Property Control System Manual (PCS)

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Effective: 3/1/1984

Revised: 7/1/2012

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PCS 602–03: Performing Periodic Physical Inventories for Sponsors

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Purpose

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To properly perform periodic physical inventories requested by sponsors

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Source

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Office for Research and Sponsored Projects Administration

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Policy

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

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Procedure

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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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