Equipment Survey Training February 14 & 15, 2012

Meeting Agenda Equipment Survey Overview Revised Equipment Survey File Review of Equipment Policy’s – Procurement & Auxiliary Services Policy Policy 5-10 Class I Moveable Equipment , Equipment Definitions Policy 5-6 Use & Disposal of University Equipment & Material, Disposal of Equipment Calendar Questions Equipment Contacts

Equipment Survey Overview Purpose of survey is to ensure the accuracy of the equipment within your department Equipment exists Physically verify the location of the equipment – important for F&A reporting Disposal of equipment as necessary Equipment data is as of 12/31/2011, this includes any equipment received by 12/31/2011

Revised Equipment Survey Files Files are based on the previous year file layout There will be a sheet of the original data that will be protected and a second sheet labeled Data Revisions The Data Revisions sheet is where you will make all of your changes Please do not make any changes to the Acquired Date or Book Value Do not sort the Data Revisions sheet, this sheet is linked to the original data sheet for comparison purposes You will not have to use track changes A change sheet has been added so your changes can be reviewed

Equipment Policy’s Procurement & Auxiliary Services Policy’s Policy 5-10 Class I Moveable Equipment Section II A 2 Class I Equipment Policy 5-6 Use & Disposal of University Equipment & Material Section II A Responsible Authority Section II B Research Grant Equipment Section III Procedures for Disposal Note – Copies of the policy’s are included in the handouts

Equipment Definitions Class I equipment is defined as movable, tangible personal property with an acquisition or declared value of $5,000 or more, is functional for its intended purposes in and of itself (except for an external power supply if needed), and has a useful life of two years or more. Accessory / Peripheral (Value Adjustment) When purchased separately and added to existing equipment, the value of the accessory/peripheral is added to the equipment value only when the cost of such accessory or peripheral meets or exceeds $2,000. Fabrication Fabricated equipment is composed of material purchased for the purpose of building, constructing or assembling of Class I equipment that will be so identified upon completion. Class I equipment at the University of Delaware will include those items in which material costs alone are $5,000 or more, and will not include labor costs

Disposal of Equipment Request the disposal of equipment with an e-mail Include in the e-mail the tag number and the description of the equipment The e-mail must be routed through the approval list to the highest level of approval based on the original cost of the equipment : If the equipment was purchased through research or grant funds, the e-mail must also be routed through Research for their approval to dispose of the equipment After all approvals are obtained, route to Asset Management (asset-mgt@udel.edu) and the equipment will be removed from inventory Directors/Chairpersons up to $100,000 Vice Presidents/Deans up to $250,000 Provost/Executive Vice President up to $500,000 President over $500,000

Calendar All Equipment Survey files were distributed by Friday February 10th Training held on February 14th and 15th Equipment Survey files are requested to be completed and returned to the Asset Management team by March 15th Please meet with the Asset Management team to discuss any possible calendar issues prior to the deadlines

Equipment Contacts Asset Management e-mail asset-mgt@udel.edu Karen Brown kmbrown@udel.edu Ext 8951 Nancy Eatough neatough@udel.edu Ext 0121

Notes