PCS 601–02: Performing Physical Inventories

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Effective: 3/1/1984

Revised: 7/1/2006

PCS 601–02: Performing Physical Inventories

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Purpose [horizontal rule]

To properly inventory capital equipment

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Sources [horizontal rule]

48 Code of Federal Regulations § 45

United States. Office of Management and Budget. OMB circulars A-21 and A-110

Property Control

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Policy [horizontal rule]

ASU is required by the Board of Regents and the federal government to perform a physical inventory of all capital equipment every year. Property Control conducts inventories department-by-department every year using bar code scanners. As departments are scheduled for inventory, they are notified by letter of the inventory date. When the inventories of all departments on campus are completed, departments receive a report of property that was not found. Departmental personnel will complete and return to Property Control the “Not Found” reports.

Locating Equipment Having Dummy Numbers

Equipment that is difficult or impossible to tag may be assigned a “dummy ASU PC#” beginning with a “9” (e.g., 9003564), rather than be tagged with an ASU property control number (ASU PC#). These dummy numbers, however, cannot be scanned with a bar code scanner. Therefore, they appear on every “Not Found” report, and the department must locate them.

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ProcedureD [horizontal rule]

Responsibility

Action

Property Control

Determine which departments are scheduled to be inventoried.
Send preinventory letters to all department chairs, deans, directors, or designees who, per the property records, have equipment scheduled to be inventoried.
Conduct inventory of each department by using a blueprint of the building, and scanning room to room.

Upon completion of all departments on campus:

Send “Not Found” reports to department chairs, deans, directors, or designees.

Note: The “Not Found” report reflects all inventoriable equipment not found during the physical inventory.

Department chair, dean, director,
or
designee

Indicate the status of equipment on the “Not Found” inventory report by checking the appropriate column (Found, Not Found, or Delete).

If the equipment was found in the location indicated on the “Not Found” report:

Check the “Found” column next to the ASU PC#.

If the equipment was found in a different building and/or room than indicated on the report:

Check the “Found” column next to the ASU PC#.
Draw a line through the old building and/or room number and write in the new building and/or room number.
Correct any other discrepancies for the asset on the “Not Found” report (e.g., description, serial number, and model number).

If the equipment was not found:

Property Control

Check the “Not Found” column next to the ASU PC#.

Record “Not Found” equipment in Missing Inventory Status (MIS).

Note:

This equipment remains in MIS for four years. It is no longer shown on the department inventory but remains on the property control system as missing. After a four-year period of remaining missing, the asset is reviewed for disposition.

However, equipment coded as “Not Found” may be found in future inventories. Departments are notified when this occurs.

If the equipment should be deleted from the report:

Department chair, dean, director,
or
designee

Check the “Delete” column next to the ASU PC#.
Retain a photocopy of the “Not Found” report for department files.

Within 30 days of the date of the “Not Found” report:

Forward the original “Not Found” report to Property Control for processing.

Note: Property Control reviews extensions to the 30-day period based on the number of assets on the “Not Found” report and departmental resources.

endtable

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