Central Receiving/Property/Fixed Assets - General InformationThe Central Receiving/Property Management/Fixed Assets Department provides for the receipt, delivery, recording, control, and removal of merchandise and equipment on campus. Capital equipment is defined per The CUNY Capital Asset Policy, which has established capitalization thresholds and designated useful life of assets. All Property information is entered into the Asset Management System; the records are maintained throughout the equipment’s/item’s recordable life cycle.Contact Information: Location: Room P-105Phone number: 718-368-5121 Mail code: PO
Property Office Hours:
Monday – Friday 8 am - 4 pm
Central Receiving Hours:
Monday – Friday 8am - 12 pm and 1:00 pm – 3:30 pmCentral Receiving Department
The Central Receiving Department receives, ships, checks, records, distributes and/or stores all order arrivals, and works closely with Procurement to assure the accurate receipt of items for distribution to the campus community. The Central Receiving Department provides for incoming shipments and temporary warehousing of inventory awaiting campus delivery, maintains the college’s warehouse, provides administrative offices with general office supplies, administers shipping outside of college via approval by the VP of Finance and Administration, maintains the UPS Log, and assists in the salvaging and disposing of equipment.
Property/Fixed Assets Department
Property Department operations ensure the accountability and control of all computers, equipment, furniture and other sensitive items across the college campus. In collaboration with Procurement, Accounts Payable, and other Departments, the Property Department confirms the receipt of equipment, physically tags equipment, and conducts an annual college-wide physical inventory.Fixed Asset activities include performing quarterly reconciliations and meeting other reporting requirements, administering and controlling the tagging process in accordance with The CUNY Capital Asset Policy expense thresholds, and identifying unique, sensitive items in our overall efforts to strengthen the accountability and control of all college equipment/items. This department oversees the college-wide annual physical inventory, and continuously strives to ensure robust leadership in adherence and compliance with CUNY’s Capital Asset Policy, controls, and standards. Primarily with college business partners - Buildings & Grounds, Environmental Health & Safety, Information Technology Services, and Public Safety – the Fixed Assets Department leads efforts to ensure the location safeguard, proper transfer, and removal of obsolete/non-salvageable items from the college’s inventory.All campus site deliveries are to be brought to the attention of the Central Receiving/Property Department to ensure proper accounting for the purchase, control, and recording of college items. Departments receiving site of delivery equipment/items that should be tagged, or that are unique sensitive items, should contact the Property Dept. to arrange for the equipment/items to be tagged and recorded in our Asset Management System.
Capitalization Category Thresholds
General Office Supply Orders
Director of Administration – ensures adequate controls, processes, and systems are maintained for efficient department operations and service delivery to the college campus community.Fixed Assets Administrative Manager – provides leadership control for the college’s Fixed Assets; oversees the Central Receiving/Property Department; maintains control and distribution of Tags; enters CUNYfirst Equipment Data for items classified as Fixed Assets; oversees and ensures adherence to the CUNY Fixed Assets Disposal Policy; and prepares Quarterly, Annual and other Reports.Supervisor of Stock Workers – directly oversees and supervises work assignments for stock workers, establishes and maintains procedures for the receipt and delivery of all items purchased by the college, oversees major shipments, organizes and performs annual inventory of Central Receiving Warehouse, maintains departmental inventory of general college office supplies, resolves operational Central Receiving and Property issues, performs Quality Control of Central Receiving/Property’s CUNYfirst data entries, oversees physical tagging, ensures items requested for disposal/salvage comply with CUNY Fixed Assets Disposal Policy, and reports to the Fixed Assets Administrative Manager.Stock Workers – receive UPS/FedEx shipments, create and generate delivery receipts in CUNYfirst, complete equipment data forms, deliver/pickup/store bulk or unique items to/from campus departments under the direct leadership of the Supervisor of Stock Workers.
Property Custodians – are individuals within a department who are responsible for maintaining the location and ensuring the safekeeping of the equipment/item.General Office Supply Order FormSupply orders are placed bi-monthly (by the first day of the month and the fifteenth day of the month) for distribution the following week. The orders are placed online by using the General Office Supply Order Form. Please order what you need. We supply the entire campus, so please make certain your requests are reasonable. Only merchandise listed on the General Office Supply Order form is available. Any other merchandise has to be ordered through your Staples Account.
Business ProceduresPropertyTo facilitate proper service from the Property Office, the following procedures must be followed:
No personal shipments or deliveries will be accepted or shipped by the Property Office.
No orders will be accepted by the Property Office without a Purchase Order number issued by the Purchasing Office or any accredited city, state, or government agency.
Correspondence without a purchase order number will be forwarded to the mail room for distribution.
