GENERAL PRINCIPLES - Shivaji University

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• the equipment shall be properly tagged, and bar code labels or permanent
markers are on the equipment.
• a check-out/check-in system shall be introduced for departmental equipment.
• A security room or closet shall be used to store the items.
• Departments/sections may assign a responsible person to perform interim
inventories to ensure adequate property control.
4.14 INTERNAL TRANSFERS, RELOCATION AND LOAN OF EQUIPMENT
It is the responsibility of the department / section to notify Property Co-ordinator
of all relocations of equipment items as follows:
(1) Relocation of Entire Department
After department relocates, the department shall conduct a complete physical
verification of inventory and tally with the Dead Stock Register/Stock Register.
(2) Inter-Departmental Transfers
Equipment shall be transferred between department/section, with approval of
HOD/Director/Coordinator/Rector/Dy.Registrar/Asst Registrar of the department/
section. The transfer slip must then be forwarded to the department who has
accepted the equipment. This department must record the new location(s) of the
equipment. The HOD/Director/Coordinator/Dy. Registrar/ Asst. Registrar of the
department / section of the receiving department must also sign the slip for
acknowledging the receipt. The completed slip must be forwarded to Stock
Verification Section. Stock Verification Section shall then update campus inventory
records to reflect the transfer.
(3) Loans of Equipment
Loans of University Equipment from One Department to Another:
If equipment is loaned to another department for a short period, a memorandum
of the transaction shall be filed in the lending department.
(4) Surplus Property:
Departments or operating units having excess / surplus equipment and property
shall declare the excess & surplus stock and permit Stock Verification Section /
University Store Section to relocate the items.
4.15 PHYSICAL VERIFICATION OF STORES AND STOCK
It is essential to conduct a physical verification of stock periodically in view of the
considerable expenditure involved in the purchase of furniture and equipment. To
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