Business Procedures Manual

Fiscal Affairs Division

11.3 Institutional Use

(Last Modified on February 8, 2015)

Institutional use of the equipment inventory data includes, but is not limited to:

  1. Accountability: Assigning a custodian to every equipment item.

  2. Location Control: Maintaining an accurate location for the item.

  3. Loss Control: Maintaining adequate records to insure that the item is still available for institutional use, and/or becoming aware that an item is missing in a timely manner.

  4. Physical Inventory: Producing various listings/data files to facilitate the task of conducting actual physical inventories to verify current locations, conditions, etc of each item on inventory.

  5. Value Assignment: Assigning a value of equipment by building to assist in the preparation of the annual report to the Department of Risk Management.

  6. Tracking of Non-ÖгöÉÙ¸¾ÊÓƵ Equipment (Federal, NIH, DOD, etc): Tracking and assisting with calculation of indirect cost overhead rates for sponsored operations.

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