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Purchase

Asset procurement must be made in compliance with applicable state statutes and regulations and in accordance with the established policies and procedures of procurement services. Freight, installation, and other charges incurred in securing the item(s) are included for assets with an acquisition cost of $10,00 or greater. Florida Statute 273 defines assets as equipment, fixtures and other tangible personal property of a non-consumable and non-expendable nature the value or cost of which is $10,000 or more and the normal expected life is one year or more. Capital assets recorded in workday may only be purchased through a purchase order. Procurement services is the only university department allowed to use a procurement card to purchase capital assets. When purchasing items that will add value to an existing asset, the asset tag number must be included on the requisition, the cost of the component will be added to the cost of the original asset in the inventory record. Replacement parts, repairs, and service contracts are not considered as additions to the asset. Please refer to the . 

Bequests, Gifts, Donations and Purchases from ³ÉÈËAVÊÓƵ Foundation

Donations and/or purchased items with a value of $10,000 or more, are reported to asset management for recording as fixed assets. The notification of acceptance of a bequest, gift, purchase or donation should have the description, the location, an estimated current market value, the name of the receiving department, and the name of the individual who accepted the donation or purchase. Donations and/or purchased computer technology with a value of less than $10,000 are not recorded on the property master file. Information Technology is responsible for tracking.

Fabrication

Equipment, or portion of which from materials and/or assets purchased from university funds, is owned by the university and must be reported to asset management for processing in accordance with university asset procedures. The asset custodian should maintain accurate records that reflect all the related expenditures including labor and component parts involved in the fabrication of the equipment. Once the fabrication is completed, the asset custodian should submit a memo to the asset management office that contains the description and the accumulated cost of the item as well as the Key code to which the property will be assigned, and the location. If the accumulated cost could not be reasonably determined, the estimated cost or fair market value of the fully assembled unit should be provided.

Loan, Rent, Lease

Assets acquired in a rental or lease agreement are not university property as it pertains to this policy as the university acquires the “the right to use" only and, in some instances, the right to purchase, but not title to the asset. Where such asset is not acquired through the normal activity of procurement services, the representative of the university taking physical possession must report the acquisitions to asset management and EH&S. EH&S is responsible for determining responsibility with regards to insurance, protection from loss or other accountability. A written lease agreement should be executed and signed by EH&S and a university official with contracting authority and a copy forwarded to the asset management office.

Survey request form

The online survey form is to be completed by the custodian to request release of accountability and to have the asset removed from the department for surplus pickup. Survey requests for technology assets are to be completed by the Information Technology Equipment Manager. Non-Technology assets are to be completed by the department. This form is also used to remove assets from the inventory that may be traded in, lost, missing or stolen. This form is required to avoid inventory reconciliation issues.

 To access the Survey request form, please follow steps one and two above.

1. Login to  with your ³ÉÈËAVÊÓƵ ID and password.
2. Select the tile that says "Banner Finance Self-Service".
3. Once in the Financial Information tab, at the bottom of the list, select "Property Survey".
4. Under Property Survey, select "New Property Survey Request". 

Technology assets may only be transferred by an Equipment IT Manager. Non-technology items may be transferred by department.

Property Transfer Request

This online form is to be completed when property control tagged assets are transferred between departments. The transfer of barcoded technology assets is handled by the Information Technology Equipment Manager. Non-Technology bar coded assets are handled by the department. This form is required to avoid inventory reconciliation issues.

To access the Property Transfer request form, please follow steps one and two above.

1. Login to  with your ³ÉÈËAVÊÓƵ ID and password.
2. Select the tile that says "Banner Finance Self-Service".
3. Once in the Financial Information tab, at the bottom of the list, select "Property Transfer".
4. Under Property Transfer, select "Create New Property Transfer Request".

Technology assets may only be transferred by an Equipment IT Manager. Non-technology items may be transferred by department.

If you need assistance with these forms please contact Jim Mousa at 620-2779, Jean Glasgow at 620-2736.

Additional training is available through the University Property and Records Management CPDT training class.