Inventory/Equipment
Annual Inventory
Annual Physical Inventory:
Per the State of Illinois Central Management Services,
Illinois State University must conduct an annual physical inventory
of all fixed assets.
To achieve an annual physical inventory of the entire University,
each department will receive a current listing of their inventory(s).
Each department is responsible for physically locating each item on their inventory
list, updating any information on the list, noting any additional
inventory that is not on the list, signing and returning the inventory
to the Office of Property Control by a date set forth by the Office
of Property Control. The information received from each department
will be analyzed, processed and reported to the Central Management
Services for review.
NOTE***
‘Unfound Inventory Statements’ will be sent out to all departments
who cannot locate inventory that meets a criterion set by Property
Control. This equipment is typically high dollar, high risk for
theft, and recent purchases. The department must complete the Unfound
Inventory Statement including an explanation as to why the equipment
cannot be located. The form is then signed and returned to
Property Control for filing.
All University property is subject to scheduled and unscheduled
internal and external audits. Be prepared to provide all inventory
for verification.
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