Procedure BF-PM-PR1 Inventory Management System  

Dates Effective: From: September 1, 2019
Responsible Officer: Associate Vice President and Controller
Sponsoring Department: Business Services
Errors or changes to: policysite@uta.edu

Contents

Objective
Scope
Procedures
Definitions
Relevant Federal and State Statutes
Relevant UT System and UTA Policies, Procedures, and Forms
Appendices
Contact Information

Objective
This procedure outlines and implements the Inventory Management System employed by the University of Texas at Arlington (the “University”).  By these procedures, the University establishes and maintains standards of conduct and professional practice with the express goal of maintaining consistent compliance with all applicable state and federal laws and rules, as well as with University of Texas System rules and policies, regarding the protection of University property. The provisions of this procedure establish the requirements and protocol for the monitoring, tracking, reporting, annual inventory and follow-up inventory of University property. This procedure also defines the roles and responsibilities of all University stakeholders in the Inventory Management System,and emphasizes the responsibility of every University employee to safeguard the University property within their custody and control. This procedure further provides University departments with guidance on the information to include in property records and how to maintain departmental property records of all university property in the department's possession.

Rationale

The University is accountable to the people and government of the State of Texas for all property within its custody.  As a publicly funded institution of higher education, all property owned, possessed and held by the University rightfully belongs to the State of Texas.  Thus, the University and all University staff, students and any other individual having custody or control of said University property are subject to state laws pertaining to the control and protection of state-owned assets.

Texas Government Code §403.2715(c) requires, “At all times, the property records of a university system or institution of higher education must accurately reflect the personal property possessed by the system or institution.” Government Code §403.273(h) further provides the University could be subject to review by state auditors at any time “to determine if controls are adequate to safeguard state property.”  Finally, Government Code §403.275 provides the University or individual University personnel could be liable for the loss or damage of property that is not properly safeguarded.  It states, “The liability prescribed by this section may attach on a joint and several bases to more than one person in a particular instance.  A person is pecuniarily liable for the loss sustained by the state if: (1)  agency property disappears, as a result of the failure of the head of an agency, property manager, or agency employee entrusted with the property to exercise reasonable care for its safekeeping; (2)  agency property deteriorates as a result of the failure of the head of an agency, property manager, or agency employee entrusted with the property to exercise reasonable care to maintain and service the property; or (3)  agency property is damaged or destroyed as a result of an intentional wrongful act or of a negligent act of any state official or employee.”

The Texas State Comptroller requires that each state agency must conduct an annual physical inventory of the trust, capitalized and controlled personal property in the agency’s possession at a time of its own choosing during the fiscal year. The Texas Comptroller requires that the physical inventory must be completed by August 31st  of each fiscal year.  However, the University’s self-imposed deadline, which is set each year, is generally no later than June 30th

Therefore, the University must maintain strict controls on the tracking and reporting of all property within its control to ensure compliance with state law, as well as with UT System rules and requirements.  It is highly important to the University as a whole that these procedural controls be followed by all University personnel because the University and individual University personnel could be held liable for lost or damaged property.  Furthermore, future federal, state and private funding of the University, as well as public perception and the reputation of the University in general could ultimately be affected by the University’s implementation and enforcement of an effective and accurate inventory management system. 

Each University employee is responsible for using state equipment only for state purposes and to exercise reasonable care for its safekeeping. The term "reasonable care" means that, at a minimum, steps are taken to maintain the asset in an acceptable manner, ensure the security of an asset, ensure that an asset can be located at any time requested, and ensure that the person responsible for the asset is known. At no time should state property be used for personal gain. The mandatory procedures comprising the University’s Inventory Management System are set out below.

 Scope

All University personnel who possess, control, use or track University property.

Procedures

Responsibilities
 
Property Manager

Ensures required property records are maintained and serves as the designated custodian of all property possessed by the University.
 
Department Head

Primarily responsible for the care and safeguarding of all University property assigned to, possessed or in use by their respective departments.

