II. C. 9. DeKalb Technical College

Property Loss Reporting

In accordance with the Technical College System of Georgia’s policy II.C.9, Inventory Management, DeKalb Technical College has developed this policy to ensure that the proper inventory of equipment is maintained. All property losses must be reported to the Director of Facilities and Auxiliary Services when the losses occur; an Incident/Injury Report Form should be completed electronically as soon as possible. Such losses include:

1. Total loss or partial loss of property or loss of use of property;

2. Loss in value of property when the loss in value is due to causes other than normal wear and depreciation from age and use.

These losses include: damage from fire, wind, lightning, water, cold weather, collision, vandalism, theft by taking, robbery, burglary and embezzlement. A police report must accompany the property inventory adjustment form

Losses to buildings, contents, equipment and landscaping should all be reported on the Property Inventory Adjustment Form and the Incident/Injury Report Form.

Significant losses should be reported immediately by phone and the written reports prepared and submitted on a timely basis. Significant losses include all fires, and other losses that are expected to exceed $500.00.

Losses should be reported without regard to whether or not the losses are insured. Repair and/or replacement of lost or damaged property will be made only when evidence is provided that the loss has been reported.

Approved 08/99

Reviewed 11/07