Capital Assets - Gifts-in-kind
REG 07.30.13
Financial Reporting and Accounts Receivables
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Authority: Vice Chancellor for Finance and Business
History: First Issued: November 1, 2001.
Additional References: University Controllers Website
Contact Info: University Controller (919-515-3824)
1. Purpose
This statement explains the procedures for reporting equipment and other
assets donated to the University.
2. General Guidelines
All capital assets which are donated to the University must be included in
the Capital Assets Management System (CAMS) inventory. It is the responsibility
of each college/department to notify the University Development Office when
equipment and other assets are donated to the University.
3. Procedures
When donated items are received by colleges/departments, the pertinent sections
of the Notification of Gift Form (BA-151) must be completed and forwarded
to the University Development Office. The Development Office will record the
information on its records and forward a copy of the gift form to the CAMS
Office. This data is required in order for CAMS to properly tag and account
for gifts on the University's inventory.
4. Form
Form BA-151, Notification of Gift, may be obtained from the Office of Institutional
Advancement.
5. Instructions for Completion of Form
5.1. Notification of Gift
5.1.1. Enter date the form is completed.
5.1.2. Enter name of donor.
5.1.3. Enter contact person information, if applicable.
5.1.4. Enter donor's mailing address and indicate whether address is home or
business.
5.1.5. This section is not applicable for equipment or other non cash gifts.
5.1.6. Enter description of gift, value, and how the value was determined (attach
appraisal if applicable). Also enter the college or department which received
the gift.
5.1.7. Complete receipt information as applicable.
