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16.5.6.5 ACCOUNTABILITY OF PROPERTY All employees of The University of Texas at Austin Applied Research Laboratories (ARL:UT) will be responsible for the proper use, care, and storage of accountable property in order to ensure that serviceable, well maintained equipment will be available to perform required research functions. B. Records of Accountable Items The Property Office will maintain records on all accountable items, including those end items, equipment, and systems that will be fabricated, government furnished, or purchased, that have an actual or estimated value of $1,000.00 or more, and having a life span of more than one year. Property Custodians, which can be a division, a section, or an assigned individual, will be responsible for the proper utilization, maintenance, and care of equipment and for knowing the location of all accountable property in their custody. Property which is not in their actual possession must be accounted for on a Material Control Form or an ARL:UT shipping ticket. When items are relocated or change custody, the Property Office must be notified promptly so that inventory records can be updated. The Property Office will be responsible for preparing an acquisition sheet to add items to the inventory, whether purchased under contract or acquired as Government surplus. Property items will have Government identification tags made after the receiving report is processed and an acquisition sheet has been made. Government identification tags will be promptly affixed to the appropriate equipment. D. Records of Location and Responsibility The Property Office will maintain location/responsibility records on all property. These data will be processed to provide, annually, a listing to each assigned custodian for their verification, and for designating which equipment is in use or is excess to known requirements. A list of useable excess reported by the custodians will be compiled for laboratory-wide screening. The equipment, if not selected for use, will be moved to storage and reported as excess to the Office of Naval Research Regional Office (ONRRO) or cognizant property administrator.
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