Equipment Title Policy
Purpose
To ensure that the College is in compliance with State of Minnesota Title Statute 168A, upon purchase or receipt by donation of any equipment that is required to be titled, for use by the College.
Policy
Minnesota State Community and Technical College shall ensure receipt of title for any equipment required to be titled that is purchased or received in donation for use by the College. Upon receipt of title, the business office will transfer the title into the Minnesota State system Board of Trustees ownership, with the title address representing that of the acquiring campus. The business office will also title/register any untitled/unregistered equipment requiring a title/registration as outlined in State of Minnesota Statute 168A.
Responsibility
Faculty and Staff
Be knowledgeable and adhere to this policy. Ensure all titles and registrations are submitted to business office immediately upon receipt.
Business Office Personnel
Ensure policy is effectively communicated to faculty and staff. Ensure that this policy is implemented and followed.
Central Accounts Payable (CAP)
Adhere to policy and procedure requirements as they pertain to their department.
Supporting References
Minnesota Statutes 2007; 168A Vehicle Titles
Minnesota State Community and Technical College Gift and Grant Acceptance Reporting Form
Fixed Asset Policy 7300-01-01
Associated Policies and Procedures
Minnesota State system Board Policy 7.3 Financial Administration