Title
University of North Carolina at Chapel Hill Finance Procedure 603.4 - Procedure for Reporting University Capital Equipment Movement On and Off Campus
Introduction
Purpose
State regulations require the University of North Carolina at Chapel Hill ("UNC-Chapel Hill" or "University") to take control on authorizing Capital Equipment to be taken off Campus.
Scope
This Procedure applies to all employees of the University.
Procedure
Equipment owned by UNC-Chapel Hill must remain on campus. On-campus movement of equipment requires departmental authorizations and completion of a Finance Form 603.5.1f - Capital Equipment Relocation Form to Asset Management.
Off-campus movements require departmental letters of justification and completion of a Finance Form 603.4.1f - Off-Campus Use Agreement and Authorization to be sent to Asset Management.
Departments bear the responsibility for the location of their equipment inventory. Departments must keep records of equipment on campus that is not in its assigned location. Department heads must be informed and grant approval for the on-campus movement of an asset.
If equipment is moved from its assigned location for a period of three months or longer, a Finance Form 603.5.1f - Capital Equipment Relocation Form must be sent to Asset Management to record the new on-campus location of the asset. If off-campus usage of equipment is necessary, a Finance Form 603.4.1f - Off-Campus Use Agreement and Authorization together with a letter of justification are required to be sent to Asset Management. Both documents should bear the signature of the user and the user's supervisor.
Copies of all forms must be retained in the department files. The Finance Form 603.4.1f - Off- Campus Use Agreement and Authorization covers a period of one year. Longer off-campus usage requires annual renewal of the Off-Campus Use Agreement. A renewed letter of justification is not required if the purpose for the off-campus usage is the same.
When equipment is returned from off-campus usage, submit a new Finance Form 603.5.1f - Capital Equipment Relocation Form reporting the return and new location of the equipment for purposes of the annual physical inventory inspection.
The Off-Campus Use Agreement may be used to document off-campus usage of non-capitalized equipment (equipment costing less than $5,000). These completed Off-Campus Use Agreement forms must be kept by the department. It is not necessary to notify Asset Management or send Asset Management copies of these forms relating to non-capitalized equipment.
Exceptions
None.
Related Requirements
University Policies, Standards, and Procedures
Contact Information
Primary Contact
History
Revised:
- 3/16/2023, 7/13/2009, 12/14/2007