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Acquisition from purchase

    • Last Updated: 05/27/2016
    • Effective Date:

    Policy Statement
    The University of Georgia is required by the Board of Regents of the University System of Georgia and state and federal regulations to inventory and track assets.  Assets are acquired from a variety of sources.
    Reason for policy
    This policy is to show how to track property owned by or in the possession of UGA and to comply with state and federal guidelines.
    Procedures
    Items acquired through the University Procurement Office are routinely reported to Property Control as part of the payment procedure and do not require any additional reporting by the custodian of the equipment for purposes of establishing the inventory records.  If Property Control personnel have not tagged the newly acquired item within a reasonable time period, the custodian should contact the Property Control office with the purchase order number to verify payment has been made and the correct object code was assigned to the purchase.
    Additional contacts
    Property Control Office, 706-542-4390, property@uga.edu
    Responsibilities

    Responsible University Senior Administrator:Vice President for Finance & Administration

    Responsible University Administrator: Associate Vice President & Controller

    Policy Owner:UGA Property Control

    Policy Contact:Craig Mathews

    Phone Number: 706-542-4390

    Record Retention
    For all assets all documentation should be retained for 5 years after disposition of equipment. [0472-01-005]
    FAQs

    Can I use my P-Card to purchase a printer or computer?

    The P-Card cannot be used to purchase inventoried items, but if the item you are purchasing falls below current inventory thresholds it's possible that you might be able to use your Pcard to acquire the item. Please contact the Procurement Office for more information on Pcard purchases.