The Asset Transfer Document should be initiated when the asset is physically removed from the Organization. The exception to this is a transfer to Surplus Stores. When sending equipment to Surplus Stores, the equipment should be transferred prior to Surplus's receipt of the equipment.

Failure to promptly initiate an asset transfer can result in an unfavorable audit finding.

An asset can be transferred to any operating account the receiving organization deems appropriate. Capital assets should never be transferred using a plant fund account number.

The general ledger entries generated by the asset transfer will reverse out the account amounts from the current chart/organization (balance sheet) and add them to the chart/organization (balance sheet) the asset is being transferred to. For more information on the ledger entries generated by the Asset Transfer Document reference CSOP 14.0 Capitalization Entries to the General Ledger at url: http://www.fms.indiana.edu/cams/policies/csop_14_capitalization_entries.asp

For "External Transfers" the asset would be retired from the university asset database. The correct document for External Transfers is an Asset Retirement. Reference (Asset Retirement Training Material at url: http://www.fms.indiana.edu/fis/documentation/asset_retirement.pdf)

Technology assets may still have a market value which could bring revenue to the organization when the equipment is no longer being used or needed. As technology ages it loses value and becomes a burden to the organization and Indiana University. Be sure to promptly transfer unused assets to surplus.

Approvals
Asset Transfer Documents are routed to the fiscal officer or delegate of the current owner account, and the receiving owner account.

1. Transfer between University Organizations
2. Transfer to Surplus
3. Interdepartmental Sale of Equipment

1. Transfer between University Organizations

Bloomington, Indianapolis
After the transfer has been agreed upon by both organizations, either organization may process the Asset Transfer Document. The current owner will retain responsibility until the receiving organization's fiscal officer approves the transfer document. We suggest that the transferring organization contact the receiving organization to ensure that the item is transferred into the appropriate account.

Use the Notes button on the Asset Transfer Document to identify the person your organization has been working with to transfer the equipment. This information will be helpful to the fiscal officer or delegate when they are approving the document.

East, Northwest, South Bend, Southeast
For the campuses listed above the Campus Capital Asset Office representative issues the Asset Transfer Document. The organization can send an e-mail the Campus Capital Asset Office representative. The note should include the asset or tag number, the account number of the receiving organization, and the building name and room number.

Kokomo requires the organization to complete a "Capital Equipment Transaction form." This form can be acquired by contacting Dave Hawkins.

2. Transfer to Surplus

The disposal of surplus equipment at Indiana University is governed by Institutional Polices, Purchasing: P-14.0 Disposal and Redistribution of University Property, Purchasing P-14.1 Sale of Computing Equipment.

For capital equipment it is important the surplus staff know beforehand what equipment is coming, to this end Surplus requires that the transfer document be issued prior to surplus's receipt of the equipment. A copy of the asset transfer document should be attached or accompany the equipment.

With this requirement it will be important to monitor the routing and approval progress of the asset transfer document. The IUIE report Unapproved Documents in Inbox by Chart and Org can be a useful tool for monitoring the routing progress. In IUIE the report can be found in the following folder: Financial/Capital Asset Management System/Inventory Control Reports.

When moveable capital equipment is taken to Surplus Stores the yellow capital asset tag should remain on the equipment.

Non-capital assets should be taken to Surplus Stores. Non-capital assets should not have an Asset Transfer Document initiated. The white non-capital asset tag or the organization's tag should be removed when non-capital assets are taken to Surplus Stores.

When assets are not considered viable for sale by Purchasing, and there are no environmental concerns, they should be disposed of in the normal Building Services process. The correct document for this type of transaction is an Asset Retirement with a retirement reason of Discarded.

If the asset(s) is too large, too numerous, or hazardous, the organization should contact the organization listed below to dispose of the asset.

