New Mexico Higher Education Department
Institutional Finance Division
Dispositions of Property
While it is the responsibility of Institutions to ensure property is being disposed of in accordance with state statutes 13-6-1 through 13-6-5, the Office of State Auditor (OSA) has published notification procedures that provide additional guidance.
Accordingly, and in order to avoid redundancy in efforts, HED is requesting Institutions follow the OSA’s procedures (web link below) which include the disposal of digital equipment.
Dispositions of property whose method is found to be theft or embezzlement should be recorded in the inventory and financial accounts. Associated documentation such as police and insurance reports should be kept as part of the audit trail.
HED Contact: Institutional Auditor Scott Eccles
Property Disposition Notification Procedures