Policy 633.00 - Procedures for the Accountability and Safekeeping of Lost or Abandoned Currency or Personal Property

  This Replaces
File: 633.00 new
Date: 7/1/03 new







ORIGINATOR: Associate Vice President, Operations

SUBJECT: Procedures for the Accountability and Safekeeping of Lost or Abandoned Currency or Personal Property

Pursuant to the University System of Maryland Policy on Lost or Abandoned Currency or Tangible Personal Property on University System Premises (Policy no. VIII-1.21), approved by the Board of Regents on July 26, 1990, the University of Maryland University College (the University) has developed the following procedures for the accountability and safekeeping of lost or abandoned currency and tangible personal property found on the University's property.

  1. Responsible Employee

  2. The Associate Vice President, Operations has been designated as the employee responsible for the accountability and safekeeping of the lost or abandoned currency or personal property.

  3. Procedures

    1. When lost or abandoned currency or personal property is found on property owned, leased, operated by, or under the control of the University ("University Property"), the following procedures apply:

      1. Items found on University Property are turned into the Security Office who will log all items into the Lost and Found Log and safely secure the items.

      2. Reported losses, which are not found, are noted in the "lost" section of the Lost and Found Log.

      3. If the lost item contains the name and contact information of the owner, a representative from the Security Office will make a reasonable effort to contact the owner.

    2. Specific Property

      1. Keys: Any University keys found on University Property will not be placed into the Lost and Found. The Security Office shall remand the keys to the Key Control Monitor.

      2. Weapons: Weapons found on University property shall not be touched. The finder shall immediately contact the Security Office who will remove the item(s) and contact the appropriate law enforcement agency.

      3. Alcoholic Beverages: Alcoholic beverages left in guests' rooms shall immediately be brought to the Security Office who will appropriately dispose of the items.

    3. Unclaimed Currency or Personal Property

      1. Currency and property identified as abandoned or lost shall be held for one year during which an owner may file a claim to recover.

      2. The individual finding the abandoned or lost currency or property has a priority claim which must be exercised within thirty days after the one year holding period expires; the institution or component shall notify the individual that the holding period has expired and that the individual's claim must be exercised within thirty days.

      3. Unclaimed tangible personal property may be disposed of after one year and thirty days. Lost currency and proceeds derived from the disposal of the property, after deducting any costs incurred, shall be deposited in the General Fund of the State to the University's account.