Acquisition of Equipment – Transfer In
Included on this page:
Definition
Transfer In – Item brought into the University or department from another university, agency, or department. Transferred items are treated as equipment if they meet the equipment definition. University departments must approximate the fair market value of transferred items at the time of receipt. Items that have an estimated fair market value of $2,000 or more, with a life expectancy of more than one year, must be tagged and inventoried.
Procedure
- Upon receipt of equipment tranferred in, department determines the value of the equipment:
- If transferred in from another university of agency - Property transferring into the University must be accompanied by signed paperwork from the transferring agency.
- Federally owned equipment: Cost is defined as the original acquisition cost that appears on the transfer document.
- University owned equipment: Cost is defined as the fair market value at the time of receipt.
- If transferred in to your department from another University department: - The department that has original custody of the equipment must:
- Complete a Property Activity Request - Form 1024 including the new department's budget or organization code.
- Send the original Property Activity Request - Form 1024 to the equipment Inventory Office at UW Box 351121.
- If the item has been reassigned and the funding budget is to be reimbursed:
- (For State Budgets) Complete and submit a Journal Voucher (JV) to Banking and Accounting Operations to move the funds.
- (For Grant and Contract Budgets) Complete a Request to Transfer Expenditures (RTE) to Grant and Contract Accounting.
- Within 24 hours of receipt, department tags asset and enters it into OASIS as a "T" status asset. Information to be entered should include:
- UW Tag Number (contact your departmental inventory person)
- Description
- Manufacturer
- Model
- Serial Number
- Custodian/User
- Building
- Wing
- Room Number
- Status (enter T)
- Requisition Number (enter 000000)
- Accountable Budget
- Total Cost
- Class Code
- Date Received
- Acquisition Method (enter - TI for Transfer In)
- Department sends the transfer paperwork from the originating institution, along with the tag number assigned, to the Equipment Inventory Office at UW Box 351121.
- Equipment Inventory:
- Reviews the transfer paperwork. If necessary, it will be signed by the Property Manager and returned to the originating institution for verification of receipt.
- Reviews the OASIS entry for complete information.
- Approves the asset.
Forms Required
- Property Activity Request - Form 1024 for transfers between University departments.
- Transfer paperwork from transferring agency for transfers from outside the University.
- Optional - UW Equipment Information (Orange) Card
Frequently Asked Questions
For frequently asked questions related to this topic, please visit our FAQ page.
Regulations
State Administrative and Accounting Manual (SAAM), Chapter 30: Capital Assets
University of Washington Administrative Policy Statements:
Federal Regulations:
Contacts
State/University Titled
Equipment: 206-543-4663 or eio@u.washington.edu
Federally Titled
Equipment:
206-543-4640 or 206-616-4047
