Answer:

6. Stolen items are replaced at the pre-determined replacement value of the item. The replacement value is normally defined as the purchase price of the stolen property.

 

Items with a replacement value up to and including $100 shall be the sole responsibility of the department. An item with a replacement value greater than $100 is the responsibility of both the department and the College’s self-insurance fund. The department shall cover the first $100 and the self-insurance fund shall cover the amount over $100 up to the pre-determined replacement value. If the cost of the replacement item is more than the pre-determined replacement value, the additional cost is the responsibility of the department.

 

To initiate the purchase of the replacement item you must:

    • Prepare an on-line Purchase Order (PO) for the replacement item. The PO will be a 2-line PO (the first line is the cost to the department using the department chartfield number and the second line is the amount covered by self-insurance funds using the chartfield provided by the Risk Management Office (Cynthia Eghbalnia).
    • The PO approver must be the Vice President of Infrastructure Services (Roger Price). The PO will not be issued by the Purchasing Office, if it is not approved by the Vice President of Infrastructure Services.
    • Upon receipt of the completed police report or MATC Security Report and review for appropriateness of funding, the PO will be approved and forwarded to the Purchasing Office for final disposition.
    • If the items are computer hardware/software items, a Technology Services Hardware/Software Request Form must be completed and forwarded to the Director of Finance for processing. NOTE: This form is available through the District Stores.

 

NOTE: PO’s will not be approved if a completed police report or MATC Security Report is not on file with the Risk Management Office. It is the responsibility of the respective division/department to verify with the MATC Security Office that a written report has been completed and forwarded to the Risk Management office.