item.
Instructions for completion of the form:

  1. Enter the name of the Cost Center initiating the trade-in.
  2. Enter the Georgia Tech asset tag number of the equipment.
  3. Enter a short description of the equipment, the serial number and the model number.
  4. Enter the condition of the equipment.
  5. Enter the acquisition date and original cost of the equipment, if known.
  6. Enter the amount the vendor is deducting from the cost of the new equipment for the equipment traded in.
  7. Enter a short description of the equipment being purchased, and the price of the new equipment.
  8. Enter the Document Number and Account Number used for the purchase of the new equipment.
  9. The form must be signed and dated by the Cost Center Head or his/her designee.
  10. Send the completed form to Purchasing via ServiceNow.
Policy History
Revision Date Author Description
11-2020 Property Control Editorial updates to align with Workday
08-2013 Property Control Update to policy

Transfer Property (to entities outside GT)

Transfer Property (to entities outside GT)
Type of Policy
Administrative
jbarber32 Thu, 06/14/2012 - 12:22
Policy No
7.3
Last Revised
Review Date
Policy Owner
Property Control
Contact Name
Frederick Trotter
Contact Title
Director of Insurance & Assets
Contact Email
frederick.trotter@business.gatech.edu
Reason for Policy

This procedure explains how to transfer Georgia Tech equipment to other State Agencies.

Policy Statement

Equipment, which is the property of the state, cannot be given away to an individual under any circumstances. It may not be sold or transferred to an entity outside the Board of Regents for the University System of Georgia without the prior written approval of the State Surplus Property Officer.

Procedures

If a Cost Center has an item to transfer to another state agency, the property coordinator should follow the procedure listed below to complete the transfer.

  1. Submit a written request to  Property Control and Logistics (Surplus) via ServiceNow.
  2. The request should describe the equipment, list the tag number and model number and the location (building and room number) of the equipment.
  3. The request should state name of state agency to receive the equipment.
  4. The request must be approved by the Cost Center Head or his/her designee.

When a request is received that includes all the information noted above, the Manager of the Property Control will coordinate with others at the Institute and the state Department of Administrative Services (DOAS) to facilitate the transfer. Note that approval/contact is required with others at the Institute, DOAS, and the receiving state agency to complete this process. Some time will be required to get all the approvals needed. Once the proper form/authorizations are received from all parties, the transferring Cost Center will receive written authorization from Property Control to complete the transfer.

Policy History
Revision Date Author Description
November 2020 Insurance, Claims, Property Control Editorial updates for Workday
July 2016 Insurance, Claims, Property Control Minor edits
08-2013 Property Control Update to policy