Equipment

Equipment purchased by the College is owned by the State of Alabama and is subject to all State procedures. Equipment is to be used only for official College purposes. All College employees are under a duty to preserve and use wisely College equipment, even if the equipment is under the supervision of a particular Budget Manager.

Equipment is defined as property that costs more than $10,000.00. It is the responsibility of the Budget Manager to whom the equipment is assigned to:

1. Safeguard all equipment.


2. Track the location of equipment (including items with a value of less than $10,000.00) with an Asset Sign-Out Form.


3. Conduct a physical inventory annually of all equipment valued at $10,000.00 or more, or as required by grant agencies. (Refer to State Board of Education Policy 324.01.)


4. Return a signed, accurate inventory listing to be used during the annual audit.


5. Contact the College Police Department to report lost or stolen equipment in a timely manner by completing a Fixed Asset Deletion Form.


6. Prior to relocating inventoried equipment, complete a Transfer Form.


7. Contact the Property Manager regarding any equipment to be scrapped or sold at public auction.


8. For donated equipment to Gadsden State, contact the Property Manager for required information.

State law permits the transfer of surplus property from two-year colleges to local public school boards of education for use by public high schools, middle schools, and elementary schools. Please contact the Property Manager for the required forms.

When transferring equipment not listed on the inventory surplus, use a Transfer Form.

If an item is to be traded in on a new like item (for example, an old copier for a new copier), contact the Property Manager and complete the Fixed Asset Deletion Form.

Equipment Forms can be found under Forms in the Links section of the Financial Services webpage.