Asset Management Policy
Sponsor: |
Senior Vice President for Administration and Finance |
|---|---|
Contact: |
Assistant Director of Operations |
Category: |
Administrative |
Number: |
200.013 |
Effective Date: |
07/20/2021 |
Implementation History: |
first draft of policy 7/20/2021, previous drafts printed in a handbook 3/30/2016, last revised in 03/2024 |
Keywords: |
computers, laptops, off campus use, procurement, inventory, assets, capital assets |
Background Information: |
Historical versions of this policy, last revised in 2021, were not official university policy. The 2024 revisions bring the policy up to date and follow the official university procedures for policy creation. |
Purpose
The New York State Government Accountability, Audit and Internal Control Act (ACT) requires that all state agencies institute a formal internal control program. This system of internal controls is designed to ensure that the university and its campuses meet their mission, promote performance leading to the effective accomplishment of goals and objectives, safeguard assets, provide for the accuracy and reliability of financial and other key data, promote operational efficiency and effectiveness, and encourage adherence to applicable laws, regulations and prescribed policies and practices. This policy provides internal controls over the equipment owned by SUNY Empire.
Definitions
Off-campus use (OCU) — items used at locations other than campus locations.
Real Asset Management (RAM) — a data management system used by SUNY to track state-owned equipment of $5,000 and more.
Statements
The goal of the equipment management office (EM) is to provide an accurate accounting of the campus-based inventory of assets and reconciling the campus records with SUNY System Administration’s records. The property control coordinator (PCC) oversees the EM and all functions of the EM.
In compliance with the rules and regulations of the Research Foundation and the State University of New York (SUNY), the EM at SUNY Empire maintains records for certain owned and leased assets. For this purpose, state-owned equipment that cost $5,000 and more (including installation costs) that have a life expectancy of one or more years is tracked in the SUNY controlled Real Asset Management System (RAM) as well as an internal asset database, and asset tags are assigned to them. Though not required by SUNY, SUNY Empire also tracks and tags owned and leased assets that cost $5,000 or less that have a life expectancy of one or more years and are considered high-theft risk. Items valued at less than $5,000 are not typically tracked in RAM, but they are tracked in the internal asset database. The assistant vice president of operations has the authority to make a final determination if an asset should be tagged and tracked. Questions about tagging should be directed to the PCC. Examples of high-theft items tracked and tagged by SUNY Empire include but are not limited to:
- Laptops
- Desktops
- Tablets/iPads
- Cell phones
- Televisions
- Printers
- Grounds Equipment
- Snow blowers
- Lawnmowers
- Gas-powered equipment
Tags are not assigned to building equipment, such as plumbing and electrical systems.
Information tracked—in the internal asset database and RAM—includes the date an asset is purchased, the date the asset is physically present at a SUNY Empire location, the item location and date of any change of location, the title of the employee the item is assigned to, the final disposition of the item, and the reason it is no longer a university asset. Items in RAM are accessible to SUNY for auditing purposes.
Assets that will be removed for use away from a SUNY Empire location (laptops, iPads, etc.) must have an OCU form signed and submitted annually by the employee responsible for the asset (Appendix A). This form confirms responsibility for the item by the person it is assigned to, including the return of the item upon leaving SUNY Empire. The EM will remind each off-campus user to renew the OCU form annually.
When an asset is no longer needed by SUNY Empire or is no longer functional, it is disposed of following SUNY policy and OGS guidelines. The custodian of an asset will inform the PCC that an asset is no longer needed and the reason. The PCC determines the most appropriate form of disposal.
Responsibilities
The EM is responsible for tracking and providing tags for assets at all SUNY Empire locations. Annual physical inventories are performed at all locations to verify accuracy of records.
The PCC is responsible for developing a process so departments can notify the EM if an asset has been purchased that requires tracking and tagging. The PCC must communicate this process and ensure it is clear and easy to follow. This includes coordination of the OCU process and managing the final disposition of all tracked and tagged assets. The PCC is responsible for ensuring physical inventories are performed and that SUNY policy and state regulations are complied with.
The procurement office is responsible for providing the PCC with a report that provides information about purchases of $5,000 and more or other items tracked and tagged as described in this policy. The report can be general, such as an overall report of the total amounts spent through purchase orders and credit cards, or it can be a copy of a purchase order. However, further details must be provided by the procurement office when requested by the PCC. Reports must be provided to the PCC on a regular basis, no less than quarterly.
Access to RAM and the Internal Asset Database
The PCC and assistant vice president of operations must have access to RAM. The PCC may designate one additional equipment management employee to have access to RAM. Access to the internal asset database is dependent on the role of the employee. The PCC, assistant vice president of operations and one employee designated by the PCC shall have full control to enter data, create reports, dispose of equipment, create new data fields, and create and delete asset records. Technical support specialists, facilities administrators, and other department representatives shall have access to the internal asset database to view reports and update locations with the approval of the PCC.
Lost or Stolen Items
Employees who suspect an asset is lost or stolen must notify the Office of Safety and Security and the PCC. The PCC will report any suspected theft or loss of equipment more than $1,000 to the Office of the State Comptroller (OSC) and SUNY System Administration (university controller's office) and document the issue in the internal asset database and RAM, if applicable.
Applicable Legislation and Regulations
SUNY Internal Control Program Guidelines, Document Number 7501
SUNY Property Control System (PCS) Manual, Document Number 7595
OGS Capital Assets Policy and Procedure Manual
Related References, Policies, Procedures, Forms and Appendices
Procedures for tracking and tagging items
When an item requires tracking and tagging, the receiving department submits a New Asset Receipt Form (Appendix B). The PCC will process the form and assign a tag to the asset.
When an item is moved, the department that purchased the item must notify the PCC of the new location through email or ticket, unless the item is under the control of an employee with access to the internal asset database, such as a technical support specialist.
When an item is no longer needed, the PCC is notified by the department using the Asset Surplus Form (Appendix C). The PCC will determine the best way to dispose of the item and coordinate with the item controller.
Procedures for reporting lost or stolen items
Employees may report lost or stolen items by using the incident reporting process. PCC follows SUNY procedures for notification to SUNY System and OSC.
Appendix A: Off-Campus Use Form Off campus use form- fillable
Appendix B: New Asset Receipt Form New asset receipt form- fillable
Appendix C: Asset Surplus Form Asset Surplus Form- fillable