Asset Management

Asset/Property Management

USF System Policy 5-014 Asset/Property Management states, "All USF System property must be physically inventoried annually. Property must also be inventoried upon change of accountable officer and/or physical location. It is the accountable officer's responsibility to maintain definitive control over all equipment listed on his/her inventory."

UCO Asset Management Services Procedures and Forms Section V, subparagraph D, states the Accountable Officer is responsible for submitting the proper forms associated with the unscanned assets. At the end of the yearly inventory cycle, all unresolved property will be reported to USF administration and state/federal auditors, if requested. This data is also considered public record in the State of Florida.

The University of South Florida Asset Management Department website lists information pertaining to the inventory, transfer, and disposal of property. The USF Asset Management Department performs an annual inventory of all property valued at $5,000 or more. Per the above USF System Policy, the accountable officer/ Department Chair or official designee is responsible for assisting the Property Control Specialist in finding all unscanned items. These are items not found during the inventory process. If the items are not found, the proper completed form with appropriate signatures needs to be filed with Asset Management Services. See below for more information on forms.

Also per the above USF System Policy, upon change of the accountable officer/ Department Chair, all assets over $5,000 must be inventoried and accounted for before the officer/Chair leaves the position. The accountable officer/chair additionally is responsible for insuring the paperwork is filed for items that are off campus or change location on campus.

The accountable officer or their designee will also assist the Asset Management Department in locating recent purchases over $5,000 so a bar code can be attached to the item.

The CASDO Facility Managers will act as a liaison between the departments, and Asset Management Services.

Asset Management Forms and Processes

A. Items broken, obsolete, donated, trade-ins, cannibalized, surplused/salvaged require a four step process to remove them from inventory.

  1. The Department must file a USF Form #3008 with Asset Management, and the form must be approved by the Asset Review Board before salvage of the item.
  2. The Asset Management Review Board will return the form to the Department with a RFPA#. Then the equipment can be released for salvage.
  3. The Department must return the Form #3008 to Asset Management signed by a departmental representative that witnessed the equipment salvage. Otherwise the equipment will not be removed from inventory, and it will show up on the unscanned inventory the following year.
  4. The salvage company removing the equipment will provide USF with a Certificate of Disposal.

B. Items not found or stolen require the Department to file A USF Form #3008 and #3008 Supplemental with Asset Management Services. If the item is stolen USF police must also be contacted, and a police report filed.

C. Items moved to new locations or transferred between USF entities require a completed USF Form #3009 be filed with Asset Management.

D. Items located off campus require an Off Campus Permit, USF Form #6028

E. Items manufactured or assembled at USF require a report of item expense USF Form #3069. This form is used for items built by a researcher, and contains components valued over $5,000.