GENERAL PRINCIPLES - Shivaji University

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gift is properly acknowledged and recorded, using estimated fair market
value on the date the gift is received for acquisition cost.
b) Transfers of Equipment to the University
All requests for transfers of equipment to the University must be in writing and
approved by the concerned authority and necessary entry to be made in the
respective registers.
4.8 Fabrication
Items fabricated/manufactured by departments (i.e. USIC, CFC, Engineering
Section, Press etc.) may also be recorded as equipment. Acquisition cost shall be
determined based on the cost of materials used, salary and other costs involved
in the fabrication.
4.9 Delivery:
(1) Receiving at Store Section
Equipment/Material delivered to the Store Section shall be recorded before delivery
to user department/section. It shall be the duty of the head of the Store Section
to ensure that the material delivered is as per specifications mentioned in the
supply order.
(2) Direct Receipt at Department
When equipment is delivered directly to a department/section, the department/
section shall prepare inventory records. It shall be the duty of the head of the
concerned Section/department to ensure that the material is as per specifications
mentioned in the supply order and will forward a property record with all information
regarding serial number, current location etc. to the Stock Verification Section.
4.10 Identification of University Equipment
All equipment must be marked or tagged with a unique identification number and
recorded in the property inventory listing. The identification number is applied to
the actual unit unless its size or nature makes it impractical. A tag bearing the
identification number shall be affixed in such a way that it is in plain sight and easy
to read, e.g. on the top left corner or other conspicuous position. Additional
identification required by a department shall be applied in a manner that avoids
confusion with the campus identification number. If the identification number is
accidentally or mistakenly obliterated, defaced or removed, the equipment shall
be retagged with the same identification number if possible. Assigned identification
numbers are recorded on all applicable receiving, shipping, and disposal documents,
and other records that are related to the property control system. Once an
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