Approved by Cabinet
Property Management Office, 607-436-2621 or 3232
Business and Finance Policies
The campus Property Management Office is assigned the task of administering the Property Control System (PCS) and ensuring that the campus meets State and Research Foundation requirements for appropriate stewardship of covered assets.
The fundamental objective of the State University’s (SUNY) Property Control System (PCS) is to facilitate proper and timely reporting of equipment transactions and safeguard against loss.
Applicability of the Policy
This policy applies to all SUNY Oneonta and State University Research Foundation Owned Equipment. According to the SUNY Property Control System Manual, “for State-owned equipment below the $5000 University capitalization threshold, campuses are not required to assign inventory tags to these assets but are responsible for assigning an ownership tag.” (Section 1.A). However, Property Management may choose to place inventory tags on items under the $5000 threshold on equipment deemed of particular importance to the campus.
It should be understood that the inventory threshold does not relieve us of our responsibility to safeguard assets regardless of their value. Departments should make every effort to be good stewards of State-owned equipment within their jurisdiction.
The PCS Manual outlines the criteria for including property and equipment in PCS, as well as tagging, inventory, and property disposal procedures and requirements. Procedures for entering data in PCS, PCS data field definitions, and PCS processing and reporting functions are also addressed.
PCS includes equipment owned by SUNY or State University Research Foundation (RF). It is also used for tracking equipment in certain cases where neither SUNY nor RF has the title but does have stewardship responsibilities. Financial information for land, buildings, and site improvements are maintained under systems and procedures outside the scope of PCS.
SUNY System Administration is responsible for the maintenance of PCS and for establishing policies and procedures pertaining to the property management. Each SUNY campus appoints a Property Control Coordinator (PCC) to record and track property in PCS. The coordinator ensures property is tagged, physical inventories are performed, and the information is maintained on a timely and accurate basis.
Movable and vulnerable: Items that are not physically attached to buildings or otherwise wired, plumbed, networked or secured in a way that would make removal unreasonably difficult or easily noted.
Life expectancy: The reasonable duration of an item’s use in service.
Value: An item’s original procurement cost.
Equipment Deemed of Particular Importance: Some equipment below the $5000 threshold may constitute a legal or safety liability for the College and may also represent an unusually attractive opportunity for theft, and will, therefore, be inventoried accordingly.
Effective July 15, 2016:
- All state-owned equipment that is movable and vulnerable to theft or loss, valued at $5000 or above, with a life expectancy of greater than one year, will be assigned an inventory tag by the Property Management office and will be recorded in the PCS. Property Management will review State and Research Foundation purchase orders to identify equipment that will require an inventory tag. These items will be added to the PCS and an asset decal will be affixed to the item within fifteen business days of notification to Property Management that equipment has been received by a department.
- For items under the $5000 threshold, the property management office will distribute ownership tags based on purchase orders. It is the ordering department’s responsibility to tag new equipment and remain accountable for its security. It is strongly recommended that an inventory of equipment be kept at the departmental level.
- Property Management may choose to place inventory tags on items under the $5000 threshold on equipment deemed of particular importance to the campus.
- Spot checks of equipment at and below the $5000 threshold will be done regularly throughout the academic year. Departments should be prepared to provide visual proof that items are accessible or have been disposed of properly according to SUNY guidelines. See the SUNY Property Control System Manual, Section 1. A part 2.
- For the annual inventory beginning February 2017, departments will be provided a report for verification that includes equipment that meets the $5000 and above the threshold.
- Any lost or stolen equipment must be reported by the department to University Police and Property Management as soon as its loss is confirmed.
- All authorizations for equipment to be used off-campus will be managed and tracked at the department level with an Off-Campus-Use form. Current authorizations must be available for review by the Property Management staff during spot checks.
This system of property management allows departments to better monitor the use and movement of equipment purchased by their respective offices. It also provides the campus with a tool to ensure that State- and Research Foundation-owned equipment is tracked properly and applies consideration of the fiscal responsibility to the campus in maintaining accurate and timely inventory reporting. Further, the practice of conducting spot checks will ensure that internal controls over equipment remain effective under this model.
The College will continue to follow SUNY Procedure as defined in the PCS Manual and carried out by our sister institutions.