Issued: December 15, 1986
Latest Revision: June 18, 2008
FIXED ASSETS - RELEASING UVA CAPITAL EQUIPMENT TO ANOTHER INSTITUTION OUTSIDE THE COMMONWEATH
This policy describes the disposition of UVA owned capital equipment considered excess (surplus) to UVA and to be released (donated) to another university. (Note: this policy DOES NOT pertain to active awards which the sponsor may request be transferred to another institution. And any related equipment paid for with funds from that award may be required by the sponsoring agency to be provided to that new institution).
2.0 Policy [Top]
A faculty member resigning from UVA may express interest in taking or donating surplus UVA capital equipment to another institution. This first requires determining the equipment to be surplus to the University and requires various internal approvals, (Dept, PI, Dean, OSP, Fixed Assets Accounting and Surplus Property) prior to effecting any such transactions. [Important Note: Equipment with a “Property of US Government” sticker is not owned by UVA and can not be removed without the sponsoring agency’s approval.]
To request the release of UVA capital equipment the faculty member must first submit a written Letter of Request accompanied by a completed P-1 form (which details the surplus capital equipment) to his department head for approval. The department head then forwards both the approved request and P-1 to the dean for approval. When the department head is the principal investigator the Letter of Request and P-1 form are first submitted to the dean and then to the Provost or applicable vice president. These documents are then forwarded to the Fixed Assets Accounting Group.
The Letter of Request must first justify the removal of UVA’s capital equipment items by addressing the following questions:
The Equipment Inventory Change Request (Form P-1) should list the UVA asset tag number, description, funding award, its net book value, as well as its market value, the intended institution/destination and the expected date for delivery.
- Is this equipment no longer required by the department or organization?
- If so, why not?
- Will the faculty member continue the same research project at the new institution under the same sponsorship?
- Is the equipment so specialized that it has limited use in other research projects?
- Will surplusing this item adversely affect the research function of the department and its faculty members?
- Is there any other UVA organization who might utilize this surplus equipment?
- Does the release of equipment require sponsor approval?
Upon approval by the Fixed Assets Accounting Group the requestor will receive an approved P-1 form with an authorization number to enable them to then complete a Surplus Property Request as the final step in the approval process for releasing the surplus property. Requestor should indicate on the Surplus request to what institution and its address to where the equipment is to be donated/shipped and confirm with Surplus that the listed equipment will not be auctioned off.
See also: Procedure 10-1, "Preparation of Inventory Change Request."
3.0 Definitions [Top]
Capital equipment represents any equipment with a UVA bar-coded asset tag.
Govít owned equipment is equipment with a "Property of US Govít" sticker
4.0 References [Top]
UVA Surplus website
Virginia Regulations regarding Surplusing or Donating property
State Legislative Code - Surplusing materials
State Admin. Code - Donating materials
5.0 Approvals and Revisions [Top]
Previous version in effect from 12/15/86 to 4/21/05 available in policy archive.
Previous version in effect from 4/21/05 to 6/17/08 available in policy archive.