Acquisition of Property

The University acquires property through the following various methods:

• Purchase
• Donation
• Inter-Agency Transfer

Purchase acquisitions are made via purchase order or procurement card.  Acquisitions of property purchased fully with University Funds are deemed University property.  Acquisitions purchased fully with Foundation or other auxiliary funds are not deemed University property.  When a purchase of an inventory item is made by the University and an Auxiliary, ownership will be determined by the Property Management with the department and auxiliary.

Donations are acquired per the University Advancement and require submittal and approval of the Proposed Acceptance of Gifts in Kind.  Contact University Advancement if you have any questions regarding the Gift-In-Kind Policy.