Equipment and Furnishings

Definitions

Capital Equipment and Furnishings are consider to be items that possess the following characteristics:

  • Life expectancy under normal use of greater than one year
  • Identity which doesn’t change with use
  • Usually repaired when damaged, not replaced
  • Original unit or system cost or fair market value of $5,000 or more

Non-Capital/Attractive Equipment and Furnishings are considered to be items that possess the same characteristics as capital with the following exceptions:

  • Original unit or system cost or fair market value of more than $1,000 but less than $5,000
  • All computers or Lifecycle assets regardless of cost

Ownership and Responsibility

Anything purchased with or reimbursed from University funds is the property of the University of Lethbridge.

All equipment, furnishings, materials and supplies purchased or reimbursed through the University of Lethbridge, for any purpose from University funds, which include all capital, carryover, donated, operating, overhead, professional supplement and research grants or other trust funds administered by the University, unless otherwise stated in the terms and conditions of the trust agreement, are property of the University of Lethbridge. Individuals who purchase assets through professional supplement or research grants will be responsible for the equipment. Otherwise, the one who is ultimately responsible for the equipment is the Dean or Executive Director for the Faculty or Department. However, through the power of delegation of authority this responsibility can be passed down.

Deans, Executive Directors, Department Heads or their designates are responsible for the care, custody and control of all departmental assets, as well as those on loan to us and the periodic verification of assets by way of departmental equipment reviews.

Asset Disposition

Equipment, which is worn out, obsolete or no longer required may be traded in on new equipment or disposed of as surplus. When an item becomes surplus to a department's requirements, the department must complete an "Equipment and Furnishings Declaration" Form, available through Financial Services. When completing the Equipment and Furnishing Declaration Form, please make sure the following is completed:

  • Bar Code number (if available) use the serial number if the bar code is not available
  • Description
  • Reason for Disposal
  • Value of Item (if available)
  • Detailed Condition
  • Any additional information that would assist in the proper disposal of the items.

Trade-ins are to be handled as above and a copy of the paperwork must be included with the online purchase requisition of the item it is being traded against.

** Please note, on all computers slated for transfer or disposal, the hard drive should have all information removed.

The Declaration Form should be forwarded to the authority concerned for approval, then forwarded to Financial Services. The approved Declaration Form will be authorization for the removal of the item to the appropriate storage area.

Periodically, usable surplus equipment and materials may be listed on the Notice Board for circulation to University departments.

Surplus equipment or material not circulated on campus shall be disposed of by any of the following methods as determined by the Materials Management Department.

  • Sale through notice board advertisement.
  • Sale through a local licensed auction firm.
  • Donation to other public institutions.
  • Recycle or Dispose of items that have no saleable or usable value.

In the event of a shortage in space and/or time requirements Materials Management will dispose of surplus equipment in the most effective means available. Time restrictions for the sale of Surplus Equipment may be enforced in order to utilize University resources in the most effective way. Every effort should be made by the appropriate department to suggest a reasonable sale value of the surplus equipment. Materials Management may recommend pricing for Surplus Sales in order to expedite the movement of the equipment. In the event that no interest has been received for certain equipment Materials Management will have the final decision on storage or disposition and will notify the appropriate department of the decision. Departments should take this into consideration when requesting disposition by public means (ie. Notice Board, Donations or Licensed Auction).

If there are any questions regarding the disposal of surplus equipment or materials, please contact Materials Management at 329-2411, or by e-mail.