Property Control Policies

Property Control Procedures

Property Control Policies

  1. Functions of Property Inventory Supervisor
    The Central Warehouse Property Inventory Supervisor (3735) is responsible for recording, reporting acquisitions, placing Valdosta State University (VSU) decal tags on items with a purchased price over $3,000, recording the internal movement of these items, recording dispositions of the items, and verifying and preparing Department Annual Inventory Reports.
  2. State of Georgia Laws
    Laws of the State of Georgia (5O O.C. Ga. Ann. 5-59, 16-160, and 161) requires the Department of Administrative Services (DOAS) to maintain an accurate University Central Inventory Report, of movable items with a value price being $3,000 or over owned by the State of Georgia. This inventory must be kept current and available for inspection. Changes must be documented in detail, kept current, filed and available for inspection.
  3. Georgia Board of Regents Policy
    The Board of Regents Business Procedures Manual (Section I, pages 47-48), refers to the need to comply with the laws through maintenance of a detailed Central Inventory Record at each University.
  4. Valdosta State University Policy
    The Property Inventory Supervisor of the Business Services Division is responsible for maintaining a perpetual Central Inventory Report from information provided on a continuing basis by the University Departments and the Departments Annual Inventory Reports. The Property Inventory Supervisor Records acquisitions, decals tagged items, records dispositions of items, verifies items and prepares Department Annual Inventory Reports.
  5. Inventory Coordinator Required for Each Department
    Individuals responsible for the Department, even if they are acting, (dean, director, or department head) are accountable to the President for all property assigned to the department(s). This responsibility is for inventoried, non-inventoried, and supply items. Responsibility cannot be delegated. The dean, director, or department head can appoint a current employee to be the Department's Inventory Coordinator. This does not release them from being accountable to the President for all property assigned to their department(s). The appointed Department Inventory Coordinator is responsible for the following:
    • Departmental procedures related to inventoried, non-inventoried items including warranties and repairs. The Inventory Coordinator will complete the initial registration with the manufacturer to validate warranties. They will initiate either warranty claims or repairs by contacting the company. When necessary under the repairs and outgoing shipping procedures, contact the Property Inventory Supervisor with a Service Request Form marked (Equipment Transport) to have the Delivery Personnel pick up the item so it can be shipped for repair or replacement.
    • Notification to the Property Inventory Supervisor (3735) of any acquisition, regardless of source of receipt (gifts, donations, or grants) of property received, disposal or transfer of items.
    • Completion of an Annual Physical Inventory for the department, and assisting the Property Inventory Supervisor or (his/her) representative with an annual physical audit of their department inventory.
    • Coordinating with Plant Operations Key Shop (5876/4860/7854) and their Key Control Program, when items require keys.
    • Informing Media Services of the acquisition of any video or audiovisual items, so parts for routine repairs of the items can be planned.
  6. Definition of Non-Inventoried Items
    Non-inventoried items meet the definition for inventoried items when the value is more than $3,000. These items are required to be on the Master Inventory Listing of the University in the Property Inventory Supervisor's Office. Departments are responsible for maintaining any necessary inventory information about these items.
