WPI Property Manual
Chapter 1 – Property Management at WPI
property record. There are various rules of thumb to follow when recording a custodian. Following are some common scenarios; work with your department management to determine what is best for your area.
The actual user (WPI employee) is listed as the custodian
The business manager is listed as the custodian and the individual employees or positions (i.e.: receptionist) are listed as users
In lab situations, the Principle Investigator (PI) is listed as the custodian and research assistants or graduate students are listed as users
For departmentally used items such as copiers, the key operator or business manager is listed as the custodian
Property Administration at WPI Property management is an important function at the University. Prudent business practices help protect the University's investments in capital equipment, meet government and sponsor requirements, and support indirect cost recovery associated with assets at WPI. Each Dean, Provost, and Vice President is responsible for implementing property administration effectively and compliantly within their division or department by ensuring that the Property Administrator receives full cooperation from end-users and purchasers of property. The responsibility for management of property has been delegated to Property Administrator. Property Administrator's functions are as follows:
Managing and Maintaining the WPI Property Management System
Monitoring for compliance with sponsor equipment approval requirements
Monitoring fund approvals of equipment purchases for all grant and contract accounts
Screening for like or substitutable equipment before new equipment is purchased
Generating system reports and property listings
Conducting required physical property inventories
Completing reports of federally-owned equipment and other sponsored project property reports
Assisting in providing WPI departments with guidance involving property management issues (i.e., record keeping Surplus property, moving of equipment, etc.) 7