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.

Reason for Policy

Board of Regents Policy Manual Section 7.11.9

“USG property such as portable personal computers or similar items may be removed from an institution to the home of an employee or an off-campus site when the purpose is for business only. Such use shall be tightly controlled, and documentation as to the location and use shall be available at all times (BoR Minutes, 1990-91, pp. 378-79).”

Procedures

To record and document state owned inventoried equipment housed or used at non-UGA locations (in a building not owned, leased, rented, etc. by UGA), a departmental inventory representative should login to the UGA Financial Management system and indicate the items which are being used at an off-site or off campus locations. The full name of the individual using or responsible for the equipment should be recorded in the Custodian field.

1. Navigate to Basic Add (Main Menu>Asset Management>Asset Transactions>Owned Assets>Basic Add
2. Use the search options on the Asset Basic Information screen to find the asset being used off- site
3. Click on the Manufacture/License/Custodian tab
4. In the Custodian Information box, Click the + sign to add a new custodial record
5. Enter the name of the custodian by either typing in the first and last name or by searching for the employee’s Empl ID.
6. Click the box next to “This Asset is Offsite”
7. Click Save

The Comment section of the asset record under the Location/Comments/Attributes tab can be utilized to enter specific details regarding the off-site use (off site location, purpose, etc).

During the physical inventory, departments should review the off-site status of equipment by using either the UGA_AM_SEARCHBYDEPT or UGA_AM_OFFSITE_BY_DEPT queries. Departments are responsible for ensuring the off-site status is up to date.

Departments should develop internal procedures to safeguard off-site equipment that is not required to be carried on inventory.

Departments are responsible for informing faculty and staff that state owned equipment (inventoried and non-inventoried) is property of the state and must be returned to the University when no longer needed, obsolete, no longer functional or when the employee is no longer working for or with the University. Equipment should not be disposed of by the employee in any manner. State owned property, whether inventoried or not, cannot be 'gifted' as compensation for work performed nor can it be used as a 'retirement' gift.

UGA owned equipment (even if recorded as off-site) should not be loaned to (or used exclusively by) outside entities (individuals, institutions, business, etc) without consulting with Asset Management. A memo of understanding or loan agreement will be required.

Inventoried equipment recorded as off-site in the UGA Financial Management system carries all-risk insurance coverage which will be charged to your department once per year. For questions about the rates please call Insurance and Claims at 706-425-3250.

Non-inventoried equipment must be reported directly to Insurance and Claims if there is a need for all- risk insurance coverage.

Additional Contacts

Asset Management, 706-542-4390, property@uga.edu

Record Retention

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

Responsible University Senior Administrator: Vice President for Finance & Administration

Responsible University Administrator: Associate Vice President for Finance Division

Policy Owner: Asset Management

Policy Contact: Craig Mathews

Phone Number: 706-542-4390