Property Control System Manual (PCS)

Effective: 3/1/1984

Revised: 7/1/2012

PCS 602–03: Performing Periodic Physical Inventories for Sponsors

Purpose

To properly perform periodic physical inventories requested by sponsors

Source

Office for Research and Sponsored Projects Administration

Policy

ASU is required to perform periodic physical inventories of capital equipment as sponsors request them.

Procedure

The sponsoring agency requests an inventory from the sponsored property coordinator.

The sponsored property coordinator:

1. schedules an appointment with the principal investigator (PI) for a physical inventory of the equipment
2. verifies Property Control numbers (PCNs), model and serial numbers, location, and condition of the equipment
3. reconciles the account with changes as required
4. has the PI sign the reconciliation
5. updates the Property Control database
6. files the completed reconciliation in the account file

   and

7. submits a copy to the sponsor.

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