Equipment management involves many different functions during an assets life, from the time the asset is acquired until disposal takes place. These functions include physical inventories, use, maintenance, consumption, and movement and storage, as well as developing proper controls to safeguard assets.
Physical inventories – hard copy lists mailed to departments by Equipment Inventory, based in a schedule, for tracking inventorial assets.
Use - When applied to material and property, use is engaging the asset or material into the business process for value.
Maintenance - The upkeep of property or equipment to preserve from failure and decline.
Consumption - The measurement of actual use of consumable items to the planned use (budget to actual).
Movement - Relocation from one area to another.
Customs - What to expect when traveling out of the country with University owned and/or personal equipment (as carry-on or checked baggage), it is important to be prepared to document the original purchase upon returning to the United States to avoid having to pay.
Export Control Laws - U.S. federal government laws and regulations that require federal agency approval before the export of controlled items, commodities, technology, software or information to restricted foreign countries, persons and entities (including universities).
Management Requirements for Equipment Governed by the Code of Federal Regulations (CFR)/Uniform Guidance
Section 200.313 (d) of the CFR, also known as the Uniform Guidance, addresses management requirements of equipment governed under these regulations.