The disposition of all University property is regulated by the University Property Management Office. University departmental personnel must notify this office in writing, using Form 601PM, when a disposition of property is to be made. Disposition forms should be completed and signed by the Department Head for the following types of transactions:

a. Reporting lost or stolen property (attach a copy of the Police Report), also notify
the Property Management Office when you receive reimbursement from personal
insurance claims proceeds, along with documentation showing reimbursement to the
University.

b. Requesting Transfer/Loan (identify department, room number, and building in
comments section).

c. Requesting the removal of Surplus/Obsolete property (to be removed from premises).

d. Trade-ins (requires prior approval from the Purchasing Office).

e. Reporting property scrapped/damaged beyond repair (to be removed from premises).

f. Other (explain in comments section).

Except as indicated herein, University equipment may not be removed, transferred, and/or disposed of. Removal of University equipment without approval of the appropriate Vice Chancellor, the Chancellor or his designee may result in the individual being prosecuted for misappropriation of State property and/or larceny.

TRANSFER

Insofar as it is feasible and practical, the Division will transfer property between and among agencies at values it deems reasonable and appropriate. Also, the Division may authorize transfer to be made directly to other units of government and to charitable organizations which are licensed or otherwise meet the requirements for solicitation of funds as set forth under Part 1, Article 3 for Chapter 108 of the General Statutes, provided the property is for the use of and is to be titled in the name of such unit or organization, and provided further; that the property is retained by the unit or organization no less than twelve (12) months before disposal. In making this type of transfer, the price shall be mutually agreeable between the owning agency and the recipient and approved by the Property Management Office/State Surplus Property Agency as being a fair market price based, where possible, on previous sales of similar products.