INVENTORY CONTROL MANUAL


Table of Contents
 

Section I: Objective
Section II:  Capital Valuation and Asset Management

A. Fixed Asset System Purpose

B. Responsibilities

C. Definitions

D. Real and Personal Property

E. Valuation of Fixed Assets

F.  Cost Methods

G.  Depreciation

H.  Special Cost Considerations
 


Section III: Authorization

A. Federal Granting Agencies

B. State Agencies

C. University Board of Trustees


Section IV: Responsibilities

A. Institutional Responsibility

B. Department Head

C. Departmental Property Coordinator

D. Personal Liability Through Delegated Custody

E. Inventory Control


Section V: Procedures for Inventory File Transactions

A. Accountability

B. New Acquisitions

C. Gifts/Donations

D. Constructed Equipment

E. Equipment Maintenance

F. Loans, Leases, Consignments

G. Transfers From Other Organizations

H. Transfers of Equipment, Location Changes

I. Property Loaned To: Another Department, Institution, etc.

J. Transfers to Another Institution

K. Equipment Trade-Ins (New Purchases Only)

L. Sales (Bid Process for Department Request Only)

M. Equipment Retirement (Cannibalize)


Section VI:
    
Materials Management
Policies and Procedures for Property Declared Excess/Surplus

B. Property Declared Surplus

C. Disposition Options


Appendix A - Reporting of Loss or Damage to Health Center Property

Appendix B - Supplemental Procedures for Equipment Transfers to Other Institutions

Appendix C - Inventory Control "IC-Forms"

Appendix D - Equipment Type Definitions

Appendix E - Memorandums, General Letters, Revision Log (Departmental Use)

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Created by:
Jack Ferraro, Director of Materials Management

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