William and Mary

Office of Procurement



Departments & Offices » Procurement » Fixed Assets Management

Fixed Assets Management

Fixed Assets Management, a function of the Office of Procurement, maintains separate offices on each campus (the College and VIMS).

The Fixed Assets Management staff manages surplus property and all financial reporting of fixed assets including equipment, land, buildings, infrastructure (sidewalks, exterior lighting, piers and docks, etc.), construction-in-progress, and leased or lease/financed equipment. Fixed Assets Management also manages all disposals of surplus property.  Surplus property that is not needed for re-use within the agencies is disposed of by various means of public sale (i.e. sealed written bid, electronic surplus bid site at GovDeals.com).  Surplus property determined to be "scrap" is sent to the landfill.  For further information please use this link:  Policies for Fixed Assets and Surplus Property. 


Equipment Managers

 

The Office of Fixed Assets Management maintains a database of the Custodians’ assignments of Equipment Manager (formerly called Property Administrators) in each department.  This list of departments, along with current EM assignment, Custodians and a count of tagged assets, may be reviewed by accessing W & M and VIMS Equipment Manager List.  If any changes need to be made, please go to the FY2012 Physical Inventory Contact Information and complete the online form.  NOTE: Please use your MyWM username and password to access this secure online form.  For inventorying departments with a large volume if items, the form allows for 2 additional Equipment Manager assignments.

 

  

Storage of Surplus Items
 

The Fixed Assets Management Team accepts surplus items by appointment only. Furniture items are accepted at 4010 Ironbound Road Mini Storage if delivered by departments on Tuesdays by appointment. Electronic equipment, computers, monitors, printers and scientific items are accepted on Tuesdays if delivered by departments to 301 Tennis Court Road by appointment. Please contact Debbie Acheson at 757-221-2055 or by email [[djache]] to schedule an appointment. Please forward completed Equipment Transaction Form by email when scheduling an appointment.

Procedure for Removal of Surplus Property 
All College property considered to be inadequate, excess or unwanted by the owning department should be disposed of as surplus property. An Equipment Transaction Form (ETF), declaring the item as surplus, must be completed and forwarded to Fixed Assets Management for final approval. An ETF form is to be completed for each type of removal transaction to surplus, whether the transfer is to be by the department or by Facilities Management Moving and Hauling. Once Fixed Assets Management receives the completed ETF form, removal of the item(s) will be scheduled and the owning department will be notified. For further information regarding surplus property, please contact Debbie Acheson (757-221-2055).
 

All equipment with a purchase value of $5,000 and greater is capitalized and required by the Commonwealth's Department of Accounts to be maintained in the Banner fixed assets system. In conjunction with the Small Purchase Charge Card (SPCC) program, please complete and submit an Equipment Transaction Form for all items with a purchase value of $5,000 or greater that have been relocated, lost or stolen, transferred or traded in. The equipment can then be updated in Banner Fixed Assts System. Contact Faith Smith (757-221-2056).

Fixed Assets Management Forms:

Equipment Transaction Form (Exhibit E)(pdf)
Equipment Transaction Form (continuation)(pdf)
Equipment Manager Assignment Form (pdf)

Fixed Assets Management Contacts:


Staci M. Longest
Associate Director, Procurement and Fixed Assets Management
757-221-3960
[[smlongest]]

Annette B. Washington                                       
Senior Fixed Assets Management Technician
757- 221- 2052
[[abwash]]

Deborah J. Acheson                                      
Administrative Specialist, Surplus
757- 221- 2055
[[djache]]

Faith Smith                                      
Administrative Support, New Assets
757- 221- 2056
[[ffsmit]]

You may also contact us by fax at 757- 221- 3959.