State Property

Statement of General Policy (Fixed Asset Reporting)

All universities are required to maintain a complete and current inventory list of each property item which costs $1,000.00 or more unless the items purchased fall within the groups listed below. These items will be reported as equipment regardless of their purchase value:

Office Equipment & Accessories (Over $1,000) Over $1,000 Two Way Radio Equipment Any Cost
Typewriters Over $1,000 Televisions/Video Monitors (Over $250) Over $250
Dictating Equipment Over $1,000 Tape Recorders Over $1,000
Motorized Vehicles Any cost Cameras &Camera Equipment (Over $250) Over $250
Pick-Up Trucks Any cost Scientific Equipment (Over $1,000) Over $1,000
Vans Any cost Weapons Any cost
Farm Equipment (Over $1,000) Over $1,000 Other Equipment (Over $1,000) Over $1,000
Chain Saws Any cost Cellular Telephone/Satellite Phone Any cost
Tractors Any cost Lawn Maintenance Equipment Any cost
Air compressors Any cost lawn mower
Welding Machines Any cost edger/weedeater
Generators Any cost blower
Medical Equipment (Over $1,000) Over $1,000 Hand Power Tools Over $1,000
Computer & Computer Equipment (Over $250)* Over $250 Appliances Over $1,000

    *Computer monitor inventoried with computer
  • hard drive
  • handheld computer
  • printer/multi-function printer

This list is updated annually by the Office of the State Auditor. Updated lists will be maintained on the Receiving & Property Control website and emailed to all University Departments

The fixed asset reporting system has two major functions. It provides statewide information applicable to property (fixed assets) owned by each state agency and it ensures that the agencies are reconciling their financial records with the records of the Office of the State Auditor, Property Division.

Primary Inventory

Primary Inventory includes all equipment purchases of $1,000.00 or more that are required to be numbered and included on the property inventory list of the University and reported to the Office of the State Auditor, Property Division. Also included are the exception items (See Statement of General Policy) that are included regardless of purchase value. It is the responsibility of each department to attach inventory tags to all primary inventory items in areas where they can be readily seen without having to move the item for identification

Secondary Inventory

Secondary Inventory includes all other equipment, furniture, etc., costing less than $1,000.00 and not required to be included on the departmental equipment inventory. It is the responsibility of each department to identify these items with a Property of Mississippi State University@ label. These labels can be obtained by contacting Receiving & Property Control. Although these items are not accounted for through the Office of the State Auditor, Property Division, departments are responsible for keeping up with this equipment and should use the same procedures when disposing or transferring this equipment.

Reporting Requirements

Section 29-9-1, Mississippi Code of 1972, Annotated, requires that all agencies and universities maintain a complete current inventory list of each property item. A report documenting any additions and/or deletions shall be submitted to the Office of the State Auditor, Property Division, no later than the 15th of each month.

Audit Requirements

Section 29-9-13, Mississippi Code of 1972, Annotated, requires that the Office of the State Auditor shall make regular audits of the different state agencies, shall reconcile all invoices and records with the agencies' property inventories and shall make a check or physical audit of the actual items or properties shown on their inventories and related records. It is the responsibility of the University to furnish a competent person or persons to assist in this physical audit

University Equipment Requirements

In order for the University to comply with the regulations set forth by the State of Mississippi, a joint effort between University departments and Receiving & Property Control is required.

Receiving & Property Control

Receiving & Property Control maintains the official equipment inventory for the University. Receiving & Property Control submits to the Office of the State Auditor, monthly transactions reports by the 15th of each month. Additional responsibilities of Receiving & Property Control include, but are not limited to, the following:

  • Maintain and improve the system which provides accountability for equipment, land and buildings owned and/or acquired by the University,
  • Coordinate the reporting of all equipment additions and deletions to the Office of the State Auditor, Property Division,
  • Record, verify and deliver incoming and outgoing freight to and from the University,
  • Coordinate the disposal and/or redistribution of surplus state equipment,
  • Coordinate all equipment audits,
  • Design and improve systems that will allow departments to better fulfill their equipment responsibilities,
  • Ensure that adequate precautions are in place to safeguard University assets.
  • Provide training for proper acquisition and disposal procedures for all departments.

Department

Department heads are responsible and accountable for all equipment listed on the department's inventory record. Additional departmental responsibilities include, but are not limited to, the following:

  • Report all new equipment purchases in a timely manner upon receipt of the equipment,
  • Report any missing/stolen equipment in a timely manner,
  • Tag all equipment in a manner consistent with state regulations,
  • Request the disposal of any excess equipment,
  • Perform equipment self-audits,
  • Assist in the completion of periodic audits conducted by the Office of the State Auditor or by Receiving & Property Control.

General Procedures

Personal Use of Equipment

It is University policy that personal use of State or University-owned or leased equipment, supplies or materials is prohibited. All equipment, supplies or materials, however acquired by the State or the University are considered to be State/University-owned. Questions regarding this policy should be addressed to Procurement & Contracts

Temporary Out-of-Office Use of Equipment

Out-of-Office is defined as any location other than the primary workspace, i.e., on your person, a university-owned vehicle, personal residence, personal vehicle, private shop, private lab, private office, etc. When it is necessary to remove equipment from the assigned department in order to conduct official University business, a hand receipt documenting the move should be kept on file by the department. The hand receipt is valid for one year only. Renewal of a hand receipt requires that the departmental property custodian physically view the item(s) and sign/date the renewal hand receipt along with the primary user of the equipment.
Hand receipt forms are available in the Forms section of this website.

Marking of Motor Vehicles

All State vehicles, owned or leased by any agency of the State, shall have a permanent decal or be painted on both sides of the vehicle in letters at least three (3) inches in height and on the rear in letters not less than one and one-half (1 1/2) inches in height, stating the name of the state agency. The marking must be in a color which is in contrast with the color of the vehicle. This is set forth in Section 25-1-87, Mississippi code of 1972, Annotated.
The MSU Printing Department will provide and apply Mississippi State University decals to all new vehicle acquisitions. The contact information for The Printing Department:

Phone: 662-325-2251
Fax: 662-325-8263
Email: MSUPrinting@printing.msstate.edu

Physical location: MSU Printing Services
Corner of Old HWY 82 & Old West Point Road
421 Dr. MLK Jr. Memorial HWY East
Starkville, MS 39759

Mailing Address:MSU Printing Services
PO Box CD Mississippi State, MS 39762

Hours of Operations are 7:30 a.m. - 5:00 p.m.
MSU MAIL STOP 9608