Chapter 7: Movement, Storage, and Maintenance
48 Code of Federal Regulations 45.502, 45.503, 45.505, 45.508, 45.505-1, 45.505-13, 45.506, 45.509 and 45.509-1 Office of Management and Budget Circular A-110
Movement
Accounting Services must receive notification when there is movement of capital equipment. This includes a change from the original location as indicated at acquisition, in addition to any other movement both on campus (change in location) and transfers off-campus (for repair or delivery).
The written documentation should include:
- The name, description, and property tag number of equipment
- Original or current Location
- New Location
- Effective Date
- Responsible Employee
- Reason for Transfer
Off-Campus Movement
When capital equipment is to be moved to an off-campus location, either temporary (repair or modification) or permanent (for delivery to the sponsor or other agency) Accounting Services must be notified prior to physical movement.
Accounting will process the appropriate paperwork required and document the transaction in the financial and equipment records. Capital equipment which is frequently in transit between a campus and an off-campus location is documented as such on the property records.
Storage
It may be necessary to place property in storage. While property is in storage, care should be taken to ensure the method and location of storage is adequate for the type of items being stored and that they are secured in a manner which will prevent loss, damage, or destruction to the property.Capital equipment in storage during physical inventory must be accounted for, or physically verified, during the inventory process. All capital items moved to storage must be reported to Accounting Services (see above, Movement).
Maintenance
General maintenance is required in order to keep the asset in good operational condition and extend its useful life. Calibration is primarily required for testing and measurement equipment and tools which should be performed in accordance with the manufacturer’s specifications.
Records are required to be kept of maintenance performed and deficiencies revealed during periodic inspections for all agency or government-owned equipment.