University at Buffalo (UB) 
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Departmental Best Practices for Asset Management
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
Asset Management, Card Programs and eProcurement
Financial Management
Phone: 716-645-2604
Email: vlb5@buffalo.edu
Nicole Mayer
Asset Management, Financial Management
Phone: 716-645-4556