The Property Transaction Record form (PTR) must be used for all transactions (i.e.; transfers between departments, surplus, e-waste, scrap,
donations, trade-in, dismantling for parts or cannibalization) involving inventoried items and must be used to surplus, e-waste, scrap, donate,
or trade-in any item, regardless of the original cost. The Property Identification section of the form (Step 1) must be completed for all
transactions.
NOTE: Items costing less than $5,000 will not be tagged and/or inventoried.
Separate forms must be used for each type of Property Transaction Category.
The PTR form must be completed for all transfers of equipment between departments. When a transfer is made and both the relinquishing
department and the accepting department have signed the record as required, the original PTR form must be forwarded to the Inventory/Fixed
Assets personnel in Fiscal Operations.
E-mail communication may be used to notify the Inventory/Fixed Assets personnel in Fiscal Operations of the movement of inventoried
equipment from one location to another within a department. The e-mail message should include the following information: index number of
the department, inventory tag number, brief description of inventoried item(s), model and serial numbers, the building name and room number
(location) of the item(s) previous location and new location.
The PTR form must be completed for all items to be transferred to surplus, e-waste, and scrap. The relinquishing department will complete
and sign the PTR form as required to relinquish the item(s) to Central Receiving. This form must also be signed by the Director/Designee of
Central Receiving for receipt of these item(s). After the item(s) have been processed, the original PTR form (signed by a Receiving Clerk), with
tags, should then be submitted to the Inventory/Fixed Assets personnel in Fiscal Operations. Any questions regarding surplus, e-waste, and
scrapped items may be addressed to the Receiving Clerk in the Physical Plant.
All information and requirements concerning equipment for a donation or trade-in must be evaluated, approved and signed by the Director of
Purchasing. Upon completion, all documentation should be submitted to the Inventory/Fixed Assets personnel in Fiscal Operations.
The PTR form must be completed for all items that are to be dismantled for parts/cannibalization. After approval from the next higher
level of authority, the inventory tags must be removed and forwarded to the Inventory/Fixed Assets personnel in Fiscal Operations along
with the original PTR form. The copy of the PTR form along with a copy of the tags should be retained by the relinquishing department.
Please contact the Fiscal Operations personnel at extension #4383 or #4213 for assistance in using the PTR form, or if you have any
questions regarding inventory.
PROPERTY TRANSACTION RECORD (PTR)
Procedures • January 2009
A. Property Transfers Between Departments
B. Property No Longer Usable by College
C. Notice of Dismantling for Parts/Cannibalization
Southwest Tennessee Community College, a Tennessee Board of Regents institution, is an affirmative action/equal opportunity college. 00176REV09006