Primarily responsible for ensuring inventory contacts and all department staff abide by the requirements of these procedures.

Responsible for designating an inventory contact for that particular department, and ensures the inventory contact completes the inventory certification required herein.

Ensures the department inventory contact has access to all offices, classrooms, labs, closets, rooms and any other space in which department property is located on campus.
   
Primarily responsible for ensuring the annual inventory of all department capital and controlled assets is completed according to the requirements in this procedure.

Primarily responsible for ensuring all department assets, including Government property, are properly tagged.

Ensures that university property is used by department staff and students for official purposes only
.
Ensures accurate and current records of departmental property are maintained.
 
Inventory Services
 
Responsible for receipt and processing of Forms BF-PM-F1 Inventory Transaction Form, BF-PM-F7, BF-PM-F8, BF-PM-F2 Removal of Equipment from University Campus, BF-PM-F6 Record Disposition Log, BF-PGS-F9 Lost or Missing University Inventory Report Form and other inventory-related forms, reconciliation of information received from University departments, and maintenance of data and information on UT Share.
 
Receives completed forms and inventory scanning information from departments/ inventory contacts and makes necessary corrections in UT Share to ensure it is current and up-to-date at all times.

Provides replacement inventory tags to the departments as needed.

Provides instructions to each department outlining the procedures to be used to conduct the annual inventory.

Provides the inventory contact certification program.

Maintains a current list of designated inventory contacts.
 
Devises the schedule of inventory phases and publishes the schedule prior to the annual Inventory Certification.
 
Determines those departments to be selected for random and at-risk inventory follow-up reviews.
 
Conducts inventory audits on those departments selected for random and at-risk follow-up reviews.
  
Assists inventory contacts with completion of forms, and provides other assistance and collaborates with inventory contacts and other University personnel as needed. 
 
Distribution Services

Responsible for the disposition of surplus and salvage property.

Collaborates with Inventory Services and provides information necessary to ensure UT Share is accurate and up-to-date at all times.
 
Oversees and maintains the storage, evaluation and handling of all surplus property.

Receives and distributes University property.
 
Assigns inventory tag numbers for assets and provides inventory tags to the departments as needed.
 
Inventory Contact

Serves as the principal department contact in regards to all property possessed and controlled by that department.

Serves as the departments’ primary liaison to Inventory Services and Distribution Services.

Completes forms necessary for the disposition of department property.

Maintains knowledge of and access to all department classrooms, offices, labs, rooms, closets and other spaces housing department property.

Completes scanning of all department assets during the assigned inventory phase.
 
Completes inventory related forms on behalf of the department.
 
Custodian
 
Maintains possession of and control over department property assigned to their custody. 
 
Responsible for the oversight of department property assigned to their custody so as to maintain the asset in good working condition and prevent damage, loss, theft or other harm to the asset.
 
Responsible for knowing the location of property assigned to them at all times.
 
Provides asset information in a timely manner to the department’s inventory contact when requested, including communicating the change in status (missing, damage, theft, etc.) of any assigned asset to their inventory contact immediately upon knowledge of the change in condition.  

I.  Tagging Department Inventory
 

A.  The acquisition and tagging of University owned capital and controlled assets, is governed by Procedure BF-PM-PR2 Acquisition, Receipt and Distribution of University Property.

 

Per Procedure BF-PM-PR2 Addition of Property to a Department’s Inventory, as capital and controlled assets are acquired, every asset received, regardless of source, must be tagged with a uniquely numbered, bar-coded University inventory tag.
 
  • This tag will include the statement "Property of UT Arlington."
 
  • All inventory tags must be applied to assets so that they are highly visible and easily accessible during the annual inventory.
 
  • Previously assigned inventory tag numbers may not be reassigned or reused.
 
  • In the event a department receives any capital or controlled asset without a University inventory tag, it is the responsibility of the department to contact Inventory Services and request a tag for the asset according to the process established in Procedure BF-PM-PR2 Addition of Property to a Department’s Inventory. 
 
