603.5 - University of North Carolina at Chapel Hill Procedure on Transfer or Sale of Equipment Between University Departments

Procedure

Asset Management is notified any time that Capital Equipment is sold or transferred to another University department. Departments are to submit a Finance Form 603.5.1f - Capital Equipment Relocation Form to Asset Management for the items being transferred to other departments 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 equipment from University departments to these areas are handled as transfers to other institutions, not as internal transfers.

Forms and Instructions

Complete and submit to Asset Management a Finance Form 603.5.1f - Capital Equipment Relocation Form for each capitalized item being transferred. Include a description of the equipment and model number, serial number and UNC decal number. Also include the name of the department receiving the transfer. Signatures on the form are necessary for both transferring and receiving departments.

If a large group of 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 Capital Equipment Relocation Form will suffice for the transfer.

Reimbursement for equipment is processed with a campus journal entry.

Do not remove decals/bar codes when transferring equipment internally.

Related Requirements

External Regulations and Consequences

None

University Policies, Standards, and Procedures

Contact Information

Primary Contact

  • Director of Procurement Services Operations
    • Phone: 919-962-6267
    • Email: hwangcpa@email.unc.edu

History

Revised:

  • February 17, 2017: Removed paragraph that referenced Asset Management Trading Post, which had somehow been reinstated to this policy.
  • September 2, 2016: Removed reference to the Asset Management Trading Post
  • October 1, 2014: Updated reimbursement details.
  • September 24, 2012: Incorporated Asset Management Trading Post information.
  • July 17, 2009
  • December 14, 2007
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Details

Article ID: 131677
Created
Thu 4/8/21 9:14 PM
Modified
Mon 7/12/21 3:51 PM
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.
02/17/2017 12:00 AM
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 Mgmt
Last Review
Date on which the most recent document review was completed.
02/17/2017 12:00 AM
Last Revised
Date on which the most recent changes to this document were approved.
02/17/2017 12:00 AM
Origination
Date on which the original version of this document was first made official.
07/01/1999 12:00 AM
Responsible Unit
School, Department, or other organizational unit issuing this document.
F&O-Finance