Transfer & Disposition of Assets

Transfer Alternatives

1. Transfer of equipment from a division or department, for a period less than one week, can be completed on the authority of a Dean, Director, or Designee.
2. Physical removal from one location to another for a period greater than one week requires an Equipment/Asset Disposition Form, completed with the appropriate signatures, be submitted to the Business Office.
3. The Controller or their Designee will make the necessary changes on the Master Capital Asset Schedule records for items with a value of $5,000 (capital) or more.
4. All NPC equipment used in other than NPC facilities must be accounted for at the end of each school year by the appropriate Dean or Director.

Disposition Alternatives

Assets that have reached the end of their useful life at the institution may be:

1. Transferred to another "public entity" or "political subdivision;"
2. Sent to a landfill;
3. Sold to the public or in an auction;
4. Parted-out; or
5. Traded-in.

All asset transfer and disposition alternatives require the authorization of the appropriate Dean, Director, or Designee on an Equipment/Asset Disposition Form. The Business Office will provide the Dean, Director, or Designee with a response to the Disposition request within 30 days.

Grant assets must follow this procedure and require additional approval from the Grant Administrator and Funding Agency to ensure that all funder requirements are fulfilled. This includes contacting the funding agency for particular disposition or transfer requirements prior to disposal for written authorization.