After the Buy
After you purchase equipment using Unversity funds, it usally becomes an asset belonging to the University; as a result there are guidelines that you need to be aware of to ensure proper management and eventual disposal (where applicable) of that asset.
Equipment having the following characteristics is included in the equipment inventory:
- An expected useful life of more than two years;
- An original cost of $20,000 or more; and
- An identity that does not change with use.
When it has been determined an item will be added to the inventory, the department responsible may be asked for the location of the equipment and classification for correct coding. When the equipment is no longer operational or when a change in technology requires the equipment to be updated, it is considered obsolete. Once it is obsolete please complete the Asset Disposal Requisition Form and forward it to email@example.com or complete form in Mustang Market.
Managing the inventory requires that continuous adjustments be made to the records for equipment sales, transfers, write-offs and data changes.
For any deletions or transfers of Equipment, an Asset Disposal Requisition is required. Send the form to Procurement Services Support Services Building Suite 6100 or to firstname.lastname@example.org
Occasionally, equipment may be obtained on loan or as a gift. In these cases, even though there may be no costs involved, Procurement Services must be informed before the equipment is received.
For equipment on loan, a signed statement from the Supplier must be submitted to the Director of Procurement Services indicating:
- The period of time the equipment will be loaned - usually not less than one (1) academic year;
- The University has no legal liability for loss or damage to the equipment;
- Who will pay all transportation, installation, removal and site preparation costs. (This should normally be the responsibility of the Supplier);
- Whether any electrical equipment has been approved accordance with Electrical Safety Code. If not who is responsible fo rthe cost of any required inspection and modifications;
- Whether preventative maintenance will or will not be paid for by the Supplier; and
- That acceptance and use of equipment does not imply endorsement.
For equipment received as a gift, a Purchase Requisition must be processed indicating:
- there is no charge for the equipment;
- an estimated value for insurance, inventory and, if imported, Customs' purposes;
- who is responsible for transportation, installation and site preparation costs;
- who is responsible for any applicable taxes and duty;
- whether any electrical equipment has been approved in accordance with the Electrical Safety Code; if not approved, who is responsible for the cost of any required inspection or modification; and
- acceptance of the equipment does not imply endorsement.
Note 1: For imported equipment, whether donated or loaned, the Customs and Traffic Officer should be consulted prior to shipment.
Note 2: Procurement Services Equipment Inventory Clerk will send a copy of the purchase order to Advancement Services who will:
- ensure the gift is acknowledged; and
- include the asset(s) in its listing of gifts which is sent annually to the Capital and Special Funds Section of the Department of Finance.
Note 3: Procurement Services Equipment Inventory Clerk will determine if the donated item should be entered into the inventory.
When equipment is located off-campus, it is assumed to be under the care and control of the person using it, who takes full responsibility for any loss or damage. The only exception to this policy is when equipment is being used in connection with University-sponsored off-campus activities such as a field trip. In these circumstances, University insurance policies and procedures will apply.
When equipment is to be taken off-campus for use as specified above, the Authorization for Off-Campus Use of Equipment Form must be completed and authorized.
The signed form will be retained by the Approver until the equipment is returned to campus. The Approver (see definition below) must have appropriate purchasing authority within the department authorizing the off-campus use. A copy of the completed form is then sent to Procurement Services at email@example.com
The approver refers to someone who is a:
- Dean of Faculty
- Department Chair
- Budget Unit head (Corporate departments only)
- Principal investigator (when equipment is purchased on a grant)
When disposing of an Asset please consider the following criteria;
Tagged University assets with an estimated disposed fair market value under $2,500 or that are greater than 7 years old, may be disposed of by the individual user departments.
Initiating an Asset Disposal Requisition
Asset Disposal Requisition is used for items that;
- have a Western Asset tag
- to be sold on Gov Deals (i.e. desks, chairs, garbage pails etc)
After surplus material has been referred to Procurement Services for disposal, a judgment must be made as to the best method of obtaining maximum value for the item.
Methods of Disposal
- Inter-department sale
- Gov Deals
Procurement Services can assist departments in determining the best channels for disposal.
NOTE: Please reference WTS’ Disposal Guidelines and Best Practices when disposing of an electronic device.
Inter-department Sale – Preferred if Western can continue to use its own assets by giving them to other departments for use.
Gov Deals – website for items that are for sale. To post items on Gov Deals the following criteria is required;
- Pictures from all angles of the item
- Details of the item will help to sell your item faster
- Model or year
- Contact Person with complete contact information
Donation – if no internal buyers can be found, donations are a great way to give back to the community. Procurement Services can assist you in finding charities to donate your items.