Procedure for Transferring Equipment/Assets

from

The University of Michigan to Other Institutions

1. Contact Mark Comstock or Fred Stauch at the Property Control Office (764-6251). He will send a packet of information detailing the steps necessary for completion of the equipment transfer. The forms will require a 3D (Dean, Director, or Department Head) signature. (You may also access these forms on his web-page: www.umich.edu/~ofa/propertycontrol/)

2. Complete the required information and return to Property Control at 2054 Wolverine Tower, Box 1273 (Please call number above if you have any questions).

3. Property Control will qualify all items on your list and separate the assets that are on grants/contracts from those owned by the university. They will work with your department until these issues are resolved.

4(a). Assets not Owned by UM: If any items are contract or grant owned, and once Property Control approves the the paperwork, he will then contact the DRDA office for their verification of the grant or contract transfer. Property Control will then write-up the transfer and forward to the Director at Financial Analysis for approval. Once approved, Property Control will pull the tags from the equipment and send the final (approved) packet to the department.

The department can then ship the equipment to the receiving institution. Once the receiving institution signs off having received the equipment, the assets will then be officially retired and removed from UM inventory.

4(b). Assets Owned by UM: If any items are UM property, then the department must declare in writing (a letter addressed to Mark Comstock, 2054 Wolverine Tower, post box 1273), with a 3D signature, that the assets are officially surplus and can be transferred. Mark will then ask that the department notify Property Disposition (764-2470), to get pricing on the items. Property Control will fax Property Disposition a listing of the original purchase prices of these assets and their acquisition dates. Property Disposition will price only those assets that are itemized on a ‘Declaration of Surplus’ form. This formed can be obtained from their website www.umich.edu/~ofa/PropDisp/index.html or the SPG(Standard Practice Guide) section 520.1. Property Disposition will then fax back a copy of your Declaration of Surplus form with prices indicating the value of the item. If the purchasing institution decides against purchasing some of the items after they are priced, then the department must eliminate these items from the final Declaration of Surplus form. Along with this final, signed, Declaration of Surplus form, Property Disposition will need, prior to removal:

1. The purchasing institution, full address, phone, contact name
2. Name of transferring faculty or staff member, address and phone #
3. Timetable of the equipment transfer
4. A certified or cashier’s check from the buying institution for the amount indicated by Property Disposition. ( Alternative methods of payment would include a valid credit card or a P.O. number from the purchasing institution).
5. If the purchasing institution is tax-exempt, then Property Disposition will require a copy of their tax-exempt certificate with ID number.

Once Property Disposition receives these items, then they will write a sales receipt and mail a copy to the contact at the purchasing institution, the selling department, and the Property Control Office. Please note that the sale is only complete after Property Disposition writes a sales receipt.

 

REMINDERS FOR UM DEPARTMENTS:

. It is the responsibility of each department to have OSEH (764-6200) de-certify all radiation equipment prior to this process.

. Property Disposition will notify OSEH (764-6200) as to the buyer of all radiation equipment.

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*Please click the link below to go to Property Disposition’s Standard Practice Guide (520.1)

Standard Practice Guide

General questions including in stock items: property.disposition@umich.edu

*Back to the Department Info Page

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This page was last modified March 16, 2007