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Procedure: 10-32

Effective: May 16, 1988

Owner: Financial Reporting & Analysis

Latest Revision: February 2, 2009

Controlling Equipment Trust Fund (ETF) Items

Procedure Steps

Scope | System References | Policy | Responsibility | Distribution | Ownership

Scope

To provide guidance to departments on methods of controlling ETF items.

System References [Top]

 

Policy [Top]

Policy X.C.1, "Equipment Trust Fund (ETF)"

Responsibility [Top]

 

Distribution [Top]

 

Ownership [Top]

 

Procedure Steps [Top]

Departments must adhere to the following guidelines in controlling all items purchased through the Equipment Trust Fund.

Terms of the ETF program require the University to exercise a high degree of control over ETF equipment. All ETF items are owned by the Virginia College Building Authority (VCBA), a separate State agency.

To remind users of VCBA's ownership, all ETF asset tags will begin with the letter "E" (for UVA) and "CE" (for UVA Wise). ETF equipment is expected to be used on-Grounds. When off-Grounds use is required, ETF items must first be tagged by Property Accounting to insure proper identification and ownership. The on "Off-Grounds Certification" need to be completed and sent to UVA Fixed Assets (Property) Accounting. State guidelines prohibit taking ETF equipment outside the Commonwealth of Virginia.

EACH ETF TAGGED ITEM MUST MAINTAIN ITS ORIGINAL INTEGRITY AS A FUNCTIONAL UNIT. COMPONENTS OF ETF FUNCTIONAL UNITS SHALL NOT BE INTERCHANGED WITH ANY OTHER FUNCTIONAL UNITS.

All ETF items are insured in the same manner as University-owned assets. The University is responsible for all maintenance and insurance charges for ETF items.

ETF items cannot be cannibalized or disposed of in any manner. If disposal of an ETF item becomes necessary, please contact the Equipment Trust Manager (924-4323) for disposition instructions. If an ETF item is lost, damaged, stolen, returned for credit or replaced (tagged or not tagged), etc., inform the Equipment Trust Manager immediately.

End of Activity

 


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