Orders placed through the Purchasing Office, Research Foundation, KCC Association, DASNY, or CUNY Central must be received only by the Property Office. Orders received or picked up personally without going through the Property Office will not get the authorization of receipt required by the Accounts Payable Office. THE BILL WILL NOT BE PAID. This also prevents the Property Office from tagging and accounting for property that has to be recorded in the City University database.* Special Exceptions: Unique, department required campus-site deliveries.
The Supervisor of Stock Workers is responsible for overseeing the physical affixing of tags on moveable equipment and for indicating on the CUNY Equipment Input form the tag number assigned to the asset or that the asset should be identified as “Untaggable.” This form is then forwarded to the Fixed Asset Administrative Manager for entry in the Asset Management System.
Capitalization Category Thresholds
CUNY has established the following capitalization thresholds for individual capitalizing assets:
Class of Asset
Furniture and Fixtures
Works of art/historical treasures
Construction in Progress(capitalized until substantially complete)
Relocation/TransferEquipment/items may be transferred to another campus department or CUNY campus via completion of an Equipment Relocation/Movement form. When equipment/items requires re-locating to another campus Building/Floor/Room, the Department Head/Chairperson releasing the equipment/item for transfer initiates an Equipment Relocation/Movement form, signs the form and the receiving Department Head/Chairperson will then sign the same form once the equipment/item relocation process has finalized. The original signed form is then forwarded to Fixed Asset Administrative Manager to enter updated location and custodian information in our Asset Management System. If the relocation/transfer is inter-departmental, the Department Head/Chairperson signs for the relocation/transfer.
SalvageOur salvage processes are governed by the CUNY Fixed Assets Disposal Policy. Property that have reached the end of their life cycle, are fully depreciated, worn out, damaged, obsolete, outdated, or which are no longer useful, except for vehicles, may qualify for disposal or salvage. If items are usable but no longer needed, they may be transferred for reuse within CUNY, donated, cannibalized, provided to the NYC DCAS in accordance with the guidelines of the CUNY Fixed Assets Disposal Policy.No equipment/item may be salvaged or disposed by yourself or by your department without the proper authorization and completion of the Equipment Disposal form. This form may be obtained here. Department Heads (or designee) will initiate the salvage/disposal process by completing an Equipment Disposal form. Prior to the removal of an equipment/item for salvage/disposal, the respective Department will work with the Environmental Health and Safety Department to ensure proper treatment of electronic equipment disposal due to potential levels of environmentally harmful and hazardous materials, and/or with IT to ensure all college data, programs, and all licensed software have been completely removed via certification by our CIO.Once the Equipment Disposal form is completed and submitted to the Property Office, and the equipment/items identified for salvage/disposal are ready for pick-up, the Property Office will pick up small electronics/equipment; otherwise Buildings and Grounds will pick up the equipment/items and deliver to the Central Receiving/Property Warehouse where the Tag # and all college identifiable tags will be removed. The Administrative Manager of Fixed Assets will sign off on the Equipment Disposal form once the items have arrived at Central Receiving/Property and are ready for disposal/salvage.Fixed Asset Disposal Definitions
DepreciationDefinition Depreciation is the process of allocating the cost of tangible property over a period of time, rather than deducting the cost as an expense in the year of acquisition. Generally, at the end of an asset’s life, the sum of the amounts charged for depreciation in each accounting period (accumulated depreciation) will equal the original cost less the salvage value. Good accounting and financial management practices require that a University take both the cost expiration and the declining value of an asset into consideration.
Salvage Value The salvage value of an asset is the value the asset expects to have when it is no longer useful for its intended purpose. In other words, the salvage value is the amount for which the asset could be sold at the end of its useful life. CUNY will not be assigning salvage value for capital assets.
Estimated Useful Life Estimated useful life means the estimated number of months or years that an asset will be able to be used for the purpose for which it was purchased. Capital assets should be depreciated over their estimated useful lives.
Designated Useful Lives
Construction in Progress
Full-Year Convention To avoid the complications of depreciating each asset from the specific date on which it was placed in service, various assets are placed in service or disposed of at designated dates throughout the year, and to this end, CUNY has elected to use the full-year convention.
Under a full-year convention, property placed in service at any time during the given year is treated as if it had been placed in service at the beginning of the year. This allows depreciation to be taken for the entire year in which the asset is placed in service. If the property is disposed of before the end of the estimated useful life, no depreciation is allowed for the year of disposition. Depreciation data will be calculated and stored by the Office of the University Controller for each eligible asset. Accumulated depreciation will be summarized and posted to the accounting general ledger.
For general capital assets, depreciation is reported on university-wide financial statements only.