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• Cannot give/sell the item to faculty/staff. CU holds online auctions and sells items at the to provide equal opportunity to purchase an item.
• Cannot give/sell directly to a company/person/charity.
• Cannot allow a transferring PI to take an item without permission from CU and acceptance of the item from the receiving institution. Legally, CU transfers the item to the receiving institution, not the PI.

1. Assets that are no longer being used for their intended purpose are considered impaired; e.g. using an old desktop to run just one old software program because new operating systems are incompatible with the software program; or some of an item’s features don’t work anymore so the item is operating at a much lower capacity. The auditors ask for a list of impaired assets each year. Rationale: Overstatement of asset value.
2. Assets that are no longer being used but are kept as replacement parts for fabrications, computers, etc. These assets should be removed from our books once they are cannibalized. Rationale: Overstatement of asset value. Please request permission to cannibalize equipment with the disposal formÌýor email property@colorado.edu.
3. Other departments on campus may be able to use the equipment you are no longer using. Budgets are tight and your equipment can be loaned (if you think you might want it back) or transferred to a department that can use the items, saving valuable budget money. You can even arrange for the other department to pay for the item. Rationale: Maximizing asset utilization and cost savings to CU.
4. Storing unused assets takes up space, in some cases creates safety issues, and reduces auction value with each passing month. Just 6 months of storage for a computer reduces its value by half at auctions and also reduces its effectiveness for another department.
5. Safety issues arise from old refrigerators, computers, monitors, combustible materials, etc. that are stored in rooms that our Safety Department is not aware of being there during fires or floods.

Please contact property@Colorado.eduÌýif you have any unused equipment.

Use this Property Disposal TreeÌýposter outside your labs, offices and other rooms that have equipment in them.

Inventories need to be a snapshot in time.

1. Taking twoÌýpictures of each tagged item can help you find assets quickly during inventory.
   1. First picture: TheÌýtagged item within the room, showing where it is and what it looks like.
   2. Second picture: A close-upÌýshowing the tag on the item where the number is readable.
2. Store the pictures in a way that they are mobile either in a folder or electronically on a tablet or laptop.
3. Inventories that run longer than the allotted time allowed per GAAP/GASB/State/Campus Guidelines will be rejected and the department will be asked to start over. The additional 5-10 minutes upfront will save you time each inventory cycle that you have the tagged item.

• Gain 'read-only' access to PeopleSoft Asset Management
• PSAM allows you to query your departmental assets to review their tag#, location, funding source, responsible person, etc. Contact property@colorado.edu to request access.