Frequently Asked Questions

Many of the inquiries posed to the Asset Management staff are questions that are common problems among all departments.  This section will answer many of the frequently asked questions and provide some useful, but relatively unknown points about the Asset Management and the Fixed Assets System.
 
How do I fill the FX form to remove surplus?
 
To remove surplus equipment and supplies you must fill out the Fixed Asset Disposal Request (FXDR) form.  Written instructions are available to assist departments with its completion.  The form is completed with the custodian name and number, asset tag number, if applicable, the item nomenclature, serial number, location, condition code, reason for disposition, original value and current value.  The department must indicate the means by which they wish to dispose of the items in on the disposal form.  They must also provide a contact person with campus phone number and address for informational purposes and as the point of contact for Physical Plant Surplus when scheduling disposal pickup.  This is also the departmental staff member who should be present to assist Surplus staff when they arrive at the department for surplus pickup. The releasing department must obtain the Department Head and Dean's or Director's signature for the releasing department certification.
 
Fixed Asset Disposal Request forms are available online at bam.okstate.edu/asset-management.
 
 
What are condition and removal codes?
 
Condition codes describe the condition of the equipment being surplused.  If the person completing the FXDR form is not aware of the equipment's condition, they should seek the help of someone in their department who has worked with the equipment and is familiar with its condition.  The removal code tells if the equipment is lost, stolen, surplused, salvaged, traded-in, stolen, sold or should be returned to title holder.
 
 
What values do I use on the FXDR form?
 
For equipment that is currently listed on a department's inventory, the original value is the original acquisition price of the equipment.  This figure appears on the departmental inventory list.  The current value is the original value less accumulated depreciation.  For items not on Fixed Assets, an estimation should be based on what the current market would bear for a similar piece of equipment.
 
 
What if no inventory number exists, how is it removed from inventory?
 
If there is no inventory number on a piece of equipment and it does not appear on the departmental inventory list, it probably does not meet the capitalization requirements.  That does not override the requirement of reporting the department's request to dispose of equipment.  The OSU Policies and Procedures Letter 3-0126 states that ALL equipment, surplus supplies and materials must be reported on the removal section of the FXDR form and Board approval must be obtained before its disposal.  The Policies and Procedures letter also states that under NO circumstances should equipment be thrown away.  Exceptions to this will be decided by the Assistant Director, Asset Management.
 
 
When a department purchases an accountable piece of equipment and has been added to FX, what should take place if the equipment is returned to the vendor?
 
The department is responsible for notifying Asset Management of the equipment return via a FXDR form with the removal section completed.  A copy of the credit invoice provides an excellent audit trail for this removal.
 
How often do you have auctions?
There are usually three to four different live auctions held each year.  One auction is the Physical Plant surplus auction held approximately every three months.  This is where equipment removed for disposal by the Physical Plant is sold.  Another auction is the Police Department auction.  This auction handles unclaimed or lost property that is given to the Police Department and remains unclaimed after a certain prescribed time.  The last auction that Asset Management routinely holds is the Vehicle auction.  This auction allows departments with vehicles a chance to sell them and upgrade their fleet with newer models.  Vehicles are also sold through sealed bid, but the majority of them are sold through the vehicle auction.  Online auctions are a newer and more frequently used means of public auction.  Online auctions sites that are most frequently used are Public Surplus.com, Purple Wave.com, and GovDeals.com.  These are held as departments request them.
 
 
Can departments get equipment from the surplus warehouse and is it free?
 
Departments are allowed to obtain equipment from the Physical Plant warehouse. Departments interested in this should may visit the Physical Plant Surplus Warehouse from 1 to 3 p.m. every Thursday afternoon or by appointment for a visit. Visits made outside of these guidelines are discouraged and may not be accommodated.
 
If an item appears on the monthly list of surplus, you should contact the departmental representative regarding their surplus.  They will be able to tell you if it is located on site or if it has been moved to Physical Plant.  The equipment is usually free unless you utilize Physical Plant services to deliver your selections, then your department is responsible for the work order charge.  If the department surplusing the equipment indicates they wish to sell by Ebay or sealed bid, you may have to negotiate a selling price.  That decision is left to the disposing custodian.  Items chosen from the Surplus warehouse by a department must be removed within 48 hours after equipment selection unless special arrangements are made with the Surplus warehouse staff.
 
 
How do I get a piece of surplus equipment removed from my department?
 
