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501(c)3 charitable organizations

    • 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 moveable assets.  Assets are acquired from a variety of sources and must be used for institutional purposes and they must be disposed of in accordance to state guidelines. The Department of Administrative Services defines surplus property as “any item that is non-consumable and non-expendable that is no longer needed”.  These items may or may not be inventoried by the University of Georgia.  There are several options for disposing of state property.
    Reason for policy

    Ensure all UGA assets are disposed of properly.

    Procedures
    UGA is allowed to donate surplus to local charitable (IRS 501(c)3) organizations in lieu of adding to and paying for waste disposal.  This option can be used for equipment that has scrap value but is not physically destroyed on site.
    Forms/Instructions

    All Property Control Forms can be found at the following site: http://www.busfin.uga.edu/forms/

    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]