Departmental Best Practices for Asset Management

Lab equipment.

Published December 2, 2022

Review our best practices to ensure that your department's university assets are tracked, recorded, and safeguarded.


Record Your Capitalized Assets

  • Provide Asset Management with new asset information such as location, serial number, and end-user within 30 days of receipt of the asset.
  • Assist Asset Management in locating assets and new asset tagging when requested.
  • Notify Asset Management of fabricated assets including details supporting the purchases which make up the fabricated assets including details supporting the purchases which make up the asset

Complete a Physical Inventory

  • Conduct a full physical inventory of all capitalized assets as a requirement of the university’s biennial inventory.  Return the completed inventory workbook provided by Asset Management by the due date (November 15).

Track High-Risk Items below $5,000

  • Document your departmental process for tagging higher-risk equipment, including a non-barcoded UB identification tag.  Examples of high-risk equipment are laptops and cameras.
  • Create a list of high-risk items and periodically spot-check to verify their existence and condition.

Safeguard Your Departmental Assets

  • Maintain a current record of equipment located off-campus including description, bar-coded asset tag number (if applicable), location, and the person responsible for the property.
  •  Report theft, loss, or misuse of any assets or high-risk equipment to the University Police.
  •  Properly dispose of university assets.
  • Secure university assets within the custody of the department. (e.g. lock doors and cabinets).

Contact the Asset Management Team

Valerie Dennis.

Valerie Dennis

Asset Management, Card Programs and eProcurement

Financial Management

Phone: 716-645-2604


Nicole Mayer.

Nicole Mayer

Asset Management, Financial Management

Phone: 716-645-4556