A FXDR form needs to be completed, signed by the Department Head and Director or Dean and sent to Asset Management.  If equipment containing electronic storage media is being disposed, a decommissioning form must accompany the FXDR for indicating that the storage media has been removed or handled appropriately.  The removal request will be presented on the monthly Report of Surplus Equipment which is distributed to all University departments and all of the A&M schools. As disposal requests are received, Asset Management notifies Physical Plant weekly of the items to be moved to the surplus warehouse.  Physical Plant Surplus staff will contact the department point of contact to establish an appointment to remove surplus equipment and deliver to the Surplus warehouse.  Surplus staff depends on the accuracy of the departmental point of contact to schedule pickups and to be present when they arrive to help coordinate the removal of the surplus items shown on the list.  If the departmental point of contact is not available, this could delay the removal of surplus from the department.  Departments should be aware that the Surplus staff can only remove items shown on the disposal form(s) they have been provided.  NO ADDITIONAL ITEMS can be added to the disposal forms from which Surplus works.  A new disposal form, following this disposal process must be submitted to Asset Management.
 
 
What is the process for a sealed bid?
 
A FXDR form requesting removal of equipment and disposal by sealed bid should be completed, signed by the Department Head and Director or Dean and submitted to Asset Management.  Once the items are included on the Report of Surplus Property, submitted to the Board of Regents and approval for disposal is granted, Asset Management will assign a sale number, closing date and time, prepare bid sheets to be distributed to potential bidders and prepare and submit advertising in four different area publications.  From the time the sale number is assigned, it takes approximately three weeks for the sealed bid to be completed and bids opened at a publicly advertised time.  On the closing day, the bids are opened at the publicly advertised closing time and tabulated.  The department selling the equipment will be notified of the bids and will make the decision to accept or reject the high bids.  If the bid(s) is accepted, Asset Management is responsible for preparing award letters collecting and depositing sale proceeds as directed by the department, remitting sales tax, notifying department of copying and advertising costs and preparing an official OSU receipt for the high bidder when he or she pays for their purchases.
 
 
Can I call Physical Plant Trucking Services to pick up surplus equipment?
 
No. They will direct your call to Asset Management.  As earlier stated, a department is responsible for following Policies and Procedures in submitting a FXDR form requesting disposition of surplus equipment.  As Asset Management receives disposal requests, they notify Physical Plant weekly of the items to be removed.  Departments should be responsible in planning for the removal of equipment and allow enough time for the necessary procedures to be followed.
 
 
Can my department deliver equipment to the Physical Plant Surplus warehouse?
 
Yes, but only if the department has followed the proper procedures for disposition of surplus equipment and delivery times are scheduled with Surplus staff.  This should still be coordinated through Asset Management.
 
 
Do these broken or inexpensive items have to be included on the monthly surplus list provided to the Board for disposition?
 
Yes.  Policies and Procedures Letters 3-0125 and 3-0126 address the grounds for accountability of equipment and its disposal.
 
 
If a piece of departmental equipment has been stolen, how can I remove it from my departmental inventory?
 
In order to remove stolen equipment from a department's inventory, a police report must be filed and a copy of the report must be submitted with the FXDR form requesting its removal.  If no police report is attached, a note is placed on the FXDR of the absence of a police report and the piece will be removed as lost.  This may cause problems if a department tries to replace the stolen equipment, but no police report is filed.  Another point that should be mentioned about lost or stolen equipment is that the appropriate dean must be notified and he, along with the department head, must sign the FXCR.  If the department does not report to a dean, the Vice President responsible for that area must sign the FXDR form.
 
 
When a department transfers equipment to another, who initiates the transaction?
 
The department releasing the equipment should initiate the transaction on a FXTR form.  Once the releasing department signs the releasing department certification, the form should be forwarded to the receiving department for completion of the information necessary to add the equipment to their inventory.  The completed form is then forwarded to Asset Management.
 
 
What department name should go at the top of the transaction when equipment is being transferred?
 
The department receiving the equipment becomes the responsible department; therefore, their name belongs in the responsible department space at the top of the FXTR form.
 
 
What is the procedure when trading in a piece of equipment?
 
There are two processes that should be followed.  First, on the invoice for the new equipment, it is very helpful to have the inventory number of the equipment being traded-in listed.  Next, the department should complete a FXDR form removing the equipment that is traded-in and it is helpful to Asset Management to include on the FXDR form the Requisition or Pcard transaction identifier number of the new piece of equipment being purchased.
 

Fixed Assets Contact Information

Budget and Asset Management, 210 Whitehurst
 
Suzanne Frits
405-744-6787
 
Kathie Parham
405-744-8499
 
Beka Welch
405-744-7583
 
 

Physical Plant Surplus Warehouse

Dan Webb
405-744-7648
 
Daniel Alexander
405-744-7163