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Acquisition from transfer

    • 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
    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?).
    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]