Last Revised: September 2008
The ownership of all university property is vested in the Board of Regents of the Nevada System of Higher Education.
Inventoried equipment is defined as all non-expendable merchandise having a unit cost of $5,000 or more and meeting the following criteria: (1) is complete in itself; (2) does not lose its identity even though it may become a component part of another item when placed in use; and (3) is of a durable nature with a life expectancy of one year or more. Included regardless of cost, are firearms of all types (i.e., revolvers, shotguns, rifles, starter guns, and pyrotechnic devices). This definition does not apply if the equipment is leased, rented, or placed at a university facility for demonstration purposes.
The equipment inventory section within Purchasing is the official recording center for university equipment. All university employees are responsible for the safekeeping of university property. Applicable chairpersons, directors, or administrative officers are responsible for ensuring equipment is secure and for reporting discrepancies on the inventoried equipment list.
Gifts and donations are to be reported to the equipment inventory section immediately so necessary records can be completed.
Each responsible unit, in coordination with the equipment inventory section, will complete an annual physical inventory.
Equipment that is sensitive in nature or subject to theft that is valued below the amount determined above must be separately tracked by the institution.
Effective March 1, 2008, computers (desktops, servers, laptops, PDAs) must be tracked regardless of acquisition cost and the following items must be separately tracked by the responsible department if the items have a value in excess of $2,000 and less than $5,000:
The responsible department must send the sensitive equipment inventory list with the annual inventory lists to the equipment inventory section within Purchasing.