Physical Inventory: Campus Wide

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Presentation transcript:

Physical Inventory: Campus Wide UMB Comprehensive Physical Inventory: Campus Wide Eden Medaglia F&A Advisory Meeting April 29, 2019 Monthly Workshop for DPC’s: created May 2010 Monthly workshop for DPC’s: Created May 11, 2010

2019 Comprehensive Physical Inventory Moveable Equipment inventory Commences May 13, 2019! > April 2019 vendor selected & contract finalized (RFP) > RCI (Records Consultant, Inc.) winning vendor > RCI On-site May 13 – May 24 June 17 – June 28 July, TBD > Weekend & evening appointments available May 13th - Kick-Off meeting

What gets Inventoried/tracked? Moveable Equipment with per Unit cost of $1,000 or greater Computers/tablets regardless of cost/value Sensitive equipment regardless of cost/value Capital furniture $5,000 and greater

Dean, Department Heads, and Directors Are responsible for the physical inventory and maintenance of inventory controls for Moveable Equipment in their areas; May designate a Departmental Property Custodian (DPC) to serve as the liaison between department employees & the Property Department for Inventory matters.

Responsibilities: Departments DPC and/or Department Head : Coordinates access for physical inventory Department provides access to rooms/equipment Include storage areas RCI scans UMB barcode & updates location After initial Physical Inventory Reconciliation of Department Inventory Reports Find un-located equipment Provide appropriate documentation to Property

Lessons Learned: Review of Policy & Procedures Inventory Controls Off Campus/Loaner Equipment - Property Passes are required (valid for 2 years) - Resubmit an updated Property Pass every 2 years Surplus/ Equipment Disposal - Follow the process!!! - Complete the appropriate Surplus Form - Contact IT Service desk or Receiving Department End-User Changes & Redeployment of Equipment - Notify Property - Exiting Employees - Transferring Equipment (between departments) Keep copies of all your paperwork

Ownership Ownership of all Moveable Equipment is with the University of Massachusetts, unless stipulated otherwise by the funding source. Equipment does not belong to a Department, faculty/staff or Principal Investigator

Responsibilities: Departments Know where your equipment is and do not dispose transfer, or donate equipment on your own accord. *Per MGL Chapter 647 We are required to report all losses, shortages or thefts of property to the State Auditor's office, who shall review the matter to determine the amount involved which shall be reported to appropriate management and law enforcement officials.

Responsibilities: Departments Inventory Controls DPC and/or Department Head responsible for: Completing and submitting all required forms Coordinating physical inventories with faculty & staff Notifying Property of end-user, location, and custodial department changes Notifying Property of Moveable Equipment delivered without a UMB Barcode

Comprehensive Inventory Recap Commences May 2019 14,300 assets to be inventoried Campus wide sweep May & June 2019 RCI will conduct physical inventory All departments/spaces to be visited Determine who will provide access Know where your equipment is! Access to closets & storage areas Weekend & evening appointments available Great option for open floor workspaces & teaching labs

Lessons Learned: Inventory Challenges Physical Inventory requires access - Department/DPC to coordinate access - Include storage closets/locations - Remember to notify faculty & staff - Plan accordingly: Faculty might be away Keep copies of all your paperwork

Combined Effort: We cannot be successful without you! Thank You! Combined Effort: We cannot be successful without you!