  7. Exceptions to the Non-Inventoried Items Definition
    The following are items which are inventory controlled without regard to the $3,000 minimum cost:
    • Firearms
    • Original works of art.
    • A large quantity of furniture in a single public area or single room. The decision to add these items to the property record will be made individually. Generally, the cost of identical items on a purchase order for a single room should exceed $3,000. These items are not listed individually by the Property Inventory Supervisor. Items are added to the Department Inventory Records with one VSU Property Tag per room.
  8. Definition of Inventoried Items
    All items meeting this definition are to be placed on the University's Inventory Records regardless of source of receipt. Inventoried items are those items which.
    • Are non-consumable and expected to be in service for a minimum useful life of three years or more.
    • Do not fasten to a building.
    • Are not plumbed or permanently wired or attached to another piece of an existing item.
    • Are portable so it could be moved or used with another piece of equipment.
    • Are located externally from another piece of equipment in the event the item is moved.
    • Have an acquisition value of $3,000 or more.
  9. Items Received Regardless of Source of Receipt (Gifts, Donations, or Grant)
    Items received regardless of source of receipt become property of the University. These items are be assigned a value based on either the value established by the donor or at the estimated fair market value. The fair market value can be estimated from a recorded price of a similar item previously reported or other sources of information available locally. Department personnel should never declare a value for such items for the donor to use in tax related matters. When the estimated cost is $3,000 or more, the Department Inventory Coordinator should contact Chris Griggs, Property Inventory Supervisor cmgriggs@valdosta.edu or (229) 247-3735. They are to provide the appropriate documents to show the source, description of item, value of the item, model number and serial number. This information will be used to add the item to the Department's Inventory Record and VSU decal tgging of the item.
  10. Items Received from Surplus Warehouses
    Items received from Federal or State Agencies must be placed on the Inventory Records at the greater of either the actual cost on the issue invoice or at an estimated value, but only if either value is over $3,000.
  11. Surplus Property Policies
    See the Surplus Property Information Page for additional information about this policy. The laws of the State of Georgia require that all property, inventoried, non-inventoried, and supplies, be disposed through the Surplus Property System of the state. This does not include items that are normally considered to be trash or waste. The Property Inventory Supervisor works with DOAS and the University to meet the requirements of these laws and regulations.
  12. Off-Campus Use of State Property
    Property such as portable personal computers or similar items may be removed from a campus to the home of an employee or an off-campus site when the purpose is for business use only. Such use shall be tightly controlled and documented as to the location and use shall be available at all times. Board of Regents Policy Manual section 7.11.9
  13. Personal Equipment Used on Campus
    Personnel items will not be inventoried, tagged, or insured. The University cannot transport or repair items that are not owned by the University. The head of the department approving expenditures for these transactions becomes personally responsible for any costs incurred by the University. Responsibility for such equipment rests entirely on the owner. The University Insurance does not provide coverage for personally owned equipment.

