Frequently Asked Questions (FAQs)

Property Management FAQs

The Property  Team is responsible for the management of moveable capital equipment at Boston University.

What is moveable capital equipment?

Moveable Capital equipment  is defined as an article of non-expendable tangible property (e.g., automobile, centrifuge, microscope, projector, network server) that meets the following capitalization criteria; purchased item has a useful life of one year or greater, a cost of  $5,000 or greater, including delivery and installation costs, and including the cost of attachments required to operate the item when those attachments are acquired as part of the original equipment purchase, and Boston University has title to, is the custodian of, or is held responsible to account for the item.

Equipment orders that meet the criteria above but are installed as part of building infrastructure is classed as non-moveable capital  equipment.

 

Why does the University track moveable capital equipment?

Moveable capital equipment is recorded in the University financial system as a business asset.

 

Why does the capital equipment have to be tagged on the front?

The front of the equipment is tagged to easily be visible by Property Management and custodians of the equipment. It also displays that the equipment belongs to Boston University. Additionally, a tag on the front of the equipment allows for a quick inventory of the item and a minimal disturbance to the equipment or its users.

 

What happens if a tag is removed from my equipment?

If a tag is removed, falls off, or is damaged, please contact Property Management with the model number, serial number, and brief description of the equipment. Property Management will make arrangements to physically tag the equipment with a new tag.

 

How can I get a list of a my capital equipment?

Equipment custodians have access to the official list of equipment assigned  to them via BU Works Reporting.

Department Administrators also have access to a list of equipment purchased under  department responsible cost centers. via BU Works Reporting. Upon request, Property Management can run a query of all equipment for a department, custodian/principal investigator, building, or room/lab.

 

How do I know which items I can take when I transfer?

Property Management can run a query on capital equipment assigned to a Principal Investigator

In general, equipment is either titled to the University or a sponsor. (sponsored funds are generally awarded to the Trustees of Boston University, not individual PIs)Individuals rarely have title to equipment.

Title to equipment purchased with BU funds (including startup funds) vests with the University

Equipment purchased wholly or in part by a sponsored award requires a title review to determine if the title is vested with BU, a contractor, or the federal government.

 

Why are there duplicate items on my list of equipment?

When equipment purchased utilizing multiple sources of payment, it shows up for each department involved with the purchase and the price each department paid.

 

How do I make a correction to a purchase requisition after it has been approved?

Sourcing & Procurement is the best resource for making changes to purchase requisitions.

Please submit questions via the Financial Affairs Customer Service Portal at https://bu.service-now.com/fa

 

What can I expect after placing an order including capital equipment?

  • Property Management may reach out with questions regarding the equipment and its performance location.
  • If your order is funded by a sponsored program, Sponsored Programs Post Award will be added as approver for the requisition.

How do I get my equipment serviced?

Equipment under guarantee may be serviced by the vendor or manufacturer. The department may select its own servicing company or seek assistance from Facilities Management & Planning to service equipment no longer under guarantee.

 

How do I get approval to take equipment with me when I transfer or retire from BU?

A transfer request begins with a title review by Property Management.  Written approval is required by the dean, department chair, or unit head via a Transfer agreement . If the equipment is titled to the government or other agency, written approval must also be given by the agency.

How do I know who holds the title to equipment?

Boston University has title to most of the capital equipment equipment purchased through the university including much of the equipment purchased purchased on sponsored awards (sponsored funds are generally awarded to the Trustees of Boston University, not individual PIs).  Property Management can assist with determining who holds title of equipment.

How can I get equipment removed?

Contact Facilities Management & Planning to schedule the removal of non-hazardous equipment and contact Environmental Health & Safety for hazardous equipment. Please see Disposition section for additional details.

 

What do I do if my equipment is stolen or damaged?

If an item is stolen, contact Boston University Police Department to file a report. If an item is damaged, notify Risk Management. Property Management must also be contacted on both occasions.

 

How do I know if my order includes capital equipment?

  • Moveable Capital Equipment is defined as any article of non-expendable tangible property (e.g., automobile, centrifuge, microscope, projector, network server) that meets the following capitalization criteria.
    1. Purchased item has a useful life of one year or greater.
    2. Cost of the item is $5,000 or greater, including delivery and installation costs, and including the cost of attachments required to operate the item when those attachments are acquired as part of the original equipment purchase.
    3. Boston University has title to, is the custodian of, or is held responsible to account for the item. 

 

What do I do if equipment is being donated to BU or I want to donate equipment to another institution?

Please see Gift and Donations section for additional information regarding donated equipment.

 

What do I do if I have equipment that is not in use?

If the equipment is still in usable condition, it can be transferred to other BU departments or sold to other institutions. Equipment may also be added to our Equipment Swap list.  If equipment no longer in an operable condition, follow the correct procedures to have the equipment properly disposed of.

 

Do I need to do anything different when setting up an order that includes capital equipment?

  • Generally, the PR is set up to match the lines in the vendor quote.
  • It is best if each item of a capital purchase (device, component, installation, delivery)  be on a separate line item in the requisition.
  • If you have multiple pieces of capital equipment, each device needs to be on a separate line in the PR with a quantity of 1. All equipment and their parts should be grouped together.
  • For complex, orders, contact Property Management in advance to determine the most efficient way to prepare the Purchase requisition.
  • Quotes or product information documents must be attached or provided by link.
  • If the order documents do not clearly state the type of equipment being ordered, provide a description of the equipment in the Comment section.
  • Use the GL code 510100 Non-capital Minor Equipment. Property will make the adjustment to capital equipment.
  • Provide a contact name or Principal Investigator in the Deliver To or Comment section.
  • If the delivery address is different than the equipment’s final location, add the address (including building and room number) of its final location in the Comment section.

 

What are G/L Accounts?

A general ledger (G/L) account is an account or record used to sort and store balance sheet and income statement transactions

 

Who or what is a Department Property Administrator?

Individual selected to facilitate in property management process for their department or group.

 

How do I dispose of Hazardous waste?

Directions for disposal of hazardous waste can be found on the Environmental Health & Safety website.

 

What is the difference between real estate property and Property Management?

Property Management handles all things pertaining to capital equipment $5,000 and greater while Real Estate Property Management handles buildings and apartments.

 

How is a custodian selected?

The custodian is a person who is responsible for equipment and is usually the principle investigator (PI), department director, or office manager.

 

What is the difference between an asset number and an inventory number?

An asset number is the unique identification number given to an asset by the SAP. Boston University’s financial system.

An inventory number is the unique number displayed on a BU-Property Tag.

 

What is Property Management’s Role in Purchasing?

  • Property Management reviews all orders over $5,000 to screen for capital equipment.
    • Purchase requisitions that meet this threshold need to have the order clearly itemized in the PR and require an attached vendor quote or an explanation of what is ordered.
  • Property Management also keeps an inventory of capital equipment, tracking each item from purchase through deployment and disposition.

 

I want to fabricate custom equipment. What do I do?

Contact Office of Sponsored Programs (OSP) to setup a child account for the fabrication. Once the child account has been setup, fill out a Fabrication Application and submit it to Property Management. Please see Fabricated Capital Equipment section for additional information regarding fabrications.