As part of an individual’s academic or administrative appointment, certain University assets are put in the care and control of the individual in order to perform their required duties.  Common examples include:

• Furniture and equipment provided by the faculty or department in the individual’s office or workspace such as desk, chair, computer, phone, calculator, etc.
• Furniture and equipment purchased with the individual’s accountable professional expense account which may be located at the University, at the individual’s residence or other location.
• Furniture and equipment provided by the faculty or department or purchased with research funds to perform research on campus or off campus.

The University holds the title to all assets purchased with University funds as explained in policy 30.75.  When an individual’s employment with the University ceases, the care and custody of all assets in the individual’s possession must be returned to the University.  The general rule is that any assets purchased from University funds of any type belong to the University and must remain at or be returned to the University when employment ceases, unless special arrangements are appropriate.  Exceptions are as follows:

1.  Assets purchased with operating funds

If an individual wishes to have possession of any University asset purchased with operating funds, s/he may request from the Dean, Director, or equivalent permission to purchase such asset at fair market value.  The Dean, Director or equivalent will determine if it is in the best interests of the University to sell the asset.  If the asset is a computer and was purchased under the Evergreen program, approval to sell the asset would also be required from Information Services.  If it is decided to sell an asset, the individual will arrange to have the asset appraised for fair market value through Supple Management Services.  Supply Management Services will notify Financial Services of the assets disposed of and will provide the proceeds to Financial Services to be deposited to the credit of the faculty or department.

2.  Assets purchased with research funds

Assets purchased with research funds are treated the same as item 1. above with the additional provision that the removal of any asset from the University must also receive approval from the Dean of Graduate Studies and Research.  If required by a granting agency, assets may be transferred to another educational institution for the individual to continue his/her research.

3.  Assets purchased with funds from accountable professional expense accounts (APEA)

Policy 30.15.05 Assignment of Accountable Professional Expense Account Toward Computer Purchase describes the process of purchasing a computer using APEA funds.

The title to all physical items purchased from APEA funds rests with the University, including research equipment, furniture, computer equipment and peripherals, books, etc.  All such items are to remain in the faculty or department in which the individual resided.  If an individual wishes to personally purchase any assets which were originally purchased with APEA funds, s/he may do so for fair market value.  If it is decided to sell an asset, the individual will arrange to have the asset appraised for fair market value through Supply Management Services.  Supply Management Services will notify Financial Services of the assets disposed of and will provide the proceeds to Financial Services to be deposited to the credit of the faculty or department.

For computers and peripheral equipment purchased with APEA funds, fair market values can be obtained from Supply Management Services.  Note that for the purposes of this policy pertaining to individuals leaving the employ of the University, the fair market value of computers and peripheral equipment purchased with APEA funds is deemed to be nil four years after the original purchase date from APEA funds.