001: Introduction

Property Management Policy & Procedure Manual
Section 000: Introductory Material
Effective: 07/01/1996
Revised: 05/15/2014


According to state statute (ORS 351.210), all property, equipment, and supplies acquired by Oregon State University remain the responsibility of the University until disposed of in an authorized manner.

The Property Management Policy and Procedure Manual (PRO) provides information necessary for managing the capital assets of Oregon State University from acquisition to disposal.

Property Management within Business Affairs  is responsible to:

  • Administer the OSU Fixed Assets inventory system;  
  • Maintain capital asset records for OSU;
  • Ensure that equipment accounting transactions are done properly to accurately update the fixed asset records;
  • Perform audits and approveall changes to the fixed asset database;
  • Assign unique inventory numbers and tags for new fixed assets;
  • Coordinate and review unit physical inventories to ensure compliance with University, state, and sponsoring organization requirements;
  • Assist University faculty and staff with equipment procedures and inventory control;
  • Produce reports for units, administration, and sponsoring organizations as needed;
  • Assist with acquisition and recording of federal excess and federal surplus property;
  • Develop accountability procedures to meet federal, state, sponsor, donor, and lender requirements;
  • Prepare forms for relief of accountability of federal property due to loss, damage or destruction;
  • Dispose of surplus property through the Surplus Property Program and authorize disposal of other property as appropriate

All departments are required to place one or more responsible persons in charge of all equipment whether capitalized or minor. This applies to the main campus in Corvallis, the Hatfield Marine Science Center in Newport, all Agriculture Experiment Stations, all Extension Offices, and all other OSU installations.

In the event of an inconsistency or conflict, applicable law and the Oregon State University Board of Trustees’ policies supersede University policies and University policies supersede college, department, or lower unit bylaws, policies, or guidelines.

The University reserves the right to add, amend, or revoke any of the contained rules, policies, regulations, and instructions or incorporate additional ones, with or without notice, as circumstances or the good of the University community may require.

A printout of this manual and each change to this manual is created from the original text source for the online version and retained permanently as an official record at University Archives.  Printouts of all revisions to online P&P manuals are similarly available.