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Category

Donated Property 

Question

Do I have to do anything when I receive donated property?

Answer

If the fair market value of the donated property is over $1,000 with a useful life greater than one year you must complete the Property Purchase Form found on the Accounting Services webpage under Property Control: Forms.  Please send the completed form to Property Control.  A property record will be created, a tag issued, and the tag will be sent to your property custodian.
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Created at 10/22/2010 11:49 AM  by Moses, Linda@Accounting Services 
Last modified at 10/22/2010 11:49 AM  by Moses, Linda@Accounting Services