Disposition Procedures

Disposition of University-owned Equipment 

All capitalized equipment which leaves the University permanently (for Trade-ins, see below), must be reported to Capital Assets Management (CAM) Office by the Department responsible.

PDF iconDeduction Form (pdf) should be used if an asset is no longer located, has been stolen, or is to be used for parts.

  • If a department decides to use an asset for spare parts (cannibalize) in order to increase the useful life of other assets, the asset tag must be removed and submitted along with the  PDF iconDeduction Form (pdf) to CAM when the first part is removed from the asset.

  • Departments should list any and all dispositions of items that could possibly be assets. By doing this, CAM can verify the status of the item to keep asset listings more accurate.

Departments should complete a PDF iconTitle Transfer Form (pdf) when equipment transfers to another institution with a departing faculty member. The form must be signed by a Department Contact and Departmental Executive Officer from the University of Iowa, neither of whom are the departing faculty member. The equipment may only be transferred to another institution. As a result, the “Receiving Party Information” should include a contact who can take responsibility for receipt of the equipment.

Trade-Ins:  Items of equipment that are traded in on new equipment should be listed as a separate line item of the Preq. The asset(s) traded-in should be identified by the tag number and, where possible, the manufacturer’s serial number. Assets traded-in will be retired as a result of the purchase, so departments do not use a “Deductions Request Form”.

All equipment items (capitalized and non-capitalized) no longer used by a department:

  • Submit a workflow for a Surplus Removal Form (Hawk ID login required).

  • CAM processes the form by checking for federal assets, deducting any active assets from the department's inventory, and signing the workflow approval to move to University Surplus.

  • University Surplus is then responsible for coordinating the removal of the equipment.

  • Specialized equipment may be sold directly by a department when that sale is deemed to be most advantageous to the University and/or department. Departments must obtain prior authorization from University Surplus. Departments will still need to submit a Surplus Removal Form (Hawk ID login required) through workflow.

Loss, Theft or Destruction of Property (UI Operations Manual, Part V, Chapter 12, Section 7)

  • Any University property stolen, destroyed, or missing must be reported to the Department of Public Safety at the time that the property is discovered to be missing.

  • If the property is not recovered within 48 hours, the incident must be reported, in writing, to the University Risk Manager. At the same time, a PDF iconDeduction Form (pdf) and a copy of the security report must be sent to CAM in order to remove the asset from the University asset management system.

Disaster-related Forms

There may be a need to document transactions related to disasters on specific forms. These forms will be made available as necessary.