603.5 - Procedure for Transfer or Sale of Capital Equipment Between University Departments

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

100% helpful - 1 review
Print Article

Details

Article ID: 131677
Created
Thu 4/8/21 9:14 PM
Modified
Mon 4/17/23 1:17 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
Date on which the next document review is due.
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
Date on which the most recent changes to this document were approved.
02/17/2017 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.
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