PROPERTY FAQS


Question:  The cost of the item is listed as $xxx and I know that the item is not worth that much, so why does my inventory report show that amount of money?
Answer:  The cost of an item does not decrease as age increases.  The University records depreciation as a financial transaction that does not decrease the original cost of any specific item.

Question: An item cost less than $1,000 and is not on my inventory.  It's not any good; can I just throw it in the trash?
Answer:  No.  You are still responsible for the item.  In order to dispose of the item you must submit a Property Survey Request form.

Question:  I need to get rid of an old desk. It’s not worth $1.  Do I really need to complete a survey request form?
Answer:  Yes, if UWF owns it, UWF wants to know that you are getting rid of it.

Question:  My laptop was stolen from my office/lab/restaurant booth!  What do I do?
Answer
For an off-campus-theft: Contact the local police.
For an on-campus theft:  Contact the University Police.
In either case you will need a copy of the police report to accompany the Missing/Stolen Report to be submitted to the Property Section.

Question:  Where do I affix the UWF barcode tag?
Answer:  As stated in section II of the Property manual, “tags should be uniformly located on similar types of property and should be in an easily accessible location for scanning purposes.”  For further clarification contact the Property Section.

Question:  Oops! I affixed the wrong tag to an asset. What do I do?
Answer:  Contact the Property Section immediately. The Property Coordinator will reissue a replacement tag.

Question:  The equipment I use was purchased with my grant/contract funds.  So, does the property belong to me?
Answer:  No.  The equipment is the property of the University.  If the grant/contract was issued to the University, then any equipment purchased with those funds becomes the property of the University.

Question:  The equipment I use was purchased with my Seed Account.  So, does the property belong to me?
Answer:  No.  The equipment is the property of the University.  Seed Accounts are University Funds and any equipment purchased with those funds becomes the property of the University.

Question:  What is “capital” equipment?
Answer
:  Capital equipment is equipment purchased by the University that has a unit cost of $1,000 or more and a useful life of at least one year. 

Question:  Do I have to inform the Property Section when I move capital equipment from one location to another, or transfer it from my department to another department?
Answer:  Yes!  In order for us to keep the University’s fixed assets system up-to-date, we need to know when equipment changes location so we can update that information in the system.  Complete a Property Transfer Form, obtain all required signatures and forward to the Property Section.

Question:  How do I get rid of equipment that my department doesn’t want anymore?
Answer:  Complete a Property Survey Request Form, obtain all required signatures and forward to the Property Section.  The Property Coordinator will initiate a TMA work order for the property to be picked up and removed.

Question:  I cannot find a piece of equipment.  What should I do?
Answer:  Report it as missing, complete a Missing/Stolen Report and submit to the Property Section.  If you think the item was stolen report it to the University Police.

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