Property Management Policy & Procedure Manual
Section 300: Equipment Management
The receiving department is responsible for receiving and inspecting newly acquired equipment, regardless of the method of acquisition. Inspection should occur prior to processing the invoice to protect the University against loss.
Assets Purchased through Banner FIS system have a record generated automatically and result in an inventory bar code tag that is sent to the owning department.
Assets Received Through Other Means (loans, transferred in with Principal Investigator (PI), leases, etc.) must be added to inventory via a Fixed Asset Data Entry (FADE) form (see PRO-Ex3 for the downloadable form, directions, and an example of a FADE form).
All capital assets should be added to inventory as soon as possible and no later than 60 days of receipt.
- Prior to signing any documentation to accept a shipment, ensure that the package(s) has not been damaged. The shipment should be refused if damage is apparent.
- Verify contents against Bills of Lading, Purchase Orders or other receiving documents to assure that the order is complete. If overages, shortages, or damages are discovered, the vendor or shipper should be contacted immediately. Packing slips, bills of lading & other documents should be submitted to the department's accounting office and archived with the purchase order/invoice.
- Test equipment to make sure that it functions properly within the allotted warranty period.
- For reporting requirements for Federal Sponsored Grants and Contracts, see PRO 902-02: Principal Investigator Responsibilities - Ordering, Receiving & Tagging.
See PRO 304: Insurance for information on interim period.
See Campus Freight website for information relating to shipping and receiving packages.