Property Records

State and University System of Maryland (USM) policies govern the disposal of Towson University property, such as furniture and equipment. The specific procedures and departmental responsibilities for receiving, maintaining and selling, donating, trading or otherwise disposing of TU property are listed below. Employees can request property disposal and moving, as well as report changes to property status through their department's inventory coordinator, which is typically the administrative assistant.

Department Responsibilities

Departments are expected to report changes to Property Records using the Material Management service request, assist in biennial Property Records audits and maintain a record of sensitive equipment with a value of $2,500 to $4,999.99. Sensitive equipment is any desirable item that it adaptable to personal use, and thus susceptible to theft. Examples include televisions, cameras, computers and cell phones. Departments should maintain a list of serial numbers for these items and use the sensitive equipment record form to track their location. Departments must perform and document a complete physical inventory of sensitive equipment at least once every three years.

• How to run the Active Assett Detail Report (PDF).

Property Action	Departmental Responsibilities
Receiving property with a value greater than $500	Apply the official TU, non-capital property label if the item was not already received and tagged by Material Management. Contact Property Records at x4-2175 for labels. Notify Property Records of capital property received without barcode labels. Notify Institutional Advancement of receipt of donated property. Notify Central Receiving when property procured on a purchase order is received directly from a vendor. Log sensitive equipment with a value of $2,500 to $4,999.99 on inventory records .
Reporting stolen or missing property	Report immediately to the University Police. If capital property is involved, submit an MMSR form and indicate the police report number. Update the department's record for sensitive equipment by noting date of theft and police case number.
Disposing of property	Submit an MMSR (departments must not dispose of assets themselves without receiving an exception from Material Management). Remove software and data from computer equipment and Freon from refrigeration equipment. Turn-around time may vary between five and ten working days. After the disposal, update the sensitive equipment record.
Trading in old property	Make a note to indicate trade-in on all purchase document(s), i.e. requisitions and purchase orders. Submit an MMSR for capital property. Include the purchase order number for the new property. Remove property label before property leaves the university by delivery to vendor. Update the sensitive equipment record.
Selling surplus property	If necessary, advertise the sale at the department's expense. Bids must be solicited in a fair and competitive process. Proceeds must be received in the form of a check payable to TU and deposited with the Student & University Billing Office. Submit an MMSR for capital property. Remove property label before property leaves the university. Update the department's sensitive equipment record.
Donating old property to a not-for-profit organization	Complete an MMSR for disposal. In the comments section of the form, provide the name, address, city, state, zip code, telephone number and tax-exempt ID number of the organization. We will prepare a donation receipt and send it to you with further instructions. The donee organization has five to seven working days to remove the property after you have received the donation receipt. Confirm the property tag number and remove property label before property leaves the university. Update the department's sensitive equipment record.
Obtaining surplus property	Material Management maintains a wish list for departments looking for specific surplus items. Before purchasing new office furniture, contact Material Management to determine if they have items that will meet your needs.