Title
University of North Carolina at Chapel Hill Finance Procedure 603.5 - Procedure for Transfer or Sale of Capital Equipment Between University Departments
Introduction
Purpose
This Procedure provides instructions to transfer Capitalized Equipment between departments of the University of North Carolina at Chapel Hill ("UNC-Chapel Hill" or "University").
Scope
This Procedure applies to all University employees.
Procedure
University departments must notify Asset Management any time the department sells or transfers Capitalized Equipment to another University department. Departments must submit a Finance Form 603.5.1f - Capital Equipment Relocation Form to Asset Management for each Capitalized Equipment item being transferred to other departments within the University.
Forms and Instructions
Complete a Finance Form 603.5.1f - Capital Equipment Relocation Form for each Capitalized Equipment item being transferred. Include the following information on each form:
- A description of the Capitalized Equipment,
- Model number,
- Serial number,
- UNC-Chapel Hill decal number, and
- The name of the department receiving the transfer.
Representatives from both the transferring and receiving departments must sign each form.
Submit the completed form(s) to Asset Management.
If a large group of Capitalized Equipment assets are being transferred, contact Asset Management to see if a report can be generated summarizing the group. If a detailed report is available, one Finance Form 603.5.1f - Capital Equipment Relocation Form will suffice for the transfer.
Reimbursement for Capitalized Equipment is processed with a campus journal entry.
Do not remove decals/bar codes when transferring Capitalized Equipment within the University.
Exceptions
UNC Hospitals, UNC System Office, WUNC-TV, and Student Activities are considered to be institutions separate from the University. Therefore, the transfer of Capitalized Equipment from University departments to these areas are handled as transfers to other institutions, not as internal transfers. See Finance Procedure 603.6 - Procedure for Transfer of Equipment to Other Institutions for more information.
Definitions
Related Requirements
External Regulations and Consequences
None
University Policies, Standards, and Procedures
Contact Information
Primary Contact