Number: 
03-150-401
Type: 
Rule
Policy Steward: 
Manager of Analytical Ops
Format Updated: 
University Policy & Standards Converted: 
Status: 
Current
Revision Date: 
Wednesday, July 27, 2016

* This information replaces PRO 001 Introduction & 101 Responsibilities

 

  • PRO 001:  Introduction

  • Effective: 07/01/1996
    Revised: 10/15/2015

  • All property, equipment, and supplies acquired by Oregon State University remain the responsibility of the University until disposed of in an authorized manner.

    The Property Management Policy and Procedure Manual (PRO) provides information necessary for managing the capital assets of Oregon State University from acquisition to disposal.

    All units are required to place one or more responsible persons in charge of all equipment whether capitalized or minor. This applies to the main campus in Corvallis, the Hatfield Marine Science Center (HMSC) in Newport, all Agriculture Experiment Stations (AES), all Extension Offices, the OSU portion of the Collaborative Life Sciences Building in Portland, OSU Cascades in Bend, and all other OSU installations.

    In the event of an inconsistency or conflict, applicable law and the Oregon State University Board of Trustees’ policies supersede University policies and University policies supersede college, department, or lower unit bylaws, policies, or guidelines.

    The University reserves the right to add, amend, or revoke any of the contained rules, policies, regulations, and instructions or incorporate additional ones, with or without notice, as circumstances or the good of the University community may require.

 

  • PRO 101:  Responsibilities

  • Effective: 07/01/1971
    Revised: 07/27/2016

    It is paramount that everyone at Oregon State University recognize and take seriously their role in effective stewardship of University property.

    Deans, Department Heads, Chairs, and Directors are responsible for:

  • All property acquired in any manner by their units.
  • Ensuring that property within their organizational custody is identified, inventoried, safeguarded, maintained, utilized and disposed of in accordance with OSU, state and federal regulations and laws.
  • Designating an equipment manager/property coordinator to oversee the accountability and administration of unit inventoried capital assets.

  • Department Heads are responsible for:

  • Delegating maintenance duties as appropriate because each unit is responsible for the use, care, and maintenance of all property in its custody.

  • The Departmental Property Coordinators or Equipment Managers maintain the departmental equipment records and are responsible for:

  • Ensuring that all equipment is appropriately coded, recorded, tagged, and marked.
  • Initiating changes to the unit inventory.
  • Coordinating, assisting with and/or conducting the physical inventory of equipment.
  • Providing information about property procedures and requirements to departmental personnel.
  • Assisting the department heads with property functions.

  • The departmental property coordinators are usually the primary liaisons with Fixed Assets Property Management inventory staff.

    Principal Investigators (PIs) or Custodians are responsible for:

  • Receiving, maintaining, protecting, controlling, and restricting the use of property assigned to their custody.
  • Being accountable for all sponsoring organization requirements which may include screening, acquisition, maintenance, storage, and the prompt reporting and disposition of excess or surplus property.
  • Promptly reporting any loss, damage or destruction of federal property. See PRO 900: Sponsored Research and Federal Property for information about federal sponsoring agency requirements.
  • Ensuring that each equipment item remains marked in a visible, easily accessible location with an OSU asset tag (see PRO 302: Tagging) and additionally with a sponsor's asset tag, if required by the terms of the grant or contract. Note: Equipment assigned to an individual's custody, whether acquired with state, federal or other funds, remains the property of OSU or the sponsoring organization.
  • Ensuring that certain equipment is appropriately stored and safeguarded when not in use.
  • Conducting or arranging for an annual inventory, if required by the sponsor, as well as, closing inventory of sponsor-accountable property as part of the grant/contract closeout process.
  • Ensuring that property is only disposed of with prior approval from Fixed Assets Property Management in one of the approved manners described in PRO 800: Equipment Disposal.
  • Informing the departmental property coordinator of all equipment movement and disposal in a timely manner.

  • Other Departmental Users are responsible for:

  • Maintaining, protecting, controlling and restricting the use of property assigned to their custody. Equipment assigned to an individual's custody remains the property of Oregon State University.
  • Ensuring that each item remains marked in a visible, easily accessible location with an OSU asset tag (see PRO 302: Tagging).
  • Ensuring that the equipment is appropriately stored and safeguarded when not in use.
  • Ensuring that property is only disposed of with prior approval from Property Management in one of the approved manners described in PRO 800: Equipment Disposal.
  • Informing the departmental property coordinator of all equipment movement and disposal in a timely manner.

  • Fixed Asset Property Management within Business Affairs is responsible for:

  • Administering the OSU Fixed Assets inventory system. 
  • Maintaining capital asset records for OSU.
  • Ensuring that equipment accounting transactions are done properly to accurately update the fixed asset records.
  • Performing audits and approve all changes to the fixed asset database.
  • Assigning unique inventory numbers and tags for new fixed assets.
  • Assisting with tagging new equipment when requested and when feasible.
  • Coordinating and reviewing unit physical inventories to ensure compliance with University, state, and sponsoring organization requirements.
  • Assisting University faculty and staff with equipment procedures and inventory control.
  • Producing reports for units, administration, and sponsoring organizations as needed.
  • Developing accountability procedures to meet federal, state, sponsor, donor, and lender requirements.
  • Preparing forms for relief of accountability of federal property due to loss, damage or destruction.
  • Disposing of surplus property through the Surplus Property Program and authorizing disposal of other property as appropriate.