Reporting Transfer or Movement of Property

Official university administrative policy

Policy Information

Reporting Transfer or Movement of Property

Effective

Number

INV 3 00

Applicability

This policy applies to University Administrators Faculty and Staff

Administrative Authority

Vice President for Finance and Chief Financial Officer

Responsible Unit

Purchasing/Inventory Control & Surplus Property
Surplus/Inventory Control Building, University of Louisville
Louisville, KY 40292
502-852-8216
inventorycontrol@exchange.louisville.edu


History

Original Date: Unknown
Revision Date(s): September 27, 2018; February 25, 2020
Reviewed Date(s): September 27, 2018; February 25, 2020; May 2, 2023


Categories

Statement

Transfer or movement of equipment may not be made beyond the confines of the university until authorized by cognizant authority. Internal transfer of property between departments may be authorized by deans, directors, and department heads. The Inventory Control office must be notified of all transfer or movement of property with a value $1,000 or more.

Related Information

The Surplus Warehouse is open for department selection on Wednesdays only, except when preparing for an auction. The Surplus Warehouse is located at 1901 S. Floyd Street on Belknap Campus. The warehouse is open from 7:30 am to noon and 1 pm to 3:30 pm. Surplus items may be brought in or removed any day of the week.

There is no charge to the department to reserve an item for departmental use. Reserved items should be removed within two weeks or items will be made available to others. If you want Physical Plant labor to deliver your reserved item, the department must complete the Physical Plant Chargeable Service Request form. Physical Plant will bill the department for its services.

Surplus items are not for personal use or sale.

Definitions

Property - An item of movable tangible personal property, which has a cost or value of $1,000 or more, a useful life of more than one year and which retains its identity as a separate and identifiable item.