UMES Administrative Affairs Manual
GIFTS, REQUESTS, DONATIONS, TRANSFERS FROM OTHER INSTITUTIONS
OF CAPITAL ASSETS
Description of Asset
Cost (see instructions)
Condition Code (see instructions)
Source of Asset
1. This form is to be completed by the school, department or subdivision which acquires a capital asset through any means other than the normal procurement procedures. This applies to all capital assets acquired by gift, bequest or donation, as well as, those brought from other institutions.
2. Be sure to provide supporting documentation for the cost amount provided above.
3. The following condition codes shall be applied to all assets necessitating the use of this form. The condition code is expressed as a ratio of the asset's estimated fair market value to it's replacement cost. Thus, to apply the appropriate condition code, divide the fair market value by the replacement cost, and locate the resultant percentage in the code table below.
|1. Poor (0% to 20%)
||4. Very Good (51% to 65%)
|2. Fair (21% to 35%)
||5. Excellent (66% to 80%)
|3. Good (36% to 50%)
||6. New (81% to 100%)
Preparer's Signature and Date