208: Transfer

Property Management Policy & Procedure Manual
Section 200: Equipment Acquisition
Effective: 07/01/1996
Revised: 05/27/2003

Purpose

To identify and record equipment transferred from other institutions and agencies to OSU.

Policy

Individuals must notify Property Management of equipment transfers from another institution or agency to OSU.  Unless otherwise stated, title of equipment vests with the University at the time of the transfer.

Equipment transferring to OSU from other institutions with new faculty should be reviewed and documented IMMEDIATELY upon receipt.  This type of property becomes state property (not personal property of the principal investigator) and must be added to the inventory in order to be tracked and insured.

Equipment that is accountable to a sponsor award that is transferring to OSU must be documented immediately, including information on the index and sponsor ID assigned by the Office of Post Award Administration.

Procedure

Transfer of Equipment Into OSU

Responsible Party Action
Department
  1. Request the following written information from the transferring institution: current market value, age, description, serial number, funding source, condition and federal accountability.
  2. Submit Fixed Asset Data Entry form to Property Management along with any backup documentation from the transferring institution or agency within 30 days of receipt.

Note: If the transferring institution cannot provide the market value, a certified appraiser must appraise the equipment.  Contact Property Management for assistance with appraisals.

Property Management
  1. Create asset record in FIS Banner and sends bar code tag to department.

Transfer of Grant or Contract Accountable Equipment to OSU

Responsible Party Action
Department
  1. Request the following written information from the transferring institution: current market value, age, description, serial number, funding source, condition and federal accountability.
  2. Submit Fixed Asset Data Entry form to Property Management along with any backup documentation from the transferring institution or agency within 30 days of receipt, including information on the award designation to OSU.

Note: If the transferring institution cannot provide the market value, a certified appraiser must appraise the equipment. Contact Property Management for assistance with appraisals.

Property Management
  1. Create asset record in FIS Banner and sends bar code tag to department.