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Listed below are the most common question received by the Property Office. Should you require more detail, please feel free to contact us.
Q. How does the Property Office determine what is tagged and what is not? A. The Property Office tags items that fall into one of two categories. Q. What does PCN stand for? A. PCN stands for Property Control Number. This number is assigned to inventoriable assets or equipment by the Property Office. PCN’s are six characters long and begin with either a 7, D or R. The number seven indicates that the item was purchased with state funds. Donated items are tagged with a tag beginning with a D. Assets tagged with an R tag were purchased with restricted funds. Q. Do I need to notify the Property Office when I purchase inventoriable assets or equipment? A. Generally, you do not need to notify the Property Office when new inventoriable assets or equipment are purchased. A Property Office representative works with Accounts Payable on a daily basis. Newly acquired items are not tagged until after payment has been rendered. Exceptions are made for items that will immediately leave campus. However, if the Property Office has not attempted to tag the item within a month of payment being rendered, do call to make sure that the item is properly tagged and recorded in the Fixed Assets database. Q. Why do I need to complete an Annual Off Campus Receipt before I take tagged assets off campus? A. Annual Off Campus Receipts are required by New Mexico Tech policy before assets are removed from campus. The receipts provide proof of authorization, an audit trail and may be required by the insurance company if the item is damaged or stolen. Q. Why do I need to complete a Calibration and Repair Receipt before sending an item away for maintenance? A. Calibration and Repair Receipts must be completed before items are sent away to provide an audit trail, maintenance trail, and contact information should another member of the NMT community need to check on the status of the asset. Q. What do I have to do for the annual inventory? A. The annual inventory requires that a department representative other than the primary custodian locate each item. Once the item has been located, the inventory report should updated, if necessary to add the PCN, model number, serial number, location and custodian. A current year inventory sticker should then be placed on the asset. For detailed instruction, please read the Annual Inventory Instructions located on the Policies & Regulations page. Q. What is the biennual review purpose and what do I have to do for it? A. The biennual review is used to internally assist and provide departments with feedback in regard to property management. A random 20% of the Department’s assets are sampled every other year. When the review date is scheduled the PI should locate their items that were selected for audit and mark them so that they may be easily located on the day of the audit. At lease one escort must be provided to guide the auditor from asset to asset. A results letter is sent based on the property office findings, recommendations and observations. Q. I have many obsolete and broken items. Can I throw them away? A. No, obsolete, broken or unwanted items should not be thrown away. Tagged items need to be properly removed from inventory. Additionally, obsolete or broken items may have scrap value. Finally, many items pose potential health or environmental hazards. As such, NMT must prove that the items were disposed of lawfully and safely. All items should be disposed of through the Property Office. Q. How do I submit assets to the Property Office for disposition? A. Items may be delivered to the Property Office or an appointment can be scheduled for a Property Office Representative to pick up the items. Either way, the surplusing department must complete a Pickup & Disposal Request before any items will be accepted. Q. Can other departments purchase items from the Property Yard? A. Yes, items may be purchased interdepartmentally though out the year. However, the yard closes prior to the auction so that assets may be arranged and categorized for the annual auction. Notices will be sent, outlining important Property Office dates in advance of any closures or auctions. Q. Can individuals purchase items from the Property Yard prior to the auction? A. There are only two approved methods Tech uses to dispose of surplus. The first is through public auction and the second is through sealed bid. No items may be sold outside of these two methods.
Property Homepage ♦ Policies & Regulations ♦ Auction ♦ Forms ♦ Training ♦ Definitions ♦ FAQ's ♦ Contact Us
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