Frequently Asked Questions
What is the definition of Capital Asset?
A capital asset is any furniture or equipment item(s) with a single unit value of $5,000 or greater and an estimated useful life of more than one year.
What is a Controlled Asset?
A controlled asset is any property item(s) that the State Comptroller requires agencies to report to the State Property Accounting System. Included in this report, furniture or equipment items with a single unit value of $500 to $4,999.99 that must be secured and tracked due to the nature of the item. Firearms are controlled at any cost. Responsibilities, Inventories, Reporting and Tracking of University Property (Procedure 2-43) further outlines additional controlled items.
How do you dispose of university equipment?
There are several ways in which to dispose of university equipment:
- Transfer to Another Department
- Transfer to Surplus Property
- Removal of Surplus Property Items from Inventory
- Removal of Damaged or Broken Surplus Property
- Transfer to another State Agency, University or Research Facility
- Sale of Equipment
- Trade-in of Equipment
- Cannibalization
- Missing or Stolen Property
Refer to Removal of Property from a Department's Inventory (Procedure 2-45) which further defines these modes of transfer."
Where do I go to report or locate lost personal property?
The "Lost and Found" is located in the UT Arlington Police Station and is open 8 a.m. to 5 p.m. weekdays. Other "Lost and Found" locations on campus include: Libraries, Activities Building checkout counter, University Center Information Center, UT Arlington Bookstore, and School of Nursing in Pickard Hall.
What is the *DEFINE Inventory Module?
The *DEFINE Inventory Module NVM is used by the University departments to track capital and controlled assets assigned to their department care. Refer to Responsibilities, Inventories, Reporting and Tracking of University Property (Procedure 2-43) for more information on how to use this module.
Who do I call to report a vending machine problem?
To report vending machine problems, request changes, and refunds call ext. 22191. Refunds are processed at the Davis Hall or University Center Bursar Services.
What is the procedure for removing university equipment from campus?
University equipment should be removed from campus for business use only. Prior to taking the equipment off campus, the employee should complete a Removal of Equipment from University Campus (Form 2-47). The completed form should be kept in the department inventory file, a copy given to the employee, and a copy sent to the Asset Management Office. When the equipment is returned to campus, the returned date should be noted on the original form and the AM Office should be notified that the equipment has been returned to campus.
What is the procedure for University held government property?
The Property Manager is responsible for the implementation of the Government Property Program for UT Arlington. The University Procedures provides instruction to all project directors/principal investigators (PD/PI) and Department Chairmen on the procedures necessary for the central US Government-owned equipment in the possession of UT Arlington.