Fixed Assets

Seahawk statue directly in front of Hoggard Hall

University Policies

Fixed Assets implements and follows policies set forth by the Office of State Controller, as well as UNC Business Process Standards issued by the UNC Business Process Compliance Office. These standards help ensure that our fixed assets are properly acquired, accounted for, maintained, and disposed of. The following link will provide our Fixed Assets Policy in it's entirety. However, we have also provided three main policy inquiry subjects for quick reference. Please see tab references for each category.

Lost or Stolen Equipment

The Department Head or Authorized Departmental Agent is responsible for notifying University Police immediately if equipment is lost or stolen, regardless of whether or not the equipment has a fixed asset tag. In addition, if the asset has a value of $5000 or more a moveable equipment form must be prepared and forwared to Fixed Assets in conjuction with a police report.

What do I do when equipment is lost or stolen?:

  • File a report with University Police.
  • If equipment $5000 or more fill out a movable equipment form.
  • Send a copy of the police report and a moveable equipement form if applicable to Fixed Assets.

What happens after I report it lost or stolen?

Fixed Assets reported as lost or stolen will remain on the department's inventory listing for two inventory cycles. The missing assets list will be circulated with the annual physical inventory for two years. If the asset is not found during this time period, it will then be declared permanently lost and removed from the deparments fixed assets inventory.