603.1 - Procedure for Tagging New Capital Equipment

Title

University of North Carolina at Chapel Hill Finance Procedure 603.1 - Procedure for Tagging New Capital Equipment

Introduction

Purpose

This Procedure provides the requirements for tagging new Capitalized Equipment.

Scope

This Procedure applies to all employees of the University of North Carolina at Chapel Hill ("UNC-Chapel Hill" or "University").

Procedure

University departments are responsible for tagging and accounting for their Capitalized Equipment items. Asset Management tracks the purchase of Capitalized Equipment items each month and will provide reports and forms for department representatives to facilitate this process.

An Asset Management coding sheet with a UNC-Chapel Hill decal/bar code label will be forwarded to the department two weeks following the payment for the asset. The decal should be affixed to the Capitalized Equipment item in a prominent place, preferably next to the manufacturer's name.

  1. Record the following information on the coding sheet:
    • Manufacturer,
    • Model,
    • Serial number,
    • Custodian name,
    • Room,
    • Building, and
    • Any additional relevant information.
  2. Email the Coding Sheet to Asset Management at Assets_Team@unc.edu within 30 calendar days of receiving the tag.

Capitalized Equipment that cannot be tagged because of shape, size, or special use will be assigned a decal number. This decal will be affixed to an Asset Management Coding Sheet, and a copy will be forwarded to the department for their files to be used as a reference for their annual physical inventory. In most cases, the description of the Capitalized Equipment item will include the notation "decal assigned."

Exceptions

None.

Definitions

Related Requirements

External Regulations and Consequences

  • UNC System Office - Capital Asset Standards

University Policies, Standards, and Procedures

Contact Information

Policy Contact

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Details

Article ID: 131673
Created
Thu 4/8/21 9:14 PM
Modified
Mon 4/17/23 1:16 PM
Responsible Unit
School, Department, or other organizational unit issuing this document.
Finance and Budget
Issuing Officer
Name of the document Issuing Officer. This is the individual whose organizational authority covers the policy scope and who is primarily responsible for the policy.
Issuing Officer Title
Title of the person who is primarily responsible for issuing this policy.
Director, eProcurement & Materials Management
Next Review
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04/17/2025 12:00 AM
Last Review
Date on which the most recent document review was completed.
04/17/2023 12:00 AM
Last Revised
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10/02/2015 12:00 AM
Effective Date
If the date on which this document became/becomes enforceable differs from the Origination or Last Revision, this attribute reflects the date on which it is/was enforcable.
10/02/2015 12:00 AM
Origination
Date on which the original version of this document was first made official.
08/01/2003 12:00 AM