Dispose of Equipment
Disposition of equipment is the process of officially de-activating a University asset record and occurs when an asset is scrapped, sold, lost, stolen, traded in, transferred, returned to the vendor, dismantled, or otherwise made unavailable to the University.
Disposition of an asset is an accounting process.
Physical removal must be coordinated with Campus Planning Operations and Environmental Health & Safety.
Stolen property must be immediately reported to the Boston University Police Department, Risk Management, and Property Management.
Equipment custodians are responsible for notifying the Department Property Administrator (DPA) when equipment needs to be disposed of. The DPA is responsible for and should initiate the University’s disposal process via the Moveable Capital Equipment Management Form.
All dispositions require the completion of a Moveable Capital Equipment Management Form. The form must be completed and signed by the custodian of the equipment, approved by the dean, department chair, or unit head, and forwarded to Property Management prior to any equipment disposal.
*Please Note: The Moveable Capital Equipment form must be downloaded to your computer and opened through the downloaded Adobe File on your computer to enable the fillable sections and electronic signature*
Additional approvals may be required based who holds title to the equipment and on the method of disposition. Equipment sales and transfers require additional approvals.
Equipment title refers to the owner of the equipment and is a key factor in determining the method of disposition. Equipment at Boston University can be owned by BU, a sponsor, a vendor, or another institution. Restrictions are placed on a considerable amount of the equipment in the custody of the University. Appropriate care must be taken to ensure that no equipment owned by others is disposed of without prior authorization. The title to moveable capital equipment is recorded within the Asset Accounting Module. Notifying Property Management and determining the equipment’s title is required prior to disposition. This information is used to determine the original purchase method and the appropriate disposal process to follow. These procedures are in place to ensure accurate accounting records, precise financial reporting, and compliance with sponsors and government agencies.