• Bloomington, Physical Plant, 812- 855-8728
• Indianapolis, Surplus, 317-278-1707
• East, Physical Plant, 765-973-8254
• Kokomo, Physical Plant, 765-455-9393
• Northwest, Environmental Health and Safety, 980-6778
• South Bend, Support Services, 574-520-4250
• Southeast, Physical Plant, 812-941-2330

Reference (Indiana University Knowledge Base, How can I minimize my computer's impact on the environment?) URL: http://kb.iu.edu/data/erth.html

Bloomington, East, Kokomo Southeast
Bloomington Surplus can be reached by:

• calling (812)855-2475
• by e-mailing surplus@indiana.edu
• filling out the request for pick up form which can be printed from the following web site: http://www.document.indiana.edu/copy/forms2/SurplusEWasteForm.aspx

When surplus equipment is sold and a profit is made a Distribution of Income and Expense will be issued by the Document Management Organization to move the income into the departmental account.

When transferring a capital asset to surplus on the Bloomington campus, please enter the following information on the Asset Transfer Document:

• Set the receiving account number to 6625800.
• Set the campus code to Bloomington.
• Set the building number to BL615.
• Set the room number to 127

For disposal of computing equipment, Surplus Stores has requested the organization also complete a Transfer of Computing Equipment form available at http://www.indiana.edu/~surplus/etc/transfer.pdf. This would be in addition to the Asset Transfer Document for capital equipment.

East, Kokomo Southeast
Periodically the East, Kokomo, and Southeast campus will collect equipment that will be sent/pickup by Bloomington Surplus. The equipment may be gathered into one location or remain in the organization until the equipment is sent to Bloomington. The surplus assets will remain on the organization's inventory until the equipment is sent to surplus; however the location should be updated to reflect the actual location of the equipment.

Indianapolis
In addition to issuing the Asset Transfer Document for capital assets, the organization must submit an IUPUI Surplus Form. The form requires the following information:

• date the pickup is needed
• your location
• organization name
• account to be charged (when required)
• date of Request
• contact Name
• contact Phone Number
• quantity
• item Description
• is it working. Yes/NO
• identifying #, University tag number if available

IUPUI Surplus can be reached by:

• Faxing the IUPUI Surplus form to Jason Dunn @ (317)278-1707
• e-mail to surplusp@iupui.edu

Surplus does pickups once a week (mostly on Tuesdays) and they will work with your organization to get your surplus property moved out in a timely manner. For more information regarding IUPUI Surplus see the IUPUI Purchasing web site at: http://www.surplus.iupui.edu/

If an item is sold at the IUPUI Surplus auction, unless otherwise noted, the item would need to bring a purchase price of more than $500.00 before the organization would receive any funds from the sale. There are fees associated with the auction transaction so the actual deposit back to the organization would be net sales less 20%. The net proceeds will be deposited into the organizations account via a cash receipt document.

When transferring a capital asset to surplus stores on the Indianapolis campus, please enter the following information on the Asset Transfer Document:

• Set the receiving account number to 1274204.
• Set the campus code to Indianapolis.
• Set the building number to IN341.
• Set the room number to 103.

Northwest, South Bend
For the Northwest and South Bend Campuses contact the campus purchasing department for disposition of surplus equipment.

3. Interdepartmental Sale of Equipment

When there is an interdepartmental sale of equipment, a Transfer of Funds Document will also need to be processed as well as an Asset Transfer Document.

The Transfer of Funds Document is used to record a sale of capital equipment between Indiana University organizations. The Transfer of Funds Document should be used when the original purchase was coded with a capital object code.

When the equipment is purchased using expense object code 5323 CAP Equipment for Resale the asset is capitalized using the Internal Billing Document.

For capital assets the Transfer of Funds Document is the only document that will not create a duplicate asset, or overstate the asset and therefore the only document that can record an interdepartmental sale of equipment.

In the "From" section of the document use the transfer-out (Expense) object code 9970 Trsfrs of Funds Capital.

In the "To" section of the document use a transfer-in (Contra Expense) object code 9915 Trsfrs of Funds-Revenue.

Capital Assets must have an acquisition value of at least $5,000 and a useful life expectancy of one year or greater.

Equipment. The term "equipment" includes delivery equipment, office equipment, machinery, furniture and fixtures, factory equipment and similar fixed assets.