Property Control System Manual (PCS)

Effective: 3/1/1984

Revised: 3/1/2010

PCS 601–02: Performing Physical Inventories

Purpose

To properly inventory capital equipment

Sources

48 Code of Federal Regulations § 45

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

Property Control

Policy

ASU is required by the Board of Regents and the federal government to perform a physical inventory of all capital equipment every two years. Property Control conducts inventories by buildings every two years using bar code scanners. As buildings are scheduled for inventory, departments are notified by e-mail of the inventory start date. When the inventory cycle is complete, departments receive a report of property that was not found. Departmental personnel will complete and return to Property Control the “Not Found” reports indicating what they have found and what they wish to retire with the supporting documentation.

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.

Procedure

1. Student employees are deployed with bar code scanners and capital inventory lists by building to begin the inventorying.
2. After the inventory cycle is complete, “Not Found” reports are forwarded to inventory coordinators and their directors for them to find capital property not located in the initial building scans.
3. Department heads sign off on the completed inventory and return the “Not Found” report to Property Control.
4. After receiving the reports in Property Control, a reconciliation is performed. Found assets are updated in the property control system. Determinations are made about which assets should be retired if not found or be marked for retirement by the department, with supporting documentation from the department’s inventory coordinator.

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