The responsibility for the acquisition, protection, and disposal of University assets lies with the Vice Chancellor for Business Affairs. To acquire government surplus or excess property, the requesting department must prepare a Purchase Requisition.
I. POLICY STATEMENT AND PURPOSE
The Vice Chancellor for Business Affairs is charged with responsibility for the acquisition, protection, and disposal of assets at UNC Charlotte. The coordination of acquisitions of equipment and property is delegated to the UNC Charlotte Department of Materials Management. Acquisition or disposition of equipment through gift or grant must be approved by the appropriate College Dean or his designee. The Controller’s Office, in coordination with the Office of Grants & Contracts Administration (GCA), is responsible for establishing and maintaining accountability for equipment acquired under sponsored agreements in accordance with sponsoring agency directives and University policy.
This policy applies to all University employees who have the opportunity to receive gifts of property and equipment or who make a request to purchase equipment for the University using grant funding.
A. Gift Property:
Property that is owned by the University that was received as a gift or donation from an external source at no cost to the University.
B. Grant Property:
Property that has been purchased by the University through its approved procurement methods and paid for using grant funds provided to the University by a granting agency.
C. Grant Funds:
Funds provided to the University by a granting agency to be used in furthering the University’s mission and in accordance with the stipulations of the particular grant agreement.
D. Grant Funded Equipment:
Grant funded equipment falls into one of three categories: University owned (UN), federally exempt (FE), or federally non-exempt (FN) for the purpose of asset tagging.
E. Fixed Assets:
All equipment with a cost of $5,000 or greater and a useful life of two or more years is considered a fixed asset that will be recorded and tagged by the University for tracking purposes. The Fixed Assets department is responsible for this activity and will record any grant funded equipment that meets these criteria.
A. Gift Property
There are occasions when the University will have the opportunity to receive gifts of property and equipment. Upon learning of the availability of such equipment, a University employee must coordinate such acquisition with the Vice Chancellor for University Advancement and the Vice Chancellor for Business Affairs as described in University Policy 602.2, Solicitation and Acceptance of Gifts.
All assets acquired by the University through gifts bestowed upon UNC Charlotte become University property, and thus, State property. Prior to disposing of any assets, the Surplus Property Office must be notified to secure approval to dispose of the property in any manner other than through a surplus property auction.
B. Grant Property
Purchases of equipment through a grant must be made in compliance with both the State and University established procurement policies and procedures, in addition to any restrictions imposed by the grant agreement. Purchases of equipment must comply with the specific rules and regulations of the granting agency, and if federal funds are involved, the Office of Management and Budget rules governing the expenditure of federal funds. GCA will confirm the grant fund used for the purchase and the proper ownership of the asset.
Occasionally, the grant agreement provides that the sponsor will make a determination about ownership of the equipment either 30, 60, or 90 days prior to the end of the grant award. In those cases, once GCA receives notification from the sponsor about the ownership status of the equipment it will determine whether the asset can follow the standard State disposition process of non-grant related assets.
In some circumstances, the principal investigator of an active grant may transfer to another institution and may be allowed to transfer certain pieces of equipment purchased under the transferring grant. Requests for transfer of grant equipment must be submitted to the Executive Director of Grants & Contracts Administration for coordination with the Materials Management Department and the sponsor of the grant. The University will not release the equipment until approval is secured from the sponsor and all transfer procedures are completed. The process of documenting approval from the sponsor may take up to three months, and the entire transfer process may take up to six months before all approvals are in place. Under no circumstances may equipment be transferred without the express written approval of each of the Office of Grants & Contract Administration, the Materials Management Department, and the State Surplus Property Office.
IV. ROLES AND RESPONSIBILITIES
A. Vice Chancellor for Business Affairs
The Vice Chancellor for Business Affairs is responsible for the acquisition, protection, and disposal of University assets.
B. Purchasing Office
The Purchasing Office is responsible for the acquisition of University assets, analysis of costs associated with the acceptance of certain gifts, and the application of state procurement rules.
C. Office of Grants & Contracts Administration
Grants & Contracts is responsible for confirming the grant fund used for the purchase and the proper ownership of the asset for all acquisitions made using grant funds.
D. Inventory Control
With direction from the Fixed Assets department of the Controller’s Office, Inventory Control is responsible for the physical tagging of University assets as well as performing an annual physical inventory of University assets and documenting any discrepancies.
E. Fixed Assets
The Fixed Assets department of the Controller’s Office, with assistance from Inventory Control, is responsible for the tagging, financial record keeping, and disposition of University assets as well as management of the annual inventory process.
F. State Surplus Property
The North Carolina Surplus Property Office is responsible for the review and approval of all requests to dispose of all assets, including those received through gift or grant, if they are to be disposed in any manner other than through a surplus property auction.
- Initially approved January 14, 1980
- Revised September 27, 2010
- Updated January 31, 2011
- Revised August 28, 2019