Workday is used to report surplus items to the Logistics (Surplus) Procurement & Business Services. A disposal is considered to be the removal of equipment from the custody and accountability of Georgia Tech.

If a Cost Center “disposes” of equipment by providing it for the use of another university or State Agency, this activity is considered to be a transfer, rather than a disposal, of the equipment. Please refer to "equipment transfer within georgia tech" for information regarding the transfer of equipment.

Instructions for completion of the Fabricated Form:

1. Enter the scientific name of the equipment, if applicable. Enter the common name of the equipment. Enter which name should be placed in the description field of the inventory records. This is the name, which will appear on equipment reports to the department.
2. Check if the title to the equipment belongs to the state or another agency.
3. Enter the name and telephone number of the equipment custodian for the Cost Center.
4. Enter the various cost components of the equipment. This includes materials purchased, external labor cost, transportation and any other costs involved. Enter the total cost.
5. Check whether the above costs are for a new item of equipment or is added value (upgrade) to an existing item of equipment.
6. Enter Georgia Tech CAE Tag number of existing equipment if item is an upgrade.
7. If federal funds were involved in the construction of the equipment, the amount must be identified along with the sponsoring agency.
8. Enter the name of the building, the room number and the department, which has physical custody of the equipment.
9. The form must be signed and dated by the Cost Center Head or his/her designee. Also, enter the phone number of the Cost Center Head or designee.
10. Forward completed form with supporting documentation and completed Cost Transfer Form to Property Control via ServiceNow. A Cost Transfer Form must be completed in order to correct the Spend Categories.

Threshold Requirements
In accordance with state & Board of Regents guidelines, the current threshold for which an inventory of an asset is maintained is $3000 with a life expectancy of one or more years. Items which do not meet the current threshold may be maintained on the inventory to meet contractual requirements, or to effect proper management of small and/or unique groups of movable personal property. The following items, are required to be inventory controlled without regard to the $3000 minimum cost:

1. Books and periodicals (Total dollar value shall be capitalized each year)
2. Firearms
3. Vehicles

Property Control Department responsibilities:

1. To be accountable for all equipment under its control as mandated by state and federal regulations. Property Coordinators must complete the “Asset Management for Property Coordinators” training. Click here to learn more.
2. To provide internal control of capital assets, including proof of existence, ownership, location and proper valuation.
3. To provide uniform procedures for furnishing information needed for effective analysis and control of capital expenditures.
4. To provide a database of inventory information to meet equipment management/reporting needs of the Institute.

Unit Head Responsibilities
Colleges and Cost Centers are accountable for all equipment under their control. They have an important role in the maintenance of an accurate, up-to-date inventory system. The custodianship of property purchased by or assigned to a Cost Center is the responsibility of the Cost Center unit head. The responsibility includes ensuring that the physical security is maintained over all property; tagging items valued at $3000 or more; preparing property reports as required; and documenting and reporting all acquisitions, disposals and changes in the status of unit equipment. Fulfillment of these responsibilities on behalf of the Cost Center unit head may be delegated, but the ultimate responsibility remains with the Cost Center unit head. Adherence to the following guidelines helps to ensure that Cost Center inventory records are as accurate and complete as possible.

1. Correct coding of purchase requisitions and purchase orders. Correct coding by Cost Centers during purchase requisition avoids unnecessary and time consuming corrections after receipt of the equipment.
2. Proper coding of capital asset expenditures. Equipment purchases must be coded with a SC714400, SC743XXX, SC744XXX, SC841XXX, SC843XXX expenditure account code. Use of an account code other than these increases the possibility that the asset will be omitted from the inventory records.

Benefits of Inventory Systems
The perpetual inventory system provides the Institute with the following key benefits:

1. Equipment control and accountability through a comprehensive campus-wide inventory system.
2. Improved equipment utilization through control and identification of capital assets.
3. Database to meet Institute, state and federal grant, and audit requirements.
4. Database to meet requirements of proper risk management and provide basis for identifying equipment for the State's self-insurance program.
5. Basis for management to project and budget future capital replacement requirements.

Procedures
The vast majority of capital asset acquisitions are generated by purchase requisition. Colleges and Cost Centers authorize equipment purchases by initiating purchase requisitions through Workday.

When the equipment is received, the Unit's Property Coordinator enters into the web page the pertinent physical asset information including the “Tag Number” in to Workday.

The asset accounting records are selected from the General Ledger based on the spend category. Property Control makes any corrections to an asset record to accurately reflect the description, cost and other pertinent accounting information. Assets, including Federal Surplust items, are recorded at actual cost.

