The University of Texas Medical Branch (“UTMB”) must protect the property within its care. UTMB employees who fail to safeguard UTMB property in accordance with UTMB policy are subject to disciplinary action, including termination.
The property manager for UTMB is the Vice President of Finance or their designee, and at his or her option, the responsibility has been delegated to the director of Asset Management. The UTMB property manager is responsible for maintaining inventory records.
Department chairs or administrative equivalents are Accountable Property Officers, and as such are responsible for all UTMB property in their care and for performing the annual physical inventory for capital and controlled assets at the time and in the manner prescribed by the director of Asset Management. Accountable Property Officers may not delegate this responsibility; however they may designate Asset Managers and Asset Custodians to complete administrative tasks associated with the annual inventory process.
UTMB’s general revenue funds, General Revenue-Designated, or other funds appropriated will be reduced if an unacceptable percentage of capital and controlled assets are reported missing at the conclusion of the annual inventory process.
For questions concerning this policy, contact Asset Management. http://intranet.utmb.edu/finance/assetmgt/default.htm
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