Property Control System Manual (PCS)

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Effective: 3/1/1984

Revised: 3/1/2021

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PCS 601–03: Departmental Responsibilities for Inventories

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Purpose

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To clarify responsibilities of departments in assisting Capital Assets Management with biennial physical inventories of capital equipment

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Policy

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ASU requires departments to complete a physical inventory of capital equipment. Departmental responsibilities include, but are not limited to:

  1. performing physical inventory based on the equipment list provided by CAM
  2. accounting for missing assets before the end of the inventory cycle

     

    and

  3. acquiring the appropriate signatures for the physical inventory and any assets that need to be retired.
Note: Financial penalties may be leveraged if the amount of lost assets is excessive.

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Cross-Reference

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For more information, see PCS 601–04, “Retiring Missing Assets.”

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