- Property
- Property Use and Responsibility
- Taking Property Off-Campus
- Property Definitions and Tags
- Property Records
- Property Validation
- Missing and Stolen Property
- Salvage and Surplus Property
- Property Disposal
- Surplus Property Public Sale
- Training
- Procurement and Property Services Home
Missing and Stolen Property
MISSING PROPERTY |
STOLEN PROPERTY |
|---|---|
has disappeared with no explanation |
has disappeared by known theft, whether by forced removal, burglary, theft by employee, or other criminal act |
Must be reported IMMEDIATELY to the Property Manager |
Must be reported IMMEDIATELY to the Property Manager; Must be reported IMMEDIATELY to UPD |
Missing, Damaged or Stolen Property Report must be completed in detail, signed by Department Head, and submitted within 24 hours of initial report to the Property Manager. |
Missing, Damaged or Stolen Report must be completed in detail, signed by Department Head, and submitted within 24 hours of initial report to the Property Manager. |
The Department Head must make an initial determination of whether negligence was involved in the loss. |
The Department Head must make an initial determination of whether negligence was involved in the loss. |
Failure to report missing property or submit the Missing, Damaged or Stolen Property Report within 24 hours may be construed as negligence. |
Failure to report stolen property or submit the Missing, Damaged or Stolen Property Report within 24 hours may be construed as negligence. |
Missing property will remain on the department’s property records for a period of two (2) years during which a diligent search must continue |
Stolen property will be deleted immediately and added back to property records, should it be recovered. |
Any appropriations withheld from the University due to exceeding the allowed value threshold of Missing Property will be deducted from the budget of the department(s) responsible for the property. |
|
REPORTING |
REPORTING |
The Property Manager will notify additional parties as follows: Computers
Other without Negligence
Other with Negligence
|
The Property Manager will notify additional parties as follows: Computers
Other without Negligence
Other with Negligence
|
NEGLIGENCE
Any individual with Specific Responsibility for property may be held financially responsible if negligence is determined. Financial responsibility may apply to more than one person given the circumstances of each instance of loss. Negligence is defined as:
- failure to exercise reasonable care and safekeeping of University property, resulting in its disappearance or theft;
- failure to exercise reasonable care to maintain and service property, resulting in deterioration of the property;
- evidence that property has been damaged or destroyed as a result of an intentional wrongful act or a negligent act.
STEPS FOR DETERMINING NEGLIGENCE
- The Property Manager will investigate when reasonable cause exists in any loss.
- If negligence is confirmed, notification will be made to the SFA Audit Services, State Attorney General, Vice President for the division, Vice President for Finance and Administration, and the Director of Purchasing & Inventory.
- While the loss is pending with the AG's Office, SFA will determine the value of the property and give the negligent employee(s) an opportunity to provide a Replacement or Reimbursement to the University.
- The Attorney General's Office may accept the action taken in the above step and close the case, or investigate and make a final determination of negligence - which may be greater or less than that determined by SFA.
- If the negligent employees do not provide a Replacement or Reimbursement to the University, and negligence is determined, OR if the State Attorney General determines a greater negligence, the State Attorney General will make a written demand for reimbursement to the State.
REPLACEMENT OR REIMBURSEMENT
The Property Manager in consultation with the Department Head will determine whether Replacement of property or Reimbursement of funds best meets the needs of the University.
Determining Value If employee negligence is determined in a loss of property, the Property Manager will determine the value of the loss to the University by considering two factors:
a) value of the property - the value of the property may be considered using any or all of the following information:
- fully depreciated value of $0
- fair market value
- original purchase value
b) value to SFA - even though property may have been fully depreciated, its value to the University may be considered to the extent it is used on a regular basis. This value may be determined in consultation with department representatives and Internal Audit Services.
Replacement - If replacement is elected, the employee(s) must purchase property that is equal to or better in specification than the missing or stolen property. The Department Head or designee must confirm in writing that the replacement property is in the possession of the University and that it is equal or better than the original property. A copy of the specifications should be submitted along with the confirmation. Upon receipt of the confirmation and specifications, the Property Manager will prepare a tag to be affixed to the replacement property.
Reimbursement - If reimbursement is elected, the employee(s) must submit to the Property Manager payment for the property, or a copy of the deposit receipt documenting the reimbursement to the University. The Property Manager will file the deposit receipt with documentation supporting the reimbursement account.
The department may elect to purchase Replacement property that exceeds the specifications of the old. If this is preferred, pricing for specifications equivalent to the lost property should be determined, and submitted to the Property Manager along with a copy of the deposit receipt documenting the Reimbursement by the employee(s). The department can then complete their procurement following standard procedures.
NOTE: The State Attorney General may make an additional demand for Reimbursement based upon their assessment of value.