1. UNCAPITALIZED TANGIBLE PROPERTY INVENTORY REPORT AND SPREADSHEET

2. Overview REPORT SPREADSHEET
Cost Center’s Uncapitalized Tangible Property Inventory Report
(PCS #3-2918) is completed any time after the fiscal year begins (July 1) by conducting a physical inventory of all uncapitalized equipment and submitting the Report no later than October 31st
NOTE: If October 31st falls during a weekend, it must be submitted on or before the last business day prior to the 31st
SPREADSHEET
Detailed accounting of all uncapitalized equipment maintained on an active electronic computer program (Auditing and Property Records recommends Excel)

3. What is Uncapitalized Equipment?
Tangible fixed assets with a historic cost of $300 to $999.99
Uncapitalized Non-Technology (N)
Any other equipment, including, but not limited to, items such as musical instruments, furniture, printers, LCD projectors, maintenance equipment, athletic equipment
Will be labeled with an identification number assigned by the cost center (unless a district tag number was once assigned) and is not tracked in the TERMS Fixed Asset System

4. Inventory
A physical inventory of uncapitalized equipment is to be conducted annually and reconciled by school/department staff after July 1st
To make the physical inventory manageable in larger schools/departments, inventory can be conducted by several staff members, for example; divide equipment by grade level, by department (math, science, music), or by type of equipment (plant operations, technology)

5. Spreadsheet
Without an updated spreadsheet, the annual report cannot be completed accurately!
Each item shall be accounted for on a separate line to include:
Identification number (tag, label, school assigned)
Description of item
Serial/Model number
Physical location (such as building/room)
Cost or value at date of acquisition (include a PO number or donation date)
If items are removed from inventory, include date and reason for removal (surplus, cannibalized, transfer to new cost center)
Clearly identify items added and removed/deleted throughout the year

6. Reporting
Refer to your last year’s Cost Center’s Uncapitalized Tangible Property Inventory Report and current year inventory spreadsheets to complete the annual report
Cost Center’s Uncapitalized Tangible Property Inventory Report (PCS Form ) is completed and electronically submitted to the Auditing and Property Records Department by to no later than October 31st of each year
When the report is submitted, a copy of the spreadsheet is to be backed up in the Shared Folder on the district network

7. The Report
Refer to last year’s Report ( ) to complete this section (See sample spreadsheet)
Refer to the sample spreadsheet for the current year’s figures ( ) used to complete this section

8. Previous Fiscal Year Totals
SAMPLE SPREADSHEET
Previous Fiscal Year Totals

9.
SAMPLE SPREADSHEET
Items Added

10.
SAMPLE SPREADSHEET
Items Deleted

11.
SAMPLE SPREADSHEET
Current Inventory

12. IS YOUR REPORT ACCURATE?
Does it balance?
Does the formula include all the cells you need?

13. STEPS TO UPDATE A SPREADSHEET
Back up your file to the Shared Folder on the district network
Remove highlighting from the new items to incorporate them into current inventory
Permanently remove the deleted items from the spreadsheet
You are now ready for
new activity!

14. New Fiscal Year
SAMPLE SPREADSHEET

15. SUMMARY
Report is due no later than October 31st of every year (if October 31st falls on a weekend, submit it on the prior business day)
Submit your Report electronically via to
When your Report is submitted, back up your spreadsheet in the Shared Folder on the district network