Property Management Overview
The Office of Property Management takes an active role in all aspects of property management in the Hostos Community College community. Our main goal is to maintain accurate records regarding movable capital equipment.
Capital assets comprise a significant part of the City University of New York’s (CUNY) resources, and capital expenditures are a significant portion of CUNY’s budget. The Capital Asset Policy requires every college and its respective departments or units to acquire, record, inventory, and dispose of capital assets (hardware, software, furniture, fixtures, equipment, artwork, etc.) according to the New York State and CUNY guidelines.
The Property Management Office is responsible for recording and tracking all newly acquired assets with a dollar value of $5,000 or more. These assets include lab equipment, hardware, software, musical instruments, furniture, fixtures, and artwork. Select equipment with a dollar value of less than $5,000 such as iPads, laptops, desktops, digital cameras and camcorders are defined as sensitive to theft and therefore must also be tagged. The Property Management Office is also responsible for the relinquishment or disposing of equipment that is deemed obsolete or irreparable and for property exiting the building. The Property Management Office conducts an annual inventory of all assets purchased by the College (tax levy, grant, overhead, and capital funding sources)
Policies and Procedures
Property Management follows the City University Policies and Procedures regarding movable capital equipment. The University must comply with federal regulations in the Office of Management and Budget Circular A-110 and A-21. All movable capital equipment owned by or located at Hostos Community College should be identified in the property management system. This includes items that are donated, leased, loaned, or transferred to the college, as well as all equipment purchased by the college with either restricted or unrestricted funds.
A-110 https://www.whitehouse.gov/wp-content/uploads/2017/11/Circular-110.pdf
A-21 https://www.whitehouse.gov/wp-content/uploads/legacy_drupal_files/omb/circulars/A21/a21_2004.pdf
CUNY Capital Asset Policy: https://www.cuny.edu/wp-content/uploads/sites/4/page-assets/about/administration/offices/budget-and-finance/resources/Capital-Asset-Policy-effective-7-1-2016.pdf
Policy on Inventory of Equipment/Software: Capital Assets & Property Management – The City University of New York
Property Control Form
Asset Disposal / Salvage
CUNYFIRST records must be updated when one of the following occurs:
- Transfer between departments
- Transfer between rooms of a department
- Transfer to new locations including At Home/Off Campus
- Transfer of title/location between Colleges
All updates are done based on the Property Removal/Transfer Form used for such transfers. Completing the Property Removal/Transfer Form and sending the copy to Property Management is a MUST.
The Office of Property Management ("PM") is the point of contact for disposal of all capital assets (Computers, Monitors, Scanners, etc.) and apply to all equipment purchased with Tax‐levy, DASNY, Research Foundation, or any other funding source.
If you would like for item(s) to be removed from your department or office, please complete the Property Control Form. If your department has more than a few items, use the additional equipment section of the form or make a separate Excel file and email it to us at irosario@hostos.cuny.edu.
The list should include the following:
- CUNY tag number
- Location
- Description
- Manufacturer
- Model
- Serial Number
Disposition Types Table
Disposition Type |
Description |
CANNIBALIZED |
To dismantle property for parts which are used as replacements in other property |
DONATED |
Item contributed to a non-profit organization which has 501(c) (3) tax exempt status as defined by IRS, or is licensed by the City or State to accept such property donations. “Agreement of donation (form)” shall be filled in and signed by the party receiving any disposed property from the College and “as is condition” must be indicated on the form. |
OBSOLETE |
Item no longer used due to the useful life and has been replaced by a newer version. |
SALVAGED |
Relinquishment of surplus or obsolete item to the City Surplus (DCAS). Property Management personnel must document “Salvage” property with the corresponding relinquishment form. |
SCRAPPED |
Relinquishment of irreparable item to a recycling vendor. Documentation includes recycling vendors’ pick-up receipt of item |
LOST/STOLEN |
MUST BE ACCOMPANIED BY A CAMPUS POLICE REPORT. |