Property Management Office
The Property Management Office has the primary responsibility for the implementation of procedures, policies, and controls to provide for the accurate accounting of the acquisition, control, and disposition of University (State) property (SAM Section 8600). The Property Management Office is responsible for the following functions: 1) to physically inventory one-third of the University's property each year, 2) maintain up-to-date property records and initiate all forms necessary to properly carry out this function, and 3) regularly and routinely adjust property records and reconcile to official University accounting reports of equipment expenditures. As part of the reconciliation process, it is the responsibility of the Property Management Office to notify the Accounting Office, through the use of reconciliation reports, of any errors in or changes needed to the official University records. It is the responsibility of the Accounting Office to make the appropriate corrections/adjustments to the official capital asset records indicated by the reconciliation reports from the Property Management Office.
Campus Department (End User)
The campus end user department has the responsibility for the care, custody, maintenance, and control of ALL property assigned to the department. It shall maintain up-to-date departmental records and complete all forms as necessary to fully inform the Property Management Office with respect to the custody, records and transactions involving departmental property. Departmental managers should assign a designated individual to act as the department inventory clerk for this purpose.
Department inventory clerks are responsible for the following:
1. Conduct, in conjunction with the Property Coordinator, an inventory of the department once every three years (Please refer to "Physical Inventories", below). SAM Section 8652 states that "Inventories will not be exclusively controlled by the custodian (the Property Coordinator) of the property records..." so a staff member will need to be assigned to assist with physical inventories of department assets.
3. Promptly report any lost or stolen property to the Property Management Office and file a police report with Public Safety according to SAM sections 262S and 8643 (Please refer to "Survey of Property").
Location of Property
The location of property should be noted in the departmental records, as well as the Property Management Office. Current records should be maintained in such a manner that any item of property can be located for inspection or inventory purposes within a reasonable time. Any relocation of property must be reported to the Property Management Office (Please refer to "Relocation of Property").