Inventory Memorandum

To:            Budget Officers

From:        Jerry Mauck – Property Administrator

Date:         August 17, 2004

Subject:    Equipment Inventory

The University is conducting an annual physical inventory of all equipment for the divisions assigned to 1st Quarter.  Enclosed please find the Fixed Asset Inventory Reports for the departments/orgs within your divisions.  This report is sorted by department, building and room.  Please work with your department(s) to verify the following for each tag # on the Report:

Asset Existence:     Does the asset exist and is it under the control of the listed department?

Asset Location:   Does the Inventory report show the correct building and room number for the asset’s location?  The report groups asset tags by room number.  For each room number, the room type and room function that was assigned in the last space survey is noted.  Please pay special attention to assets that are listed in “Unassignable” rooms, such as hallways and restrooms.

Asset Condition:  Is the asset still in operable condition?

If the asset on the report meets all of the above, do nothing further with that asset (unless it relates to a grant which is discussed later).  If the asset does not meet one of the above, please do the following:

Dispose

If the asset no longer exists within the University or is unusable, please note the appropriate disposal code (following list) in the Dispose column for that asset tag #.

D – Donated - Please provide name/organization that received the asset donation.

DE – Deliverable – Delivered under terms of contract or agreement.

S – Sold – Please provide the sale details (amount, FOAP where proceeds were coded, purchaser).

ST – Stolen – Please provide a copy of Campus Safety/Risk Management report.

T – Thrown away or disgorged (use for assets that can no longer be used).

U – Unable to locate

Transfer to:

If responsibility for this asset was transferred to another department, please note the Department/Org number of the new department and include the current building and room number, if known.

If the asset needs to be coded to a different room, note the building and room number in the Transfer to: blank for that asset tag.

Tagged equipment not on inventory report

If your department(s) has received tagged equipment from another department since the last inventory (5/03) that is now under your responsibility that is not included on your department’s inventory report, please list these assets on the “Departmental Fixed Assets not on Inventory Report” form that has been included in this package.  It is possible that you may have other tagged equipment that is not on your report.  These assets were reported and reviewed in May 2003 and were determined to have been previously disposed in the system.  You do not need to include these assets on the report.

Title and Grant Codes

The title code designates whether the asset is University Owned (U) or associated with a grant or contract (F, D, or G).  For assets with an F,D, or G code, if you know the responsible grant number (fund #) is incorrect, please update.

Room Types and Functions

The room type and function noted on the report is from the 2003 survey and may not reflect the current room information.  For those departments conducting research,  please pay special attention to making sure the room number is correct.  For indirect cost purposes we need to make sure that all research equipment is matched to the appropriate research room that was coded during the space survey.

Approval

After the department(s) has completed updating the Inventory form(s), the form(s) needs to be approved by one of the following: Dean, Department Head, or Budget Officer.  This will be the authorization for me to either dispose or transfer assets.

Submission

Approved inventory forms for 1st Quarter divisions need to be returned to me in the Controller’s Office by close of business on Friday, October 15th.

Updated Inventory Report

If you desire a listing of the updated inventory, please let me know either when you return the form(s) or by email.  I will send the updated report out to all who request it.

Property Contact

Jerry Mauck – Controller’s Office - x14025 or at gmauck@du.edu.