Federal Physical Inventory is the physical inventory of Federally owned assets with a total cost equal to or greater than $5,000. These inventories are distributed to campus annually and are to be completed and returned to the Equipment Inventory Office within 60 days. Also note, as a part of the federal physical inventory the department is responsible for inventorying government owned non-capital property and providing that inforation to EIO.
Agency Physical Inventory is the physical inventory of Agency owned assets with a total cost equal to or greater than $5,000. These inventories are distributed to campus annually and are to be completed and returned to the Equipment Inventory Office within 60 days.
EIO (The Equipment Inventory Office):
- Mails the inventory packet to the department inventory contacts containing:
- Cover letters
- Inventory listings of all Federal and Agency titled equipment asigned to the department
Department Inventory Contact:
Locates each piece of Federal or Agency titled equipment and, if applicable, Federal non-capital items, assigned to the department and verifies that it is:
- In use (arranges for disposal if it is not in use)
- Accurately tagged (tags or retags if necessary)
- Correctly listed in the OASIS database (updates the printed listing where necessary)
May make updates in OASIS except for disposals or tag number changes
Provides the updated original listing to the department head or a representative for a signature
Makes a copy for department records
Retains copy for three (3) years
Mails the signed and completed original inventory listing back to EIO in time to meet the due date
Responds in writing to any requests from EIO
Logs the inventory in as "received"
Checks the inventory, sending a memo to the department if there are any questions
Completes any requests
Updates the OASIS database as needed
Sends a copy of the new inventory listing to the department
Retainss the completed original updated listing for six (6) years
If the department does not complete and return their inventory by the due date EIO will initiate the formal follow-up procedure. This is a four step escalated process that begins with the department inventory contact. When necessary this will be followed with a notification to the unit administrator followed by a notification to the chair/director of the unit, then to the respective dean or associate VP.
Last updated August 27, 2020