The Equipment Inventory office is responsible for tagging and control reporting of all university movable equipment, purchased for Ohio University. This includes the five regional campuses and various regional teaching sites across Ohio. Equipment must meet the following criteria:
- Must be moveable and not permanently affixed;
- Have a cost of $5,000 or greater when purchased or be a gift with an appraised value of $5,000 or more;
- Have a useful life of one year or more and be nonexpendable.
At no time can a University department or office discard a University asset without proper authorization; nor can a University asset be given or donated to any individual, Private Corporation or Non-Profit Organization.
Direct questions concerning equipment inventory to Finance.EquipmentInventory@ohio.edu.
Procedures for OU Policy & Procedure
19.054: Equipment Inventory Control
I. Receipt of New Equipment
1.When received directly in the using department from the supplier, the Equipment Inventory Office will locate and tag the equipment.
2.Equipment received as gifts through the Ohio University Foundation (OUF) are to be tagged with the assistance of the recipient's department contact. The necessary information required for the inventory records will be determined by OUF and the department.
II. Equipment Records Maintained by the Finance Division
1.The tag number assigned to a piece of equipment serves as the central mechanism for establishing a unit record in the inventory control system.
2.Each record will contain information on the item including:
* Serial or manufacturer identification number
* Original cost
* Purchase order number (if applicable)
* Acquisition date
* Disposition date
* Department to which equipment is assigned
* Person to whom the equipment is assigned
* Location: Building and room
3.At least three times each year equipment inventory e-mails will be sent to the department contact that explains the process to verify equipment (see subsection IV below).
III. Departments Reporting Changes in Status of Equipment
1.) Changes in the status of equipment must be reported to the Division of Finance by the department that was accountable for the equipment. The Equipment Status Change form is to be used for this purpose. Status Changes are to be reported as they occur.
Examples of status changes:
- Scrapped (i.e., sent to Campus Recycling)
- Traded in
- Returned to vendor
- Transferred to another department or another responsible person
- Relocated to a different room or building
All equipment that is considered surplus is to be disposed of by contacting the Moving & Surplus Department.
2. Equipment owned by the University may be removed from campus only with the permission of the department head. Equipment taken off campus must be under the supervision of an employee of the University. Request to take Equipment Off Campus Form must be filled out and a copy sent to the Equipment Inventory Office prior to taking equipment off campus, and again when the equipment is returned.
Every two years the Equipment Inventory Office will send an e-mail to each department contact advising on the process for auditing equipment.This will occur, as soon as possible after March 31 or September 30. The list is to be verified by the department and all corrections reported to the Equipment Inventory Office on an Equipment Status Change Form. The certification accompanying the e-mail must be signed by the department head and returned with the list of changes.
Equipment inventories will be periodically audited by both State auditors and University accounting personnel. Therefore, it is imperative that all transactions affecting movable equipment be properly recorded.
The following forms are specific to this policy:
1. Equipment Status Change Form is available online at http://www.ohio.edu/finance/customercare/controller_forms.cfm.
2. Request to Take Equipment Off Campus Form is available online at http://www.ohio.edu/finance/customercare/controller_forms.cfm.
Please send forms and questions to email@example.com. The Equipment Inventory Office is located in WUSOC 218.