  • Any capital or controlled assets discovered without a required inventory tag during an inventory audit review will be counted as missing property for purposes of Section IV of this Procedure.   
 

B.  The acquisition and tagging of Government property by University departments, particularly capital and controlled assets, is governed by Procedure BF-PM-PR7 United States Government-Owned Equipment: Responsibilities, Care, Maintenance, Utilization, Identification, Disposition, and Records.

 

Per Procedure, as capital and controlled assets are acquired which are classified as Government property, every asset received, regardless of source, must be tagged with a Government property tag.
 
  • The Government property tag will include a statement identifying it as belonging to the U.S. Government or a specific State agency (i.e. the Texas Department of Transportation).
 
  • All Government property tags must be applied to assets so that they are highly visible and easily accessible during the annual inventory.
 
  • In the event a department receives any capital or controlled asset without a required Government property tag, it is the responsibility of the department to contact Inventory Services and request the tag for the asset according to the process established in Procedure BF-PM-PR7  United States Government-Owned Equipment: Responsibilities, Care, Maintenance, Utilization, Identification, Disposition, and Records. 
 
  • Any capital or controlled Government property discovered without the required tags during an inventory follow-up review will be counted as missing property for purposes of Section IV of this Procedure. 
 
  • Inventory Carrying Values: The acquisition cost, or inventory book value, of a property item remains the same as long as the item is carried on the university inventory. The acquisition cost includes all shipping and installation charges required to get the equipment to its usable state. Department personnel should always use the exact inventory book value of an item on forms and in correspondence requiring the inventory value.
     
II.   Designation and Certification of Inventory Contacts
                         

A.  Designation of inventory contacts.

Every department head must have at least one individual designated to act as the inventory contact for each department under their oversight at all times. In the event multiple inventory contacts are appointed, one must be designated as the primary inventory contact for the department.
 
  • The name, phone number and email address of the inventory contact(s) must be forwarded to Inventory Services by email no later than two (2) business days from the date of their designation.
 
  • Different departments within the same college or division may share an inventory contact.

Department heads must ensure the department’s inventory contact has unlimited access to all offices, classrooms, labs, closets, rooms and any other space in which department property is located on campus at all times.    

Departments that do not have a certified inventory contact at the time their annual inventory is set to begin may be scheduled for an at-risk inventory follow-up review as described in Section IV herein.      

B.   Certification of inventory contacts. 

Each inventory contact must complete the Inventory Contact Certification Program provided by Inventory Services.

The Inventory Contact Certification Program shall include the following subjects:
 
  • Introduction to the Inventory Management System established herein.
 
  • Important terms and definitions.
 
  • Review of policies and procedures, including the processes for acquisition and disposition of University property, the handling of Government property, and the functions of Inventory Services, and Distribution Services.
 
  • Stakeholder roles and responsibilities.
 
  • Annual inventory and scanning of assets.
 
  • Random and at-risk follow-up reviews.
 
  • Missing inventory.  

Inventory Contact Certification is valid for a period of three (3) years after which time the certification must be renewed by re-taking the Inventory Contact Certification program. If significant changes in Inventory processes take place, a renewal may be required more frequently.

Inventory contacts who have not completed the Inventory Contact Certification will not be permitted to participate in the annual inventory as provided herein.


III.  Annual Inventory

A.   The University departments will be divided and assigned to phases for purposes of completing the annual inventory.

The scheduling of the phases and assignment of departments to the phases will be published by Inventory Services prior to the annual Inventory Certification.

In making the department assignments and scheduling the inventory phases, Inventory Services may consider the following factors:
 
  • Number of assets
 
  • Location of assets
 
  • Nature and type of assets
 
  • Inventory contacts shared by different departments

At least ten (10) business days prior to the start of each phase, Inventory Services will make available to the inventory contacts assigned to that phase the complete and current list of all capital and controlled assets, including Government property, belonging to that department according to UT Share.
 
