The George Washington University

Property Management

Property Management Policies and Procedures

Property Disposition

General Information

Departmental property coordinators are responsible for notifying the University Procurement Office when planning to dispose of property. Departments must obtain approval of University Procurement using a Change in Property Status form PRIOR to disposing of any University property. Change in Property Status forms may be obtained from Property Management.

Departmental property coordinators must immediately report any lost or stolen equipment to Campus Security.

Equipment that is damaged beyond repair, scrapped, deemed obsolete or otherwise destroyed must be reported to the University Procurement Office. When an asset is scheduled for disposal as the result of a condition described above, the following steps must be taken:

  1. The departmental property coordinator must notify the University Procurement Office via the Change in Property form of all property scheduled for disposal.
  2. Prior approval must be received from the University Procurement Office before an asset can leave the recorded location of that asset.
  3. Upon approval, the departmental property coordinator may dispose of the asset following instructions from University Procurement.
  4. Once approved, the University Procurement will forward the Change in Property Status to the Property Management Office which will update the departmental inventory within the Fixed Asset system.

Transfers to Other Institutions

If principal investigators move to another institution and wish to take equipment with them, they must obtain permission from the Office of Sponsored Research for A Funds or from Medical Center Research Administration for B Funds. The departmental property coordinator must complete a Change in Property Status form. The completed form is sent to Grant and Contract Accounting Services or Medical Center Research Administration for approval. After approval, the form is sent to the Property Management Office. Upon receipt of the approved form, the Property Management Office will update the department's property record.

Trade-in of Equipment

When departments trade-in equipment, the Property Management Office must be notified using a Change in Property Status form. Upon notification of the trade-in, the department's property record will be updated to reflect the disposal of property.

Lost and Stolen Property

In the event an asset is lost, the departmental property coordinator should make every effort to locate the item. If the asset cannot be located, the departmental property coordinator must notify the University Security Office and the Property Management Office using the Change in Property Status form. Thirty (30) days after the receipt of the form, the departmental property coordinator will be contacted by the Property Management Office to verify that this status has not changed. (i.e., the item may has not been recovered).

In the event an asset is stolen, it is the responsibility of the departmental property coordinator after notifying the Security Office, to send a copy of the police report along with notification of the theft on a Change in Property Status form to the Property Management Office. Upon receipt of this information, the information will be recorded in the Fixed Asset system and the inventory for the department adjusted accordingly. In the event that the item is recovered, the Property Management Office and the Security Office must also be notified.

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       Last Update : May 1997