Property Management office is responsible for the maintenance of the College property management records by identifying and tagging of property, inputting, updating, and generating reports from CUNYfirst, preparing reconciliation of property records, coordination of the disposition of College property and conducting the annual physical inventory of the College property with the assistance of the department property liaisons.
All property that meets the capital asset threshold value of $5000 or more and all property classified as “sensitive items” should have bar-coded tags affixed. “Sensitive items” refers to property that the College chooses to track although it does not meet the “threshold” value, such as computer hardware or equipment that is less than $5,000 (i.e. printer, tablet PC, IPAD, digital camera etc.). All tags must remain affixed as long as the property is in the possession or in the control of the College.
CUNY Capital Asset policy requires that the College re-inventory all property meet the capital asset threshold value of $5000 or more and all “sensitive items” annually. The University requires the College to maintain a high level of accountability to ensure accurate, complete and timely property management and it is incumbent upon us all to see to it that the assets are kept in good condition and correctly accounted for. Non-compliance carries adverse consequences for the College including a significant risk of funding reductions.
All Colleges must complete their re-inventory by December 31st of the current year, unless otherwise specified. Each custodian department is responsible for controlling its inventory in order to properly account for all items.
When it is determined that the College property should be discarded or transferred, custodian department property liaison must initiate the process by completing and submitting a Property Control Form to the Property Management office. The fields on the Property Control Form (CUNY tag number, item description, manufacturer, model number, serial number, old location of the property, and new location) must be fully completed. If an item is disposed, the type of disposal must be indicated.
For additional information or any questions please contact:
Louis A. Perillo