Property Accounting

The Property Accounting Office is a department in Financial Services within Administration & Finance.

Property Accounting is responsible for centralized maintenance of property records, including acquisition, control, and disposal of equipment for the University. An ID tagging process is used to identify and track all equipment and a system of regular physical inventories is maintained in order to ensure accountability of all state-owned equipment. The Property Office works closely with the Property Survey Board and Surplus Property to authorize and document the disposal of equipment.

Equipment is defined as merchandise that: (1) has a life greater than one year, (2) can be physically relocated, (3) is not expendable (e.g. office supplies), and (4) is not furniture. Departments must maintain a tracking mechanism for their equipment and must notify the Property Office of any physical relocations of the equipment.