A physical inventory is performed each year to verify the existence, condition, and location of College assets.
Surplus Asset Inventory
Surplus furniture and equipment is stored and managed by Business Services. Surplus inventory includes desks, tables, chairs, file cabinet, bookcases, storage cabinets and numerous other items that are in good condition. When surplus furniture is stored, it is immediately made available on a first-come, first-served basis for redistribution on campus. Assets are not stored for future use by departments.
Assets that no longer have a usable life cannot be disposed of by its respective department, please contact Business Services to coordinate removal.
Definition of State Property
College property is State property regardless of acquisition method. Property that is purchased with State funds is State property as well as property purchased by the College with non-State funds. Property donated or given as a gift to the College becomes College/State property as soon as it is accepted by the College. There is no dollar value used to determine if the property is College or State property. "Property" as used in this procedure includes material or equipment classified as personal property, such as furniture, laboratory equipment and information technology equipment. College/State property cannot be given away, thrown away, sold or converted for personal use. College/State property, regardless of acquisition cost, can only be disposed of in accordance with the provisions of Massachusetts Regulation 802, CMR, 3.00.