Fayetteville Policies and Procedures  324.2 

Property Transfer - Non-Sponsored Programs


This policy discusses the conditions under which University property may be transferred to another entity outside of the University.  Fayetteville Policies and Procedures 324.1 Property Transfer – Sponsored Projects outlines the conditions and procedures for the transfer of property purchased for sponsored projects to another university.  This policy is applicable for all other University property.


Property, as it is used in this policy, is defined as all materials, supplies, furniture, equipment, printing, stationery, and other goods, wares and merchandise whatsoever, regardless of the cost.  Any items purchased with University funds, including private gifts and Research Incentive Funds (RIF), OR equipment donated to the University of Arkansas, is considered University property.

The University, with prior approval of the Department of Finance and Administration (DF&A), may transfer University property when it is determined to be in the best interest of the University.  University property cannot be transferred to another entity at no cost.  An exception may be granted in instances where transfers are made to other Arkansas state agencies or institutions of higher education.  Fair market value will be assessed for items transferred.  The price of equipment will be set or approved* by the Marketing and Redistribution division of DF&A Office of State Procurement.

University officials should seek to ensure that no proposed transfer of property involves any conflict of interest with those proposing or approving the transfer and the intended recipient.   



  1. Prepare a Property Transfer Request form for the proposed transfer of the personal property from the University of Arkansas to the intended Receiving Entity.  If multiple items are to be transferred for the same reason, the Multiple Item Transfer Request may be used.  The following information is required:
      1. Reason for transfer and description of efforts to offer property to other personnel in the department/college and to other departments/colleges at the University
      2. Item description to include make, model, date of purchase, and original cost
      3. Serial number
      4. U of A tag number
      5. Source of funding for original purchase
      6. Name and address of the intended Receiving Entity
      7. Dollar amount offered to the University by the intended Receiving Entity (pending DF&A approval)
      8. Signature of the requestor
  2. Signature approval section must be completed prior to the proposed transfer from the following:
      1. Department Chair
      2.  Dean
      3. Associate Vice Chancellor for Business Services
      4. Director of Property Accounting
      5. Vice Chancellor for Finance and Administration
  3. When all approvals are obtained, the Property Transfer Request form will be sent to Business Services for routing to DF&A for approval. DF&A will approve or suggest another value to be charged to the intended Receiving Entity.
  4. Business Services will prepare an invoice using the Accounts Receivable System (ARS) to bill the intended Receiving Entity.

 If there are questions involving this policy, please contact the University of Arkansas Property Accounting Office at (479) 575-4854 or Business Services at (479) 575-2551.

Approved February 13, 2018