Policies & Procedures

Summary of Property Control Policy and Procedures

Purpose:

To provide a means for uniform reporting and control of capital assets by all SUNY Campuses

To meet the requirements of NYS Division of the Budget and Department of Audit and Control as well as the needs of the SUNY system itself.
To project and budget funds required to replace old equipment and to acquire new equipment.
To provide the basis for Downstate's Capitalization Policy for asset depreciation records.

Policy:

It is the policy of SUNY Downstate Health Sciences University/University Hospital of Brooklyn that each location unit (department or group of departments) is responsible for following established procedures to control and dispose of equipment and to report events, such as equipment location changes or thefts, which require record updates.

Annual inventories are required by the State and at SUNY campuses. These inventories are conducted by the Property Control Department Inventory Coordinator.

Note: Downstate's Capitalization Policy threshold is found on page 5 of the Property Control User Manual ("Parameters for Asset Inclusion").