If property presently held by one department was purchased by another, the owning department must declare the item excess. Funds realized will be remitted to the unit that purchased the item. The ESPM office and the owning department will jointly determine if cannibalization is in the best interest of the university. If the property is cannibalized, the ESPM office will advise the Office of the Controller to delete the property from university records. A department that wishes to make a purchase from the ESPM program must buy from object code 7820.
Cost includes capital equipment, as well as supply items.
Funds can be transferred into object code 7820 from any other object code except faculty, unclassified, classified, and graduate assistant personnel services and staff benefits accounts. The funds in these accounts can be transferred to any other object code. When an excess property item is sold internally, fund and property transfer records must be completed. The fund transfer will be accomplished with a Form 1100 Internal Requisition. The account number of the department receiving the funds also will be shown on Form 1100.