On the business day immediately preceding the day a department’s assigned phase is set to begin, Inventory Services will make scanning equipment available to the department’s inventory contact for pick-up (the “pick-up date”).
 
  • The inventory contact must be available on the pick-up date to receive the scanning equipment.
 
  • In the alternative, the inventory contact may arrange to pick up the scanning equipment at an agreed time during their assigned inventory phase. 
 
  • The receipt of the scanning equipment on a date other than the pick-up date will not affect or change the date on which the scanning equipment must be turned back in to Inventory Services (the “completion date”).  
 
  • If the department has more than one certified inventory contact, the department may request more than one set of scanning equipment.
 
    • The written request for more than one set of scanning equipment must be emailed to Inventory Services no less than ten (10) business days prior to the start of the department’s assigned phase. 
 
  • Approval of the request will be subject to the availability of sufficient scanning equipment and whether the department is deemed sufficiently large enough by Inventory Services to warrant multiple scanners.

D.   In the assigned inventory phase, the inventory contact is responsible for scanning all capital and controlled assets on that department’s active inventory list.

Unless previously approved by Inventory Services because of the nature of the asset, such as works of art, antiques, or books, the scanning of inventory tags that are not physically attached to the assigned assets is strictly prohibited.

The inventory contacts should also ensure door tags are scanned when scanning assets so as to note the location of the asset for reconciliation in UT Share.  If there is no door tag on a particular space, the Inventory Contact should contact Inventory Services and request a door tag.   

Scanning and inventory of all Government property equipment must be included with the annual inventory of department held property.

If the inventory contact finds department property that is not tagged but should be, then it is incumbent on the inventory contact to contact Inventory Services immediately and request an inventory tag for the asset so that their inventory list can be updated appropriately in UT Share, prior to any possible inventory review.

If inventory tags are damaged or worn and require replacement, the inventory contact should contact Inventory Services and request a replacement tag.   

E.  On the completion date, the inventory contact must surrender the scanning equipment to Inventory Services.

F.   Inventory Services will provide the inventory contact with a reconciled final list of the department’s inventory, including a list of missing assets.

 
IV.  Inventory Follow-Up Review:  Random and At-Risk Reviews
 

A.   In order to ensure adequate quality control in the inventory management system, all departments will be subject to random and/ or at-risk inventory follow-up reviews.

Every department in the University will undergo one random or at-risk inventory review at least once every three (3) years.

High-risk inventory follow-up reviews will consist of a go-behind inventory scanning performed by Inventory Services of controlled and capital assets on the selected department’s inventory list.

The inventory follow-up reviews will be initiated and completed as soon as practicable after the selected department has completed its own scanning during its assigned inventory phase so that the results of the department’s scanning can be accurately compared to the results obtained during the inventory follow-up reviews to be completed by Inventory Services.
    
B.  Random inventory reviews.

In every annual inventory cycle, Inventory Services will randomly select a certain number of departments for inventory review of a selected sample of the departments’ assets.

C.   At-risk inventory reviews.

In every annual inventory cycle, Inventory Services will select departments for inventory review based on the determination that the department is at risk for high incidence or probability of unaccounted or missing assets within the department.

The determination of at-risk status will be made based on the following factors:
 
  • Nature and type of assets.
 
  • Department performance during current and previous annual inventory cycles.
 
  • Number of assets reported missing during the department’s current inventory phase.
 
  • History of non-compliance with inventory related policies and procedures.  
 
  • Missing inventory discrepancy of two percent (2%) or greater in the previous year inventory cycle. (“Missing inventory discrepancy” is explained in Subsection IV.D.3. below.) 

The number of at-risk inventory reviews performed in any given inventory cycle will be determined on an as-needed basis.  There will not be a predetermined number of such reviews in an inventory cycle.

