HBP Part 16.6. Other Transactions Relating to Equipment

Date published: February 17, 2005
Last revised: Dec. 10, 2015
Issued by: Inventory Services

16.6. OTHER TRANSACTIONS RELATING TO EQUIPMENT

A. Removal of Equipment from University Premises

University-owned equipment may be removed from the premises to be used only for official business of the university. When equipment is removed, the individual removing it must assume financial responsibility unless otherwise specifically relieved of such responsibility by appropriate administrative officials.

For removal of equipment other than personal computers, an Equipment Located Off-Campus must be completed, signed by the department head, and sent to Inventory Services. Insurance is placed on equipment with a value of $5,000 or more, and the premium is charged to the department's account by Interdepartmental Transfer (IDT) from Inventory Services.

In instances in which the nature of the work conducted is such that the equipment must be used off campus repetitively, blanket authority will be granted in order to make frequent requests for permission unnecessary. The insurance coverage must cover the repetitive removals.

For removal of personal computers, logs must be maintained and should include the name of the employee who will have custody of the equipment, description of the equipment, inventory number(s), date checked out, estimated date to be returned, the signature of the department head, and the signature of the employee who checks out the equipment. These logs must be maintained in the department office and shall be made available for inspection by representatives the Office of Internal Audits, and Inventory Services.

Office of Internal Audits 
Inventory Services

B. Loaned Equipment

A department may loan property to another department to be used for official purposes only; however, it is the responsibility of the department loaning the equipment to prepare, have signed, and distribute a Receipt for Equipment Loaned or Returned form. When property has been returned to the department that loaned it, another receipt form shall be prepared, signed, and distributed in order that the borrower may be relieved of responsibility. Forms for these purposes are available from University Supply Service .

University property may be loaned to another state agency. Such transactions are governed by the state's property accounting system. This mandates that a change in custody of property between state agencies be properly documented. Therefore, the lending of university property must be authorized in writing by the head of the department that is lending the property, and a receipt is required from the agency receiving the property.

C. Vehicle Title Transfers

1. Vehicle Sales

Title transfers are required for the purchase and sale of all university vehicles, carts, trailers, and other wheeled conveyances that have a Manufacturer’s Certificate of Origin and/or require a title. When a new or used vehicle is purchased or received, the department must send all original vehicle paperwork to University Fleet Operations (UFO). This includes all manufacturers’ certificate of origins, original titles, and original sales invoices. The Fleet Department maintains a file of all original paperwork during the equipment’s useful life, and retains the records for a period of at least three years after the equipment is sold or otherwise disposed.

Departments must contact UFO prior to selling or transferring any vehicle, whether the sale is to another university department or to an external entity. Regardless of the method of sale, all vehicle sales are subject to Inventory Services’ disposal procedures. Once a sale or disposal is approved by Inventory Services, the Fleet manager can sign over title of all vehicles, boats, and bikes for incoming and outgoing equipment with the exception of insurance settlements. Refer to 19. Risk Management for information about vehicle insurance.

2. Salvaged Vehicles

If a vehicle is salvaged after an automobile accident, the department must contact the university’s Risk Management unit to file an accident claim and initiate title transfer. After the university’s Risk Management office accepts an insurance settlement offer, UFO completes the Texas Motor Vehicle Transfer Notification form. Then the vehicle title is signed by the university property manager or designated delegate, and the signed title is given to the insurance adjustor in exchange for the settlement check. For more information, refer to Part 19.1.1. Vehicle Insurance and Related Claims.

3. Resources

 

Part 16. Inventory Control and Property Management - Table of Contents