Property Control System Manual (PCS)

Effective: 3/1/1984

Revised: 3/1/2019

PCS 1101: Stolen University-Owned Equipment

Purpose

To ensure that university departments report stolen equipment purchased with state or local funds

Sources

Capital Assets Management (CAM)

Financial Services

Insurance Services

Policy

Departmental personnel must report stolen equipment immediately to the ASU Police Department (ASU PD) so that a police report may be prepared 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 department 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.

Upon receiving the reimbursement from the Arizona Department of Administration’s Risk Management Division, Insurance Services:

1. contacts the department for a cost center and program and credits loss on sale of assets in which to deposit the reimbursement
2. processes the reimbursement

    

   and

3. sends a copy of the documentation to Property Control.

CAM retires the asset(s) in Workday Business Assets.

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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