Nothing will preclude a department from undergoing an at-risk inventory review in consecutive or multiple years.  At-risk reviews will be performed on departments as warranted and regardless of the frequency or the date of the last at-risk inventory review or random inventory review performed on a particular department.    

D.   Calculation of missing property.

Upon the conclusion of an inventory review, Inventory Services will compile a final list of assets not scanned and characterized as missing from the department’s inventory and from that devise the percentage of department inventory that is missing (the “percentage of missing inventory”). 
 
  • For purposes of calculating the percentage of missing inventory in the inventory review, missing property will include:
 
    • Any asset on a department’s active inventory list that is absent and its whereabouts cannot reasonably be accounted or verified during an annual inventory cycle. 
 
    • An asset that has been cannibalized to the extent that the asset is no longer the same piece of equipment that was originally tagged in contravention of the requirements of Procedure BF-PM-PR3 Removal of Property from a Department’s Inventory .
 
  • Government property sold, transferred or otherwise disposed of in contravention of the requirements of Procedure BF-PM-PR7 United States Government-owned Equipment: Responsibilities, Care, Maintenance, Utilization, Identification, Disposition, and Records.
 
  • Department assets transferred to another department, sold, transferred to surplus, or disposed of in any other way in contravention of Procedure BF-PM-F1 Disposition of University Property.
 
  • A capital or controlled asset to which a University property tag is not attached, and for which a tag has not been requested, in contravention of the requirements of Procedure BF-PM-PR2 Acquisition, Receipt and Distribution of University Property.
 
  • Government property to which a Government property tag is not attached, and for which a tag has not been requested, in contravention of the requirements of Procedure BF-PM-PR7 United States Government-Owned Equipment: Responsibilities, Care, Maintenance, Utilization, Identification, Disposition, and Records  .
 
  • An asset that has been taken off-campus and is not produced for scanning during the department’s inventory scanning or during an inventory review.

For purposes of calculating the percentage of missing inventory in the inventory review, missing property will not include:
 
  • Stolen property that has been reported to University police in accordance with the requirements of Procedure BF-PM-PR3 Removal of Property from a Department’s Inventory.
 
  • An asset of which the whereabouts can be reasonably explained and which is otherwise missing for reasons beyond the control of the department.
 
  • When there is sufficient documentation to show an asset has been sent off-campus and cannot be returned in time for scanning. 

Inventory Services will then compare the percentage of missing inventory reported by a department as the result of its own scanning during its assigned inventory phase, and the percentage of missing inventory found during the inventory follow-up review.

The difference between the department’s self-reported percentage of missing inventory and the percentage of missing inventory found during an inventory review will be referred to as the “missing inventory discrepancy”.
 
  • Example.  Department X scans its inventory during its assigned inventory phase and reports that 5% of its total inventory is missing.  An inventory review (random or at-risk) is conducted on Department X and finds 15% of the department’s inventory is actually missing.  The missing inventory discrepancy is 10%.  

E.  Reporting of Results.

Inventory Services will make separate and specific report of all missing inventory, including specific notation of missing inventory discrepancy results of two percent (2%) or greater, to the Property Manager.  The report will also state the acquisition cost of all missing inventory.  The Property Manager will then report those results to the University’s Chief Financial Officer and Vice President.

Departments having a missing inventory discrepancy of two percent (2%) or greater will be subject to at-risk inventory review in the following year’s inventory cycle.

V.  Property Records


 
A.  Maintaining departmental property records.

Departments should maintain property records to assist them in controlling and accounting for university property.
 
  • Each department head should ensure that such records concerning the department's inventory are accurate and current.
 
  • These records should include a listing of the items assigned to the department (i.e., the departmental inventory) and copies of any completed forms, including Form BF-PM-F1 Inventory Transaction Form, Form BF-PM-F7 State Property Transfer Request Form, Form BF-PM-F8 Asset Transfer Receipt Form, Form BF-PM-F2  Removal of Equipment from University Campus, Form BF-PGS-F6  Asset Information Form, Form BF-PGS-F9 Lost or Missing University Inventory Report Form, and all inventory procurement documentation, to which the department is a party.  

