INVENTORY CONTROL POLICIES AND PROCEDURES
8. Request for Change of Accountability
8.1 Use of the Request for
Change of Accountability Form (Exhibit
IC-1) applies ONLY to equipment appearing on the University's equipment
inventory. It is not required for items not defined as equipment under current
University policy. A Request for Change of Accountability Form is to be used to
report equipment lost, stolen, relocated, to be transferred to another
administrative unit, to be traded, to be returned to grantor, to request
permission to salvage equipment, or to reclassify equipment as surplus. A
separate form is necessary for each requested change of accountability. The head of the administrative unit
responsible for the equipment should initiate the processing of the form. After the Request for Change of
Accountability Form is approved by the Property Officer, a copy of the form
will be distributed to administrative unit(s) affected by the change.
8.1.1 Missing Equipment
If equipment is discovered
missing, University Police should be contacted immediately. (See Inventory
Control Policies and Procedures, Section 1.17.) University Police will conduct an
investigation, file a report and forward a copy of the report to the Property
Officer. The head of the administrative
unit responsible for equipment is to complete a Request for Change of
Accountability Form and send to the Property Officer. A list of missing equipment shall be included
in the Property Loss Report submitted monthly to the Tennessee Board of
Regents.
8.1.2 Transfer of Equipment to Another
Unit
A department may, with proper
authorization, transfer equipment to another department or administrative
unit. Prior to the physical transfer of
the equipment, a Request for Change of Accountability Form must be completed to
record the change of account and/or location to indicate in the inventory records
the unit responsible for the equipment after the transfer.
8.1.3 Change of Location of
Equipment
A Request for Change of
Accountability Form is to be processed by the unit responsible for the equipment
any time the permanent location of an inventoried asset changes.
8.1.4 Request to Salvage Equipment
Salvage equipment includes items
that are irreparable or that for which the cost of repair exceeds its present
value. To request that equipment be
declared salvage, a Request for Change of Accountability Form is to be
completed and sent to the Property Officer, who will determine the method of
disposal. The Property Officer is
responsible for the proper disposal of all equipment, including salvage, scrap
and equipment that may be used for parts.
8.1.5 Surplus Equipment
Surplus equipment includes usable
equipment that is no longer needed by the University or that for which future
needs do not justify the cost of maintenance and/or storage. To declare equipment surplus, a Request for
Change of Accountability Form is to be completed by the head of the
administrative unit responsible for the equipment and sent to the Property
Officer, who will determine the proper method of disposal. If assistance is required in removal of
surplus equipment from its permanent location, such request should be made to
the Director of Custodial and Grounds by the administrative unit responsible
for the equipment.
8.1.6 Equipment Trade-In
Equipment may be traded in on like
equipment within the confines of a competitive bid process during the
acquisition of new equipment. (See Purchasing
Policies and Procedures.) In such
cases the head of the administrative unit responsible for the equipment shall
complete a Request for Change of Accountability Form. The completed form is to be sent to the
Property Officer for removal of the equipment from the administrative unit's
inventory listing.
8.1.7 Return to Grantor
Whenever equipment purchased with
grant funds is returned to the grantor (See Inventory
Control Policies and Procedures Section 4.3.), a Request for Change of
Accountability Form is to be completed by the head of the administrative unit
responsible for the equipment and sent to the Property Officer, who will remove
the equipment from the administrative unit's inventory listing.
8.1.8 Other
Should a change in the status of
an asset occur that is not covered by any of the descriptions listed above, a
Request for Change of Accountability Form is to be completed by the head of the
administrative unit responsible for the equipment and sent to the Property
Officer. The "other" category
should be selected on the form, and the circumstances resulting in the change
should be specified on the form. The
Property Officer will then determine the status of the equipment and make any
necessary changes to the administrative unit's inventory listing.
This information is
maintained by Business & Fiscal Affairs
Last Updated: 26-JUNE-2006
For more information, contact Business Services
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