Acquisition from transfer
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.
Transferred items might originate from other USG institutions, institutions from other
states, etc. The department receiving the items must report to Property Control the
information necessary to inventory the transferred items. Information would include,
but not be limited to, ownership data, manufacturer, model number, original acquisition
cost or fair market value, serial number, departmental account number, acquisition
date, equipment location (building name/number and room number), individual in possession
of the item(s), and ownership data (is the item titled to a grant or other entity
or is title being transferred to UGA?).
For all assets all documentation should be retained for 5 years after disposition
of equipment. [0472-01-005