The University of Memphis

Storage of Goods and Equipment

BFGuide

• Storage of Materials
• Retention Criteria

• Purchasing Department Information
• Surplus Property – BFGuide
• TBR Policy 4:02:20:00, Disposal of Surplus Personal Property

• Central Receiving Staff

When needed, departments may temporarily store goods and equipment in the Central Receiving Warehouse located on the South Campus, provided space is available and retention criteria stated in this guideline is met.  Upon approval, the Purchasing Department will assign storage space to a department; however, the goods and equipment stored in the space are the responsibility of the department to which the storage space is assigned.

When departments desire storage space at an offsite commercial storage facility, the department should contact the Purchasing Department to coordinate acquisition of the rental space, in accordance with purchasing procedures.   Note:  Normally, only those items for which a foreseeable need exists will be stored.  Items excess to departmental needs must be declared surplus property for possible use by other University departments or disposed of through procedures established in the Surplus Property section of this BFGuide.

Retention criteria for storage of goods and equipment are as follows:

• Items must be serviceable.
• Items that are unserviceable must be economically repairable.  (All cost elements should be considered in determining repair costs, i.e., labor, materials, handling, packaging costs, etc.)  Repairs costing in excess of 40 to 50 percent of acquisition value should be seriously questioned since repaired items will normally have less service life than newly acquired items.
• Items in new condition will be retained.
• Used or repairable items should have a foreseeable use requirement of one year.

Notwithstanding the above, exceptions may occur if the department justifies the request and obtains written approval of the Vice President for Business and Finance.