Sr. Plant Financial Analyst
Mail Stop 454
Learning Resource Center
When a department moves and assets are moved, it is recommended to use the university approved moving company, Stevens Worldwide Van Lines. To submit a move request, click here.
Equipment Disposal Procedure
Current University Policy states that only the Principal Administrative Officer can authorize the disposal of a university asset. Principal Administrative Officer includes dean, director, department chair, associate vice president, vice president, president, and business manager. In order to dispose of assets, whether through recycling or surplus property auction, or transfer an asset from one department to another, the correct documentation must be completed and submitted to the Office of Property Control in the Purchasing department. This documentation is simply the completion of a University of Toledo Equipment Management Form.
Only after this form has been properly completed and submitted to Property Control can assets be released to Campus Recycling for disposal or Surplus Property for auction. Once the documentation has been submitted to Property Control who, in turn, will initiate the process of having the item removed from the department's records and or space. All requests for disposals will be coordinated through the Property Control office either for Surplus, disposal or recycle.
Please note that the capitalization amount was recently raised to $5000. Only assets that had an original cost in excess of $5000 are tracked by Property Control but no matter what the cost all equipment for disposal forms must come through Property Control. If you believe the asset you wish to dispose of may be beneath this limit, you may call (or e-mail) Laura Hallauer at 419-530-1385 and she can verify.
In order to maintain accurate information on all University movable equipment, a complete
physical inventory is performed each year. Departmental inventories will only list assets valued at or above $5,000. It is recommended
that each department maintain a complete inventory listing, including make, model,
serial number, purchase order, etc. for all assets. This list will become useful as
a reference guide for items that are not valued at or above $5,000 but are stolen,
require maintenance contracts, a similar product is desired, etc. When it is time
to perform the physical inventory, a complete set of instructions is sent to each
department with the inventory listing. Three main areas of this reporting function
is responsible organization, location of the asset and asset condition.
For those items valued at or above $5,000 but not included on the inventory, departments are required to provide the Property Control Tag number and the purchase order number used to purchase the item. In most cases, assets not listed on an inventory sheet occur because they were purchased after the distribution date of the inventory listing. In order to add an asset to the departmental inventory, the Property Control tag number, the purchase order number and the location of the asset must be provided.