Part III - UNM Finance: Practical Applications

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Standard Accounting Resource Manual (SARM)

MSC 0000 00
1 University of New Mexico
Albuquerque, NM 87131

Disposition of Property

When an item of property is no longer useful to a department it may be transferred to another University department or disposed of through the University Surplus Property Department. The department that is transferring or disposing of the property is responsible for completing an Asset Adjustment form or the Request for Deletion of Assets form and submitting it to the appropriate office.

When an asset needs to be removed from a department’s inventory for reasons such as theft, trade-in, returned to agency, etc, the department desiring the deletion must file a Request for Deletion of Assets form, along with a memo of explanation.