Information should be kept on preventive maintenance and calibration schedules, warranty periods, service contracts, etc.

Ideally, inventory records will be maintained in a central location in the department and internal procedures should be established to keep the records updated throughout the year. This will facilitate taking the annual physical inventory.

Effective Date
 

This procedure becomes effective on September 1, 2019.

 

This procedure replaces and supersedes:
 
  • Procedure 2-43 Responsibilities, Inventories, Reporting, and Tracking of University Property[June 22, 2015]
  • Procedure 2-47 Departmental Property Records [September 16, 2015]

 

In the event any of the provisions of this procedure conflict with state or federal law, or UT System rules or regulations, then those authorities will take precedence over the provisions set forth herein.     


Definitions

Annual Inventory: The process by which the location and status of all capital and controlled assets in the possession of the various University departments, centers, and designated university offices are reconciled by scanning the inventory bar-coded tags on the assets and comparing those results to the inventory of assets listed in UT Share.  The Texas Comptroller requires that the physical inventory must be completed by August 31st  of each fiscal year.  However, the University’s self-imposed deadline, which is set each year, is generally no later than June 30th.      

Cannibalization: The act of removing or stripping part(s) or component(s) from one identifiable asset for use with or installation into or onto another identifiable asset, often to the extent that the original asset is inoperable or nonfunctional for its original intended use.

Capital Asset:  Real or personal property that has an estimated life of greater than one year and a value equal to or greater than the capitalization threshold established for that asset type. The threshold values for capitalized assets include the following:

 
 Description Threshold Amt.
Tangible Assets
Furniture and equipment $5,000
Vehicles, boats and aircraft $5,000
Other capital assets
  • Books - Historical, Manuscripts & Rare Publications
  • Works of art and historical treasures
 
  • $0
  • $0
Intangible Assets
Computer software $100,000
Internally developed computer software $1,000,000
Other intangible capital assets $100,000

Consumable: Items that typically have a useful life of less than one year.

Controlled Asset:  An asset that does not meet the capitalization value threshold, but still must be secured, tracked, and accounted for in the annual inventory due to the nature of the item.  Controlled assets include:
 

Controlled (at any cost)

Class Code Property Item
106 Hand Guns
107 Rifles and Shotguns
203 Servers
204 Computer Desktop – not Apple
214 Computer Desktop - Apple
219 Smartphones, Tablets & other Hand Held Devices
284 Laptop Computers – not Apple
294 Laptop Apple CPU

 

 

Controlled ($500.00 to $4,999.99)

Class Code Property Item
129 Sound Systems and Other Audio Equipment
130 Camera-Portable – Digital, SLR
131 TVs, Video Players/Recorders
218 Data Projectors
735 Unmanned Aerial Vehicles (UAV) Drones

Custodian:  The individual primarily responsible for possession, use and oversight of a specific item of University property so as to maintain the asset in good working condition and prevent damage, loss, theft or other harm to the asset.

Department Head: The individuals (Chairs) designated by the Deans of the ten academic University Colleges  or Schools, including the University Library, to lead the various departments within those colleges and schools.  In regards to non-academic divisions, the Vice Presidents, Assistant Vice President, Associate Vice President,  University Attorney, and Athletic Director, all of whom report directly to the University President, are the Department Heads of their respective divisions.  Department Heads may delegate their duties hereunder as they deem appropriate.  However, the accountability of the Department Heads hereunder is non-delegable. A list of University departments is maintained by Inventory Services and can be obtained by email request to Inventory Services at inventory@uta.edu.     

Distribution Services (“Distribution Services”): The University department supervised by the Assistant Vice President for Business Services that is responsible for, among other things, the receipt and distribution of University property, mail services, and the disposition of surplus and salvage property.  

