Resource for Boulder Campus Property Managers

Time to get the training started again!

DPM Session 1 & Launch of Buff Surplus Website for CU Boulder Campus

February 24, 2017 from 9:00-Noon in ARCE 620! To register email property@colorado.edu with your contact info and employee ID.

Managing capital equipment (purchased or fabricated items costing at least $5,000) on campus sounds simple, you buy it, tag it, inventory it every 2 years, and when done with it . . . you either dispose of it or donate it.  Straightforward on the surface but let’s dive a little deeper and see if the simplicity holds.

Purchasing an item leads to who owns it?  The owner of the item depends on the source of the funds, if general funds are used, the owner is actually the State of Colorado – not the PI, department, or CU.  The state has delegated CU to watch over its interests and follow guidelines for the use, maintenance, and disposal of the items.  If sponsor funds are used to purchase the item (even if less than half the purchase price) then the sponsor, per their funding agreement, controls the use and disposal of the item.  OCG’s Compliance Team is your best resource in understanding sponsor rights.

Let’s skip now to the time at the end when your department no longer needs the item.  All items must go through a “surplusing” process which starts with contacting property@colorado.edu because there are some “cannots” we want to avoid. 

A department:

  • Cannot give/sell the item to faculty/staff. CU holds auctions to provide equal opportunity to purchase an item.
  • Cannot give/sell directly to a company/person/charity.(see above)
  • Cannot allow a transferring PI to take an item without permission from CU and acceptance of the item from the receiving institution.Legally, CU transfers the item to the receiving institution not the PI.

If sponsor funding is involved, the surplusing process requires following contract guidelines within the funding agreement and approval from OCG Compliance; you can start with property@colorado.edu and we will move you through the process.

For staff with involved with equipment (capital & non-capital) we have 2 events coming up you will not want to miss:

DPM Session 1 & Launch of Buff Surplus Website for CU Boulder Campus

February 24, 2017 from 9:00-Noon in ARCE 620!

  • 9 – 10:15 am Overview of an exciting new tool for Boulder Campus.  Even certified DPMs should come to this section to learn how to save money or storage space for your department using this tool.
    • Buff Surplus helps facilitate the exchange and re-use of surplus property between campus departments. By using this site you are helping save funding, reduce waste on campus, maximize property utilization and avoid premature property disposal items.  This website is a joint effort between 8 departments on campus.
  • 10:15 – 10:30 Break
  • 10:30 – Noon  DPM Session 1 Led by CCO’s Debt & Asset Management (DAM) Team
    • For certified DPMs we will start by showing the latest queries and PSAM database tools to help you manage your inventory and review your depreciation/net book value.  (Approx. 15 mins.)
    • Session 1 will cover guidelines and best practices relating to purchasing, tagging, inventorying, updating location, transfer, and surplusing capital equipment ($5,000+).

Purchasing/Receiving Capital Equipment

Tracking/Maintenance of Tagged Equipment

  • Cannibalization is when a dept disassembles a tag and uses the pieces for other uses.

  • Impaired: Equipment no longer used for intended purpose due to reduced functionality.

Office of Contracts & Grants

  • Forms Link takes you to OCG's webpage for property.

Property Disposal/Transfers/Donations off campus

Would you like 'read only' access to PeopleSoft Asset Management?

PSAM allows you to query your departmental assets to review their tag#, location, funding source, responsible person, etc. It's a great way to manage your assets and reduce your biennial inventory headaches. Contact Jeanne @ 2-2424 to get you started.