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Property

Property, Tax, and Accounting
Policy -
Property, Tax, and Accounting

Property

By tracking the acquisition and disposition of nearly 100,000 items, the VPF Property Office helps you manage your DLC’s equipment and furniture needs efficiently and economically.
Subtopic

Update Equipment Location

When you relocate a piece of equipment from its recorded location for a significant period of time, you must notify the VPF Property Office.

Task - Property, Tax, and Accounting

Equipment Fabrication Accounts

Your DLCI may receive authorization to fabricate a new piece of equipment in connection with a research contract or grant.
Task - Property, Tax, and Accounting

Damaged/Stolen Equipment Reporting

Take immediate action to report any equipment that has been damaged or that you suspect has been stolen. Here’s how to start the process.
Task - Property, Tax, and Accounting

Equipment Tagging

Every piece of new equipment that your DLCI acquires with a value of $5,000 and above, must be tagged by the VPF Property Office.
Task - Property, Tax, and Accounting

Gifts-in-Kind

A gift-in-kind is a donation of goods, such as equipment, art, or historical items. When your DLC receives a gift-in-kind, be sure to report the donation to the Office of the Recording Secretary (RSO) and to the Property Office.
Task - Property, Tax, and Accounting

Dispose of Surplus Equipment/Furniture

Although disposing of your DLC’s surplus equipment and furniture isn’t complicated, you must follow a few key procedures. Here’s how to get started.
Task - Property, Tax, and Accounting

Buy Used Computers or Phones

As a member of the MIT community, you can buy a used laptop, desktop computer, tablet, or smartphone from the Institute. Purchasing surplus equipment is a great way to save money and put good equipment to use while reducing the cost to MIT for disposal of computing devices.
Here’s how to get started.
Task - Property, Tax, and Accounting

Equipment Transfers

Whether coming in or going out, transferred equipment must be properly accounted for by your DLC. Here’s how to manage the process.
Task - Property, Tax, and Accounting