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.
When loss of an asset is discovered, the item should be removed from inventory. If
theft is suspected, then please follow the procedure in 15.5.2. If theft is not suspected,
then the item can be removed from inventory with a request from the department head
as long as the item is not considered ‘new or relatively new’. Items considered ‘new
or relatively new’ are those that were purchased in the past five fiscal years (not
including the current fiscal year). New or relatively new items require a police
report for the item to be removed from inventory records. Should the removed items
be recovered and returned to the original custodian, the master record will be corrected
at that time.
New or relatively new equipment
Items purchased in the last five fiscal years excluding the current fiscal year.
For all assets all documentation should be retained for 5 years after disposition
of equipment. [0472-01-005]
For what reasons are inventory items deleted from my inventory?
The most common reasons for deleting items of inventory from the equipment holdings
of a department are:
- Items are reported stolen.
- Items are reported lost, most commonly by way of the annual inventory, and qualify
for deletion, i.e., are over five years old.
- Items are surplused to the University of Georgia surplus warehouse or to the State
Department of Administrative Services.
- Items are sold in lots through Surplus Property’s bid process.
In instances where the barcode is reported as missing, a new number is assigned; the
old inventory number is no longer used and is deleted from our database.