Cornell University acquires, records, inventories, maintains, and disposes of capital assets. Each operating unit is responsible for following university procedures to achieve accurate capital asset reporting and compliance with government requirements.
Cornell University requires anyone handling cash, checks, or securities on its behalf to safeguard these assets by applying appropriate internal controls, and that securities be managed in compliance with the bylaws of the Board of Trustees.
Cornell University’s Board of Trustees delegates significant procurement authority for the acquisition of goods and services from external sources on the university’s behalf. This authority is ultimately delegated to designated purchasing agents and contracting officers.
