Property Security Policy
General University Policies Manual
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 State Department of Administrative Services requires that inventoriable equipment retain its original capital value on OSU records until such authorized disposition occurs.
Departments may dispose of OSU property (equipment and supplies) as follows:
- Trade the item in on new acquisitions through Purchasing with prior OSU Purchasing and Property Management approval.
- Sell or transfer the item from one department to another within the Oregon Department of Higher Education with prior Property Management approval.
- Sell or transfer the item to another Oregon state agency with prior Property Management approval.
- Salvage the item for parts, only after Property Management has approved disposal in this manner.
- Send the item to Property Management to be sold as surplus.
- Return the item to a federal or private funding agency at close of contract if so specified in the award document.
- Return the item to the owner if loaned or leased to OSU.
To dispose of property in some other manner, contact Property Management, 7-3102, and ask whether the proposed method is allowable under state law and institutional guidelines.
- Inventoriable Equipment. Equipment with an original purchase price of $5000 or more and a life expectancy of more than one year, which is not consumed in the normal course of business.
- Minor Equipment. Equipment with an acquisition cost of less than $5000 such as furniture, office equipment, tools, farm equipment, and scientific equipment.
- Capital Value. The original purchase price of the item or fair market value at the time of donation, loan, lease, or construction.
- Property. Any item owned, in the custody of, or leased by OSU or a department at OSU.
Oregon State University's academic environment requires freedom of movement and trust in faculty, staff, and students. The policy that follows is designed to support those goals by helping departments to protect their equipment and resources.
- Monitoring. All departments are required to place one or more responsible persons in charge of all minor equipment. This applies not only to the main campus but to the Hatfield Marine Science Center and all other OSU installations.
- Securing. To prevent theft, all equipment valued at $500 or more should be secured with a locking device or placed in a locked room or cabinet when not in use by an employee. Security Services will inspect or recommend locking devices or review and approve other locking methods.
- Identification. While all inventoriable equipment is now marked with a bar code inventory label, this does not protect the equipment from being stolen or assist in its recovery. Barcodes and serial numbers can easily be removed. Departments are advised to engrave all equipment with the letters "OSU" and the inventory number. Engravers are available at no cost from Public Safety/Security Services. Security officers can assist with engraving.
- Crime Prevention. Security Services can assist departments by conducting security surveys and offer recommendations for theft prevention methods. This service is provided at no cost to the requesting department.
Reporting Equipment Damage, Destruction, or Loss
The loss of any piece of inventoriable equipment must be reported immediately to the State Police (or local police if outside the Corvallis area), the Risk Management Office for insurance claim purposes, and the Property Management Office. Damage or destruction of property should be reported promptly to Property Management and the Risk Management Office. Damage or destruction of property by a criminal act should be reported promptly to the State Police or local police as well.
Replacement of Equipment
When stolen, damaged, or destroyed property has been previously secured in an approved manner, the department is eligible to seek replacement funds from the state Insurance Fund.
If a piece of movable equipment is stolen or lost and the department has not taken adequate measures to secure the equipment, the department will not be eligible for insurance and will be required to replace the equipment out of its own resources up to a maximum of $10,000. If the replacement cost is above the maximum, then insurance may pay for the amount above $10,000. The department should still contact the State Police, Risk Management Office, and Property Management immediately to assist in the recovery of stolen equipment.
Property may not simply be written off as of no value. Any item that is no longer useful to a department must be sent to Property Management for disposal. Property Management will remove the item from the department's inventory after disposal. The department is relieved of responsibility for the item once Property Management picks it up and signs for it. Inventoriable equipment recorded as missing/lost may be removed from inventory if it has not been found after two physical inventory cycles.