Property Control Policy & Procedure

All property acquired by the College whether through procurement, donation, or fabrication is considered the property of the State of New York. The Research Foundation for the State University of New York holds title to all RF property. Property of other entities (e.g. the Childcare Center, College Auxiliary Services, or the Student Association) is not subject to this policy.

In order to facilitate the effective management of property and ensure reasonable internal controls, the College has developed the following property classification system:

• Property: Any tangible, personal (as opposed to real) property acquired by the College or by the Research Foundation whether through procurement, donation, or fabrication. Property includes Items of Supply and Equipment.
  • Items of Supply: Any Property that is not Equipment.
  • Equipment (Asset): Any Property of a durable nature with an expected life of more than one year that is not consumed in the course of use. Equipment includes RAMI Assets, High-Risk Assets, and Low-Risk Assets.
    • High-Risk Asset: Any Equipment with an original cost of less than $5,000 and deemed to be high risk due to being highly desirable AND easily taken without permission.
    • Low-Risk Asset: Any Equipment with an original cost of less than $5,000 that is not a High-Risk Asset.
    • Real Asset Management Information System (“RAMI”) Asset: Any Equipment with an original cost of $5,000 or more excluding antiques/works of art.

While all Property regardless of classification must comply with general property control expectations (see below), the College has developed specific procedures to mitigate risk of loss or misuse for Property of greatest risk (i.e. RAMI Assets and High-Risk Assets). A summary of the College’s property control classifications and requirements is shown below.

General Expectations

Regardless of classification, the following general expectations govern all Property.

• Property must be acquired in accordance with applicable College and RF policies
  • All Property must be purchased in accordance with SUNY’s Purchasing and Contracting Policy and College Purchasing Policies (See Appendix)
  • Donations of Property to the College must conform with the College’s Acceptance of Gifts in Kind Policy (See Appendix).
• Property may only be used for legitimate College or RF business
  • Consistent with longstanding New York State Policy, all College Property and resources, including, but not limited to, campus letterhead, college dumpsters, computers, fax machines, office supplies, postage, photocopying machines, telephones, and washers and dryers, is the property of the State and may not be used for non-state purposes (whether personal or for the benefit of other entities). Removal of items from the dumpster is also prohibited.
• Employees are expected to exercise reasonable oversight of Property
  • Each employee has a general obligation to safeguard and make appropriate use of College and RF Property. This obligation includes but is not limited to:
    • Exercising reasonable care in use to prevent damage and maintain good condition
    • Exercising reasonable security measures to prevent theft or misuse
    • Reporting lost or stolen Property to University Police
    • Notifying their department’s Equipment Coordinator of any potential acquisition, relocation or disposal of High-Risk Assets and RAMI Assets before it occurs
    • Notifying their department’s Equipment Coordinator of any Property that is not being used or reasonably anticipated to be used so that it can be transferred to another department or disposed.
    • Refraining from relocating Equipment off campus without prior authorization from the Vice President for Administration and Finance or Designee
• Property must be disposed of in accordance with applicable College and RF policies
  • New York State only permits Property to be disposed of in one of four ways:
    • Trade-in
    • Transfer to other State Agency
    • Sold through the New York State Office of General Services
    • Discarded
  • New York State does not permit the donation of College Property for personal purposes nor selling Property directly to third parties.
  • RF Property should be disposed of in accordance with RF Procedures.

In addition to these general principles, it is expected that employees will comply with any specific procedures outlined in Section 7.0.