Quarterly/Annual Review of Equipment Inventory
Quarterly Review
Quarterly, a listing of tagged items is sent to each department. This listing should be reviewed for accuracy. The Equipment Inventory Office removes items from the listing when departments notify them of equipment that has been disposed. A department may dispose of equipment by giving/selling it to another department or by sending it to surplus. Surplus determines whether the item is trash or if it is of value to the University. Relevant links are:
An employee who is taking any equipment off campus must first complete a form and have it signed by the department chair or administrative officer. (This is a new procedure being finalized.)
Annual Review
At each fiscal year end, the Equipment Inventory Office will send a listing of tagged items, along with detailed instructions and information, to each department. Compliance by departments is crucial to ensure proper equipment records at Ohio University. An O.U. policy and procedure that is relevant to equipment inventory is 19.054, which is in the process of being updated - the correct capitalization level is $2,500 with a life of over 1 year.
