Property Control System Manual (PCS)

Interim Posting

Note:

At the request of a provost, vice provost, or vice president, this policy has been posted in the interim between scheduled posting dates by University Policy Manuals Group because it has significant and urgent importance for the university community. This policy will be included in the publication process by the next feasible posting for online policies and procedures.

Effective: 3/1/1984

Revised: 11/1/2003

PCS 602–01: Unscheduled Inventories of Equipment

Purpose

To allow unscheduled inventories requested by sponsors or others

Sources

48 Code of Federal Regulations § 45

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

Property Control

Policy

In addition to the required performance of equipment inventories every two years, unscheduled inventories may be performed. Contract or grant requirements may specify that inventories of sponsor-owned equipment be conducted more frequently than every two years. Also, a principal investigator, Property Control, or a state or federal official may request an inventory at any time.

Note:

Some sponsors may classify items costing less than $5,000 as inventoriable equipment.

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