Assets can be acquired through a variety of methods, including purchase order, donation and patents. The only credit card purchases allowed are those made with the explicit permission from the University's Procurement Card Administrator.
The University's Property Administration Policy requires that all tangible assets with an acquisition cost of $1000 or more receive a property label. In addition, any asset with an acquisition cost of less than $1000 and a high propensity for theft should also receive a property label.
Once the item has been delivered and accepted by the department, the appropriate departmental representative needs to receive this order in the University's financial system. Once this is done a representative from the Environmental Health and Safety Office will be making arrangements to record the identifying information from and apply a University property label to the asset.
The donation of a tangible asset is referred to a Gift-in-Kind. The donor needs to contact the University’s Development Office to make arrangements for the University to accept this gift.
Patents and other intangible assets
The University's Office of Sponsored Programs and Research Services (OSP) acts as the point of academic coordination for the submission of proposals for research support, acceptance of awards, administration of internal funding of research, coordination of University research and technology development and more.