The University of New Mexico may acquire, maintain, protect, use, and dispose of property required to perform its mission. University property and resources may be used only for University business.
University property is in the custody of the department which purchased or is using the property.
The department is responsible for the management and control of the property assigned to it. Acquiring Property 2.1. Departments may contact the Plant Fund Accounting Department for an account number to transfer the funds if the department does not have a plant fund account. All purchases involving Federal funds must comply with the guidelines of the individual contract or grant, and be approved by the University Contract and Grant Accounting Office or the University Health Sciences Center Controller's Office. The purchase of equipment must be necessary, in accordance with the terms of the contract or grant, and comply with U.S. Government regulations.