Equipment:  A tangible asset that is functionally complete for its intended purpose, durable, nonexpendable, and needed for the performance of a contract or some other identifiable purpose. Equipment is not intended for sale, and does not ordinarily lose its identity or become a component part of another article when put into use.

Government property:   All property owned, leased or provided by the federal government, state agency or other public or private entity, or acquired using funds provided by said entities, related to a research project-related grant, contract or cooperative agreement with the University. Government property includes both government-furnished property and contractor-acquired property. Government property includes material, equipment, special tooling, special test equipment, and real property. Government property does not include intellectual property and software.

Inventory Contact:  The individual or individuals designated by the Department Head to serve as the principal department contact in all matters pertaining to property possessed and controlled by that department.  The inventory contacts are the departments’ primary liaison to Inventory Services, and Distribution Services.  

Inventory Services:  The University department supervised by the Assistant Vice President for Business Services that is responsible for oversight of the annual inventory certification and associated follow-up inventory reviews, receipt and processing of Forms BF-PM-F1, BF-PM0-F7, BF-PM-F8, BF-PM-F2, BF-PM-F6, BF-PGS_F9 and other inventory-related forms, reconciliation of information received from University departments, and maintenance of inventory information on UT Share. 

Missing Property:  An asset that is absent and its whereabouts cannot be accounted for or verified.  Missing property includes lost and stolen property.   

Missing Inventory Discrepancy: The difference between a department’s self-reported percentage of missing inventory and the percentage of missing inventory derived during a random or at-risk inventory follow-up review.

Percentage of Missing Inventory:   The percentage of department inventory that is determined to be missing either by a department during its self-scanning phase or as the result of a random or at-risk inventory follow-up review.

Property:  Any capital or controlled asset in the possession and control of the University that is not classified as real property.  Property is any possession of the University/ State of Texas that has sufficient value and/ or is of a particular nature so as to warrant inclusion in the fixed asset financial reports and to have management controls placed upon it. For purposes of this procedure, it does not include consumable items nor does it include real property such as land or buildings, improvements to land or buildings, or infrastructure.

Property Manager: Texas Government Code §403.2715(d) requires that the University President designate a Property Manager who will maintain required property records and serve as the custodian of all property possessed by the University. The Associate Vice President and Controller is the University’s designated Property Manager.
Salvage Property:  Property that, because of its worn, damaged, deteriorated, incomplete condition, or specialized nature, has no reasonable prospect of sale or use as serviceable property without major repairs, but has some value in excess of its scrap value.

Scrap:  Personal property that has no value except for its basic material content.

SPA:  The State Property Accounting system; implemented by the Texas State Comptroller, it establishes the requirements for inventory management systems to be implemented by state agencies, including the University. 

Stolen Property:  Any equipment missing without the express consent of the University as the result of forced removal, burglary, theft, misappropriation or other criminal acts.  Stolen property includes assets removed from the University premises which are not returned to the University upon demand. 

Surplus Property:  Property that exceeds the University’s needs and is not required for the University’s foreseeable needs.  The term includes used or new property that retains some usefulness for the purpose for which it was intended or for another purpose.

UT Share: The computerized accounting system used by a subset of the UT System.  UT Share includes an asset management module utilized by the University to monitor, track and report all University-owned property.

Relevant Federal and State Statutes

Texas Government Code §§403.013, 403.2715, 403.272, 403.273(h), and 403.275

 

19 Texas Administrative Code Chapter 17

 

Texas State Comptroller State Property Accounting (“SPA”) Process User’s Guide

Relevant UT System and UTA Policies, Procedures, and Forms

Form BF-PM-F1 Inventory Transaction Form

Form BF-PM-F7 State Property Transfer Request Form

Form BF-PM-F8 Asset Transfer Receipt Form

Form BF-PM-F2 Removal of Equipment from University Campus

Form BF-PGS-F6 Asset Information Form

Form BF-PGS-F9 Lost or Missing University Inventory Report Form

Contact Information

All questions regarding the content of this procedure should be directed to the Office the Associate Vice President and Controller.