UB is required by New York State, SUNY and RF to record assets that have a value greater than $5,000, are not consumable and have a probable life expectancy of one or more years.

The Principal Investigator will:

• Obtain approval for the transfer from the chair and dean of the department
• Contact the department asset coordinator to provide Asset Management with a list of the equipment intended to be transferred

• Transfers between state agencies (i.e., SUNY) are permitted. Asset Management should be notified in advance of any intended transfer to/from another state agency, and they will coordinate the transfer.
• When faculty or staff leave the University at Buffalo and wish to transfer items purchased with state funds to another state agency, Asset Management should be contacted to discuss the transfer. Items purchased with state funds may be transferred only to another state agency.