Effective: December 1, 1999
Revised: June 2016
Review: June 2018
Responsible Party: Vice Chancellor for Finance & Administration
Montana State University-Northern has statutory obligations to record, control and account for property acquired with University funds or donated to the University. All property acquired by or donated to the University, regardless of the source, belongs to the University.
- The Chancellor may delegate responsibility for the management of University-owned
property, using the model described in Policy 903.4, Space Assignment and Management. The Director of Financial Services is assigned
responsibilities as the overall property coordinator.
- Individuals with delegated responsibility for University-owned property are responsible
to the Chancellor for all such property purchased in the unit name or assigned to
that unit, regardless of the source of funds. That responsibility includes taking
adequate precautions to ensure that such property is reasonably safe from theft or
misuse. Losses or thefts of property must be reported at the earliest opportunity
to the individual or unit manager responsible for such property.
- Individuals with delegated responsibility for property may assign specific property
to faculty or staff members, who are expected to maintain such property reasonably.
Property may not be removed from an assigned area without the express permission of
the above described individuals or unit managers.
- Physical inventories are required for all capital assets, tagged minor equipment and
sensitive equipment. In coordination with unit managers, the Business Office and Physical
Plant will ensure physical inventories are conducted in accordance with State Policy, MOM 335.VIIB, and necessary write-offs are documented and submitted to the Legislative Audit
Division (LAD) and the Attorney General as lost, stolen or destroyed property in accordance
with MOM 335 .XII.D.
- Disposal Procedures for campus owned property. Any party desiring to dispose (junk,
sell or donate) of state owned assets must complete a Surplus Property form found
on the Business Services Forms website, and return it to the Financial Services office
for routing and approval from the State DOA Property and Supply Bureau prior to disposal.
- Highly pilferable or sensitive items including personal computers, laptops and cameras
are required to be tracked, and inventoried regardless of their cost.
- The 7. The diverse and highly technical nature of some University property, in particular
those items that are purchased for use in the sciences, in engineering and technical
programs, and computer equipment requires oversight of Information Technology Services/Facilities
Services for alteration, removal, or disposal of said property.
- Physical Plant personnel will conduct employee training annually that addresses disposal and lost, stolen or destroyed property procedures and publish those procedures and applicable forms on the MSUN website for increased awareness and accessibility.