If an item is missing, it should be noted as missing on the inventory worksheet. The Property Management Office will note on the updated inventory, those items missing. If the missing items are not located by the next annual inventory, a police report must be completed and a copy forwarded to the Property Management Office to remove missing items from the departmental inventory. Upon receipt of such notification, the Property Management Office will in turn notify the respective Dean, Chairperson and/or Department Head of the missing asset(s).

LOST/STOLEN PROPERTY

The loss or theft of any property whether grant, federal or University acquired must be accounted for. According to G.S. 114.15.1, if any state property is stolen or subject to arson or vandalism or other misuse, the employee discovering it must immediately report it to his/her supervisor, who shall in turn report such information or evidence to the head of the respective department. This is to be done as soon as possible, but no later than twenty-four (24) hours after discovery.  When property becomes lost/stolen, every effort must be made to locate it immediately and restore it to the possession of the accountable department. If the property item cannot be located, the Department Head must inform the Property Management Office and University Police Department as soon as possible, but not later than twenty-four (24) hours after receipt of the information. The head of the department shall upon receiving such information and verifying it is lost or stolen or subject to vandalism, arson or other misuse;  shall report it immediately to the Office of the Vice Chancellor for Business and Finance.  The Office of the Vice Chancellor for Business and Finance will report such information within a reasonable time (not to exceed 10 days from the date the loss or theft was reported) in writing to the Director of the State Bureau of Investigation.  

Upon receipt of notification from the Department Head, the Property Management Office will send a letter of acknowledgement along with Form 601PM(Request for Property Disposition Form) to the sender. The University Police Department will also receive a copy of the letter of acknowledgement.

Such reports must provide at least the following information:

• a. Identification of property
• b. Location of item when last seen
• c. Facts and findings related to loss or theft
• d. Value of equipment

The University Police Department must submit a copy of the Police Report to the Property Management Office within three (3) days after completion of the report. Each month, the Property Management Office generates a report of lost/stolen property for the previous month. This report is forwarded to the Vice Chancellor for Business and Finance and copies are sent to the Assistant Vice Chancellor of Business and Finance/Business Manager, Divisions Heads and Department Heads of all departments with items lost/stolen for the previous month. After all parties have been notified, the Fixed Asset System is updated to reflect all changes.

If an item is recovered, the University Police will contact the Property Management Office, who in turn will contact the department who owned the equipment initially. The items are returned and the fixed assets records are adjusted as necessary.

When property becomes lost, stolen, or subject to arson or vandolism while in the personal possession of a University employee, and the employee receives reimbursement from personal insurance claims, the Property Management Office must be informed immediately of such reimbursement so that the records may be updated accordingly. The recipient of such reimbursement must simultaneously deposit with the University Treasurer, the entire amount of the reimbursement so it may be credited back to the appropriate University account(s).