Property Control System Manual (PCS)

Effective: 3/1/1984

Revised: 7/1/2012

PCS 1102: Stolen Sponsor-Owned Equipment

Purpose

To ensure that departments report the disappearance of equipment that has been purchased with sponsored funds or furnished by the sponsor

Sources

Property Control

Financial Services

Insurance Services

Policy

Principal investigators must report stolen equipment immediately to the ASU Police Department (ASU PD) so that a police report may be filed and the property accounted for.

Note:

The Arizona Department of Administration’s Risk Management Division will not reimburse for mysterious disappearances, inventory shortages, obsolescence, and non-serviceability of capital equipment.

Procedure

The principal investigator notifies ASU PD of the theft.

ASU PD performs an investigation and prepares a police report detailing the incident and records the ASU Property Control number (PCN) on the police report, if applicable.

The department completes a Loss Report for the stolen equipment and sends the form and a copy of the police report to Insurance Services.

Insurance Services processes the claim for reimbursement through the Arizona Department of Administration’s Risk Management Division and sends a copy of the documentation to Property Control.

Property Control verifies that the PCN and serial number of the asset(s) are on the Loss Report.

Property Control:

1. retires the asset(s) from the Property Control database
2. notifies the sponsor or administrative contracting officer that the equipment has been stolen

   and

3. completes and submits a Loss, Damage, Destruction, or Theft form, if required, by the sponsor.

Upon receiving the reimbursement from the Arizona Department of Administration’s Risk Management and Safety Services Division, Insurance Services processes the reimbursement through Sponsored Projects Fiscal Management, noting the sponsored agency/org and capital object code to credit.

Cross-Reference

For more information about property-loss insurance and property claims, Environmental Health & Safety Policies and Procedures Manual (EHS)—EHS 705–01, “University Property Loss Insurance Recovery—Property Claims.”

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