All goods purchased with University of Prince Edward Island funds are the property of the University. This includes purchases made with research, PDA and other grant funds.

The responsibility of the control of the assets rests with the Procurement Services Officer except as noted:

• All AVC equipment valued at amounts over $1,000 is controlled by the Department of Biomedical Engineering.
• The Audio Visual department maintains records of the purchase of audio visual equipment; in addition Procurement Services maintains a separate record and has available a detailed list. When audio visual equipment is purchased by individual departments, Procurement Services send a copy of the purchase order to the Audio Visual department, which is equipped with the proper supplies to service the equipment. Non-numbered identification tags stating "Property of UPEI" will be made available to the individual department upon request.
• Purchase orders generated for any computer-related equipment are processed through the Procurement Office. ITSS is responsible for tagging any computer related equipment and the maintenance of a database for tracking purposes.

Equipment valued at $5,000 and over is classified as large assets and is tagged with numbered stickers for identification purposes. Equipment valued under $5,000 is considered part of the small asset list and are tagged with a generic tag stating "Property of UPEI".

Procurement Services is also responsible for the sale of surplus assets. Funds from the sale of surplus assets are recorded as the revenue of the University. To find out the types and availability of surplus assets, please contact Kevin Rogers.