Lost, Stolen, or Destroyed Assets

If a capital asset has been stolen or maliciously destroyed, the owning department must contact the MSU Police Department for an incident report. The incident report must be attached to the asset retirement eDoc in KFS.

If an asset has been lost or will be destroyed (no malicious intent), the owning department must complete the Capital Asset Property Loss form (PDF) and attach it to the retirement eDoc for approval.

Government-owned assets

If a government-owned asset is lost, stolen, damaged, or destroyed, the department fiscal officer is required to ad hoc route the retirement eDoc to MSU’s Contracts and Grants Administration (CGA). CGA is required to promptly notify the appropriate government agency’s property administrator, as MSU could be liable for the loss.

MSU requires that any of its subcontractors possessing or controlling government owned assets accountable under a government contract, to investigate and report all instances of loss, damage, or destruction of such property as well.