Property Control Procedures

  1. The University Identification Number for Inventoried Items
    The Property Inventory Supervisor will assign a University Identification Number Tag to inventoried items at time of receipt at the Central Warehouse. If the item doesn't have a University Identification Number Tag upon delivery, the Department Inventory Coordinator is to contact the Property Inventory Supervisor (3735) upon delivery.
  2. Identification of Non-Inventoried Items
    If a department chooses they may engrave or mark items which are valued less than $3,000 for identification purposes. The University Police (7816) can advise departments about how to engrave or mark items which are valued less than $3,000.
  3. Departmental Inventory Requirements for Inventoried Items
    Department Inventory Coordinators will maintain a perpetual inventory of all inventoried items assigned to the department and/or office. For inventoried items the following information should be maintained:
    • Description of item including brand name, model number and serial number.
    • VSU property decal tag number.
    • Location of item (building, room, or off-campus site).
    • Transaction date (date received by department).
    • Purchase Order number.
  4. Departmental Inventory Requirements for Non-Inventoried Items
    The same information that is maintained for inventoried equipment, except for the VSU decal number, can be maintained at the discretion of the department for non-inventoried items. The Property Inventory Supervisor does not maintain an inventory of items valued less then $3,000.
  5. Warranties and Repairs
    The Department Inventory Coordinator will complete the initial registration with the manufacturer to validate warranties. They will initiate claims on warranty repairs by contacting the company to arrange for the return authorization. Contact the Central Warehouse with a Shipping Request Form to pick up the item and documentation of the item to be repaired or replaced under warranty.
  6. Acquisition of Property Received Regardless of Source of Receipt (Gifts, Donations, Surplus or Grant)
    The Inventory Coordinator is responsible for notifying the Property Inventory Supervisor of any acquisition of items received regardless of source of receipt through gifts, donations, surplus or grant from State or Federal facilities. If an item is from a Surplus Warehouse, the original of the State Transfer Form must be forwarded to the Property Inventory Supervisor. If an item is received from any other source, notification from the Department Inventory Coordinator to the Property Inventory Supervisor can be done by using a Service Request Form. NOTE: If any charges, including freight or transportation charges are to be billed to the University for the acquisition items received regardless of source of receipt (Gifts, Donations, Surplus or Grant) the items are to be requested in advance of any acquisition through the, "Purchase Request Procedures". On the Service Request Form mark "Other", then in parentheses write "Charged to Operating Expenses", estimated cost and charged to "Other Operating Expenses" category. The description of the item, estimated unit cost, what source of receipt (Gifts, Donations, Surplus or Grant), model number and serial number are to be entered in the description section of the form. NOTE: the online Property Acquisition Form cannot be used for computers, vehicles, or telephones. These items require special approval. All other items you will use a Property Acquisition Form to purchase items from State or Federal Surplus Property locations.
  7. Annual Inventory
    The dean, director, and department head, can appoint a current employee to be the Department's Inventory Coordinator. This does not release them from being accountable to the President for all property assigned to their department(s). The Department's Inventory Coordinator is responsible for conducting an annual inventory audit, with the Property Inventory Supervisor or (his/her) representative. The Property Inventory Supervisor will provide a listing of the items charged to the department that have a value of $3,000 or more. Items are to be verified by the listing and any discrepancies will be noted on the original inventory listing. The listing will be signed by the Dean, Director or Department Head, the Department Inventory Coordinator and the Central Warehouse Personnel conducting the audit acknowledging any missing items or discrepancies upon completion of the audit. After completing the reconciliation, Property Control prepares and itemized Departmental Inventory Report showing the total dollar amount of the gain or loss in inventory.
  8. Items Stolen, Maliciously Damaged, or Not Located
    The Property Inventory Supervisor (3735) and the University Police (7816) are to be notified by the department of any inventoried items stolen or damaged by malicious acts at the time the fact is known. The Property Inventory Supervisor will NOT inform Public Safety of any missing items after the annual audit with a department. If an item is not located during the next two annual inventories, it will be removed from the inventory records.
  9. Surplus Property
    See the Surplus Property Information Page for additional information about this policy.
  10. Excess Items
    Excess Items are accumulated items which are surplus to the needs of the University departments. The Property Inventory Supervisor will screen these items to determine condition and disposition, in order that the University may be relieved of accountability for these items. The University must dispose of the items through the DOAS State Property Office. Departments having an item which is obsolete, excess to their needs, unsafe, unserviceable for further use, or not usable in it's present condition, may report this item to the Property Inventory Supervisor by using the Service Request Form and arrange for transfer from the department. Departments having unusable supplies should dispose of them as trash. Items will be classified by the Property Inventory Supervisor and disposed of as indicated in the following table:

     

    Classification of item Action Taken by Property Control
    Beyond economical repair Destroy and sell for scrap or transfer to State Surplus
    Usable without repair Store and made available to departments
    Usable with repair Store if space is available; made available to departments
    Excess to needs of University Transfer to another University in the System or to State Surplus

     

    The Property Inventory Supervisor will obtain six quotes and attempt to sell the items for the University. All items must be processed through the Surplus Property System of DOAS. Revenue from these surplus sales is entered into the general revenue account of the University. Excess Property will be stored as long as space is available. Departments may arrange for the transfer of items to their department by contacting the Property Inventory Supervisor. A Property Transfer Request is required for transfer of inventoried items. This form will be prepared by the Property Inventory Supervisor.
  11. Transfer of Inventory Items Between Departments
    The Property Inventory Supervisor is to be notified when inventoried items are transferred to another department or building. This will allow the University to maintain adequate records for property insurance and accountability for items.
  12. Items Traded-in
    Please see the Purchasing Procedures for detailed information about the trade of any items.