When a capital asset is no longer functional, is being externally transferred, or has been discarded, cannibalized, lost, stolen, and/or destroyed, it should be removed from the CAM system via asset retirement.
Required documentation
As part of the asset retirement process, the Role 6 CAM Processor is responsible for attaching the appropriate documentation that supports the decision to retire the asset. Examples of appropriate supporting documentation for asset retirement include:
- Request to retire asset from interested parties
- Memo releasing asset, signed by dean or department chair
- Completed Capital Asset Property Loss form (PDF) for lost, stolen, or destroyed assets
- MSU Police Department incident report for maliciously destroyed or stolen assets
- Receipt of sale, including eDoc number (must transfer the asset to the MSU Surplus Store for external sale)
- Completed gift/external transfer memo with itemized list of assets (contact the CAM team for assistance)
