This includes purchases of components that may be assembled to create an item with a combined value that would exceed $5,000. The individual who purchases the item is responsible for reporting all necessary information to PIM. University Vice Presidents have delegated this authority to the appropriate department head, who will appoint Property Managers. University Vice Presidents are charged with ultimate responsibility for ensuring compliance with the laws regarding equipment inventory. 1, 2005, The University of Alabama threshold set by The Board of Trustees is $5,000 or more. If a piece of equipment was classified as University-Controlled property or University-Owned property at the time it was purchased but later falls under the threshold because the threshold has been raised, then the University-Controlled property or University-Owned property will be removed from the University inventory. Decisions will be made on the most consistent basis possible. Resolution of specific situations where the status of a piece of equipment is questionable as to whether it is “fixed” or “moveable” will be left to the discretion of PIM. Examples of items excluded from University inventory are water heaters, built-in appliances, central air-conditioning systems, boilers/chillers consumable supplies classified as “expense” rather than “equipment” such as glass, cloth, rubber, filament and inflatable products repair and replacement parts tool kits or assortments of small hand tools and toys used for instructional or recreational purpose. Property not subject to inventory control includes categories such as land, buildings, fixed equipment, intangible assets, software, library books, collections, mounted audio visual systems, modular and/or mounted furniture, access control equipment, servers, blades, and switches. An identity not altered materially through useĮxamples of property subject to inventory control would typically include office equipment, audio visual items that are separate from a mounted/complete system, lab equipment, scientific equipment, tools and machinery, recreation equipment, kitchen equipment, maintenance/janitorial equipment, vehicles, and other general furniture and equipment, that is moveable.Have an acquisition value of $5,000 or greater.Have a life expectancy of one (1) year or more.Moveable (not permanently affixed to a building or structure).Property subject to inventory control should satisfy the following requirements in order to be included: Threshold and Inventory Control Requirements Equipment purchased by related foundations for use by the University. Equipment donated or transferred to the University by external entities, and.Equipment purchased from any University fund, including grant, state, or gift funds,.This policy is applicable to all equipment purchases, regardless of the funding source, including but not limited to the following: PIM is also responsible for providing a public record of state or federal property, as specified in Federal Acquisition Regulation (FAR), Part 45, "Government Property" Title 2, Code of Federal Regulations (CFR), Chapter II, Part 200. The University of Alabama’s Property and Inventory Management (PIM) Department is responsible for ensuring that adequate accountability systems are established and administered for University and sponsoring agency equipment. This policy is intended to provide guidance for identifying, controlling, disposal, and assigning responsibility for University property. Title: Director of Logistics and Support Services
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