GENERAL PRINCIPLES - Shivaji University
GENERAL PRINCIPLES - Shivaji University
GENERAL PRINCIPLES - Shivaji University
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(ii)<br />
Fair wear and tear.<br />
(iii) Lack of foresight in regulating the purchases.<br />
(iv) Neglect after purchase.<br />
(v)<br />
Losses not due to depreciation shall be grouped as:-<br />
(a) Losses due to theft or fraud.<br />
(b) Losses due to neglect.<br />
(c) Losses due to natural (an act of God) and other calamities, e.g. fire,<br />
enemy action, etc.<br />
(d) Anticipated losses on account of surpluses of obsolete stores or of<br />
purchases in excess of requirements and<br />
(e) Other losses due to damage etc.<br />
(5) Personally Owned Equipment<br />
None of the <strong>University</strong> employee should keep personally owned equipment on<br />
campus without prior permission from Hon’ble Vice Chancellor & it shall be<br />
identified as the property of the owner. The <strong>University</strong> is not responsible for loss<br />
or damage to the equipment.<br />
4.16 DISPOSAL OF EQUIPMENT/MATERIAL<br />
(1) Rules of the disposal of stores rendered unserviceable<br />
The result of physical verification shall be communicated to the Stock Verification<br />
Section & the concerned Department / Section together with a list of stores as are<br />
found deficient, obsolete and unserviceable (declared by competent authority) in<br />
the form prescribed below:-<br />
1. Sr. No.<br />
2. Description of article<br />
3. Ground balance<br />
4. Ledger Balance<br />
5. Shortage or Excess<br />
6. Value of shortage or excess<br />
7. Number of articles found obsolete or unserviceable and their value<br />
8. Remarks.<br />
A statement shall be attached in support of Sr. No. 7.<br />
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