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Asset Disposition Form

The Accounts Payable Office is responsible for updating and maintaining the fixed assets system that is an online real-time inventory system for the capital assets of the University. To maintain the accuracy of the system, Accounts Payable must be notified regarding movement of equipment both internally and externally. This is accomplished by using the Asset Disposition Form. The information supplied to the Accounts Payable Office enables us to remove the asset from inventory following generally accepted accounting principles. A copy of the form is available through the Accounts Payable Office (X3-9676).

1. Describe Asset: Provide a detailed explanation of the capital asset. This item must be completed.
2. Originating Division/Department Name: Indicate the division and department that owned the equipment.
3. Department Charge Code: Indicate the seven-digit department account number of the originating department.
4. TJU Bar Code Number: Indicate the ten-digit alpha/numeric bar code number, if applicable. This method is only used to identify JMC movable equipment.
5. Manufacturer: Indicate the company responsible for producing the asset.
6. Model Number: Provide the model number assigned to a capital asset by the manufacturing company. This identifies specific features of the product.
7. Serial Number: Provide the serial number assigned to a capital asset by the manufacturing company. This identifies the specific unit.
8. Location: Provide the building, floor and room number where the asset was located.

9. If applicable: indicate the method of disposal by checking the appropriate box.

10. Sold to: Provide the division/department or the name of the person to whom the asset was sold.
11. Date of Sale: Provide the date on which the asset was sold.
12. Amount Received: Provide the amount received from the sale of the asset.
13. Deposited to: Provide the department that will get credit for the sale.

14. Trade-in Value: Provide the amount of credit given for the asset at the time of the trade-in.
15. Item Received in Trade: Provide a description of the new asset that was received in exchange for the old asset.
16. Manufacturer: Provide this information for the new asset that was received in exchange for the old asset.
17. Serial Number: Provide this information for the new asset that was received in exchange for the old asset.
18. Model Number: Provide this information for the new asset that was received in exchange for the old asset.
19. TJU Bar Code: Provide this information for the new asset that was received in exchange for the old asset.

20. Transferred to: Provide the division number, department number, building, floor and room where an item has been transferred. This applies to items transferred to another department or within the same department
21. Form Completed by: Provide the name and telephone extension of the person completing this form. This individual will be contacted for more information if necessary.
22. Authorization: Obtain the signature of the department head or an authorized representative.

See a Sample of the Asset Disposition Form