Effective: 08/28/2007
Senate Proposal: No
Responsible University Officer: Associate Vice President for Finance
Responsible Office: Financial Services and Operations
Policy Statement
The University will maintain a property manual to safeguard and maintain tangible property at Michigan Tech, to comply with University and government requirements, and to properly account for capital assets on the University financial statements.
Reason for Policy
Reason for Policy: As a recipient of Federal support under sponsored programs, Michigan Tech must comply with the OMB Uniform Guidance and the Federal Acquisition Regulation for property management.
Related Policy Information
This policy applies to property acquired with funding originating with the University, assets acquired with funding from the Federal government or other external sources, or items received by the University by gift or loan.
Contacts
| Office/Unit Name | Telephone Number |
|---|---|
| Property | 906-487-2449 |
Definitions
Responsibilities
Procedures
In support of this policy, the following procedures are included:
Adoption Date
| 08/28/2007 | Approved by CFO. |
Revisions
| 6/26/2018 | To reflect current University practice, changed contact from "Financial Services and Operations 906-487-2436" to "Property 906-487-2085." |
| 2/14/2018 | Annual review: Changed "Responsible University Officer: Vice President for Finance" and "Responsible Office: Financial Services and Operations." Changed from "As a recipient of Federal support under sponsored programs, Michigan Tech must comply with Federal OMB Circular A-110 for managing and safeguarding capital assets, with OMB Circular A-133, regarding program audit requirements, and the Federal Acquisition Regulation, FAR Part 45 for property management." to "Reason for Policy: As a recipient of Federal support under sponsored programs, Michigan Tech must comply with the OMB Uniform Guidance and the Federal Acquisition Regulation for property management." Changed contact to "Financial Services and Operations." |
| 04/10/2017 | Transfer of policy page from HTML to CMS. Business and Finance numbers renamed from "2.2000" to "2. Business and Finance". Specifically from "2.2006—Property Management" to "2.06—Property Management". |
| 05/03/2012 | To reflect current University titles and practice, MTU is now Michigan Tech and the email address for questions is now hbwebmaster. |