Procedure for Transfer of Surplus Assets

Approval Date: 2017-05-11

Effective Date: 2017-06-01

Responsible Unit: Department of Facilities Management

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1. Where a Surplus Asset is being transferred to another University Unit, and that Surplus Asset is listed on the University’s Tangible Capital Asset Inventory Listing, the Unit must complete a Tangible Capital Asset Transfer Change Delete Form, and submit it to FAS so that the custody and location of the Tangible Asset may be updated.

2. The Asset Administrator is responsible for ensuring that a Surplus Asset containing University information or Memorial–licensed software has that University information and software removed when the Surplus Asset is transferred, in accordance with the Data Removal, Information Management and Privacy policies and related procedures.

3. If research equipment is to be transferred by the grantee to another university, then the grantee obtains approval from the granting agency, if required, and final approval from the Vice-President (Research) on recommendation from the grantee's Dean or Director. The Asset Administrator then completes a Tangible Capital Asset Transfer Change Delete Form and submits it to FAS so that the external transfer may be recorded.

Policies using this procedure:

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Tel: (709) 864-2530

Fax: (709) 864-2552

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