Inventory Policies and Procedures

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  • Topic: Inventory, E-mail, State University of New York at Oswego
  • Pages : 13 (3889 words )
  • Download(s) : 221
  • Published : October 28, 2010
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Revised by: Lin Murray Inventory Control Coordinator April 2008

Table of Contents
Introduction System Benefits Equipment Responsibilities Equipment Inventory Control Coordinator Academic and Administrative Departments Non-Utilized Equipment Storage/Surplus Acquisition of Non-Utilized Equipment Surplus Property/E-mail Procedures Search for Equipment/Advertisement for Equipment Disposal of Equipment Transfer to Surplus/Redistribution Relocation of Equipment Temporary Loan of Equipment Temporary Loan of Equipment Form – Sample Internal Control Annual Equipment Audit Theft/Loss of State Assets Printout Distribution Frequently Asked Questions 3 4 4 5 5 5 6 6 6 7 7 8 9 9 10 11 12 12 13 14 15


The State of New York requires all state agencies to maintain a Property Control System. When properly maintained, this system should show the net worth of all inventoried equipment at each agency. Central Administration developed the Property Control System to provide uniformity in property accountability throughout the SUNY system. Policy and procedural guidelines for maintenance of the Property Control System are the responsibility of SUCF/SUNY (State University Construction Fund/State University of New York) Central Administration. Central Administration will update PCS’ guidelines to meet the regulations of the Department of Audit and Control and advance the needs of SUNY fiscal budgeting programs. SUNY Central has designed the Property Control System to satisfy immediate Audit and Control requirements and provide information to support SUNY near-term and long-range fiscal budgeting. We can only achieve benefits from the Property Control System through proper and timely maintenance and perpetuation of campus inventory records. Each agency is accountable to Central Administration for maintaining the Property Control System at the campus level and accomplishing all necessary procedures to perpetuate the system. The Purchasing Department for Oswego State University of New York has been designated as the office responsible for maintaining and perpetuating the equipment inventory records. The specific person designated this task is the Inventory Control Coordinator. We have requested that each department appoint a Departmental Coordinator. The function of the Departmental Coordinator is to assist with the annual inventory, circulation of information within the department, disposition and acquisition of surplus equipment. This manual has been prepared to assist departmental personnel in the understanding of State’s Rules and Regulations regarding the annual inventory, the maintaining, and the disposal or campus owned equipment. Inventory Control maintains a detailed manual of policies and procedures. Anyone needing additional information may contact the Inventory Control Coordinator. Not only the record keeping of equipment is important. Safeguarding of State-owned equipment should be a priority of every individual on campus. Each Departmental Coordinator will have a copy of this manual and two printouts of the department inventory. One printout will be in asset number order; the other will be in building/room/asset number order. We will provide a limited supply of all forms needed as well. If you have any questions or problems concerning equipment inventory regulations, contact the Campus Inventory Control Coordinator located in room 402A Culkin Hall or e-mail to or phone at extension #2228. 3

SUNY Central has designed the Property Control System to provide an accurate inventory of SUNY owned equipment and uniform operating procedures. They have also designed it to furnish information for effective analysis and control of capital expenditures. The use and perpetuation of this system will provide SUNY and the campuses with the...
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