A report of untagged items is extracted by Property Control. If a matching record is not found, Property Control will notify the Unit via e-mail. The Unit will have 5-days to enter the asset information into the Workday. The cycle is repeated again to match newly entered information.

Property Control is responsible for record retention and ensuring that all taggable assets are identified through internal controls.

1. Contact Gift Accounting in the Georgia Tech Office of Development to notify them of the proposed gift. They will guide you through the process to receive the gift. Be aware that they will want to know the nature of the gift, the appraised value of the gift, and any written conditions or provisions, which the donor is attaching to the gift.
2. The Office of Development will notify the Property Control Department when Georgia Tech officially accepts the gift.
3. Once officially accepted, Property Control will register the asset in Workday and enter the required information into the Asset Management System. Once completed, the Property Coodinator for the receiving Cost Center should tag the equipment.  for the receiving unit should tag the equipment item and enter the required information into the Asset Management System.

Individuals who receive college/Cost Center approval to temporarily remove equipment from the campus must complete an Equipment Loan Agreement Form.

Instructions for completion of the form:

1. Print name of person using the equipment.
2. Enter the location (address) where the equipment will be used.
3. Enter the reason for using the equipment off-campus.
4. Enter Georgia Tech tag number.
5. Enter a short description of the asset, including serial number, model and replacement cost.
6. Sign Form and enter telephone number.
7. Enter Employee ID Number.
8. Print Cost Center name and have Dean/Director/Cost Center Head sign and date form. The form should be retained in the unit for audit and insurance recovery purposes. Unit staff should contact Georgia Tech Insurance & Claims Mgt. (4-3483) to obtain information on how to insure the property off-campus.
9. The Cost Center Head or his/her designee (Property Coordinator) must update Workday to indicate that the equipment item(s) with a Georgia Tech asset tag is now off-campus.
10. When the equipment is returned to campus, the Cost Center Head or his/her designee (Property Coordinator) must update Workday to indicate that the equipment item(s) with a Georgia Tech asset tag is no longer off-campus.

If a Cost Center has an equipment theft, the property coordinator should contact the campus police at ext. 4-2500 to obtain a report of the incident prepared by an officer. Upon receipt of the GTPD incident report, the Cost Center Property Coordinator should notify Property Control via ServiceNow in order to retire the stolen equipment in Workday. No further action is required by the department.

The Incident Report filed with the police department must contain the following information:

1. GA Tech asset tag number of the equipment.
2. Serial number and model number of the equipment.
3. Contact person and telephone number.
4. Location (building name and room number of equipment).

A Trade-In Authorization Request, must be completed and forwarded to Purchasing via ServiceNow prior to submitting a requisition when a piece of equipment is to be traded in. Purchasing will forward a copy of the completed form to Property Control for approval. Once approved, the Cost Center will attache the form to the Workday Requisition. No further action is required by the requesting department except to coordinate the transfer of the old item and the receipt of the new item.
Instructions for completion of the form:

1. Enter the name of the Cost Center initiating the trade-in.
2. Enter the Georgia Tech asset tag number of the equipment.
3. Enter a short description of the equipment, the serial number and the model number.
4. Enter the condition of the equipment.
5. Enter the acquisition date and original cost of the equipment, if known.
6. Enter the amount the vendor is deducting from the cost of the new equipment for the equipment traded in.
7. Enter a short description of the equipment being purchased, and the price of the new equipment.
8. Enter the Document Number and Account Number used for the purchase of the new equipment.
9. The form must be signed and dated by the Cost Center Head or his/her designee.
10. Send the completed form to Purchasing via ServiceNow.

If a Cost Center has an item to transfer to another state agency, the property coordinator should follow the procedure listed below to complete the transfer.

1. Submit a written request to  Property Control and Logistics (Surplus) via ServiceNow.
2. The request should describe the equipment, list the tag number and model number and the location (building and room number) of the equipment.
3. The request should state name of state agency to receive the equipment.
4. The request must be approved by the Cost Center Head or his/her designee.

When a request is received that includes all the information noted above, the Manager of the Property Control will coordinate with others at the Institute and the state Department of Administrative Services (DOAS) to facilitate the transfer. Note that approval/contact is required with others at the Institute, DOAS, and the receiving state agency to complete this process. Some time will be required to get all the approvals needed. Once the proper form/authorizations are received from all parties, the transferring Cost Center will receive written authorization from Property Control to complete the transfer.