Inventory Policies and Procedures

INVENTORY CONTROL

POLICIES AND PROCEDURES
PROPERTY CONTROL SYSTEM Departmental Issue

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

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INTRODUCTION
EQUIPMENT INVENTORY CONTROL PROPERTY CONTROL SYSTEM (PCS)
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