Scope

This procedure applies to all responsibility centers of the University including the University of Pittsburgh Medical Center (UPMC) and the Regional Campuses.

This procedure does not apply to the transfer of equipment upon relocation of Principal Investigators. Please refer to guidelines currently available through the Office of Research.

Administrative Responsibilities

Financial Records Services (FRS) is responsible for maintaining the accuracy and integrity of the Asset Management System (AMS) Database and ensuring that assets are acquired, transferred and disposed of in accordance with University AMS policies and procedures. Updates must be made by the department and returned to FRS for processing and proper indirect cost adjustment.

The Responsibility Centers and Departments are responsible for:

• Ensuring that purchases intended for capitalization (See Policy 05-10-01 for Capitalization Criteria) have valid accounts with correct PRISM subcodes.
• Updating building and room locations when assets are moved.
• Informing FRS of non-functional or old assets that are to be transferred to the Department of Surplus Property, so that Asset Management can notify the Warehouse.
• Contacting the Office of Research to start proceedings on a Principal Investigator Transfer (P.I.) for Federal Grants that are being relocated to another institution.
• Assisting FRS during the applicable quarter of the Perpetual Inventory in a timely manner.
• Providing reasonable safeguards to physically protect assets from theft, damage, etc.

The Research Accounting Department is responsible for conducting a pre-acquisition screening process, maintaining all records associated with the grant contract and stipulations.

The Facilities Management Department (FM) is responsible for maintaining supporting documentation for fabricated equipment, building, and building and land improvements. FM is responsible for identifying projects that will meet the University's capitalization threshold, maintaining control and perpetuation of stockroom inventories, and maintaining the accuracy and integrity of the Job Order Cost System. FM will notify Financial Reporting when projects are completed or when cost overages are anticipated and additional funding is needed.

Financial Reporting is responsible for ensuring that all account numbers and funding sources are established for land and building acquisitions or improvement projects, approving the write-off of obsolete inventory, acknowledging gifts-in-kind in cooperation with the Office of Institutional Advancement, determining if any donated assets should be capitalized in accordance with the University's capitalization policy (See Policy 05-10-01), assigning a value to the donations and maintaining supporting documentation for the donated assets.

The University of Pittsburgh Medical Center (UPMC) is responsible for adhering to the fixed asset management policies of the University, utilizing PRISM account numbers and subcodes in accordance with those established by the University, ensuring that the UPMC Fixed Asset Management System's data fields cross-reference with the required fields included in the University's AMS and account for all transactions procured through University Central Purchasing.

Western Psychiatric Institute & Clinic (WPIC) and Pittsburgh Cancer Institute (PCI) are responsible for maintaining a schedule of equipment acquisitions made with research funds and purchased through University Centralized Purchasing.