0. Equipment Survey Training
February 14 & 15, 2012

1. 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

2. 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

3. 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

4. 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

5. 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

6. Disposal of Equipment Request the disposal of equipment with an e-mail
Include in the the tag number and the description of the equipment
The 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 must also be routed through Research for their approval to dispose of the equipment
After all approvals are obtained, route to Asset Management 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

7. 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

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

9. Notes