Guidelines for Inventory Control of Capitalized Equipment
Tagging University Equipment
The Fixed Assets
Manager issues an equipment decal tag and information sheet for all single-item
equipment purchase orders valued at $5,000 or greater. The decal is then forwarded to the
department that received the equipment.
Upon receipt, the department liaison checks the decal information sheet
for accuracy of description, serial number, room number and other required
information. Any missing information
should be completed by the department liaison. After examining/completing the decal information sheet and/or
entering the information into the Inte-Great Property Management (IPM) system, the
department liaison affixes the decal to the equipment listed. If the liaison chooses to complete the information sheet in
place of entering the information into IPM, he or she must return the decal
information sheet to the Fixed Assets Manager, Accounting Services,
Administrative Services Building.
liaisons will have secure direct entry access to the IPM system. The liaison will have the ability to
enter required information into IPM instead of manually entering the data on
the decal information sheet.
Contact Lora McAlister (email@example.com)
for training/access to IPM.
If a decal
cannot be attached, write the decal number on the equipment with a permanent
marker if it is not suitable to apply the decal number. Place the decal in a secure file with a
notation as to why you could not decal the item and place this same notation on
the decal information sheet to be sent to the Fixed Assets Manager, or enter
the information in the Notes tab section of IPM.
Annual Inventory of Equipment
Once a year, the Fixed Assets Manager will
furnish each department a copy of their detailed equipment inventory listing of
single items valued at $5,000 or greater.
These lists are to be verified and signed by liaisons and budget center
business officers and returned to the Fixed Assets Manager, Accounting Services,
Administrative Services Building.
If equipment is not being used, please take appropriate action for
disposal. Note any discrepancies
on the inventory sheet and these will be corrected in the university’s fixed
asset accounting system. Surprise
inventory checks will be performed by fixed asset personnel or by the internal
auditors of the university.
for Replacement, Transfer, Disposal or Surplus of Equipment
- Equipment is returned to a company for
repairs and the company replaces it with a new piece of equipment. Change
the serial number and/or model number in IPM or send the information to the
Fixed Assets Manager, Lora McAlister at firstname.lastname@example.org. Equipment replacement will still retain
the same decal number as the returned item. If possible remove the existing decal tag and place on the
replacement item or write the decal number on the item with a permanent marker.
Notify the Fixed Assets Manager of the replacement.
- Equipment is moved to a different
location. Change the location information in IPM
or send the new room and/or building name to the Fixed Assets Manager, Lora
McAlister at email@example.com.
- Equipment is surplused. When an item becomes obsolete or unusable, complete a CUBO
206 form and forward it to Surplus Property, Administrative Services Building.
- Equipment is traded-in.
Complete a CUBO 206 form and a Trade-In Document form from Procurement
services. Attach to the Buyways
- Equipment is stolen. Campus Security should be notified so that an investigation
or other appropriate action may be taken.
Complete a CUBO 206 form, attach a copy of the security report and forward
it to the Fixed Assets Manager, Accounting Services, Administrative Services
is missing. If a
piece of capitalized equipment cannot be located, an extensive search must be
conducted to find it. If it still cannot be found, a CUBO 206 must be completed
and signed by the department head along with a letter stating that a search has
been done and explaining as to why they feel it should be removed from the
university's inventory. Upon review by the fixed assets manager the decision will
be made whether to remove the equipment from the inventory or if further action
should be taken.
- Equipment is transferred to another department. Complete a CUBO 206 form, have it signed by both the
originating and receiving department heads and then forward it to the Fixed
Assets Manager, Accounting Services, Administrative Services Building.
- Equipment is transferred to another state. Equipment cannot be transferred or
sold out of state unless the following conditions are met:
o The equipment must be bought with money from a current
grant (fund 20 account).
o The Principle Investigator (PI) needs the equipment to
continue with his/her research on an active grant provided the grant is
transferred to the same out of state entity as the equipment.
o Approval must be obtained from the State Surplus
office in Columbia. This can be
processed through the Clemson Purchasing department.
NOTE: Equipment bought for the same research
on a previous inactive grant cannot be transferred.
- Equipment is cannibalized. Equipment that is obsolete or inoperable may be cannibalized
and the parts used to repair or rebuild other equipment. Complete a CUBO 206 form and forward it
to the Fixed Assets Manager, Accounting Services, Administrative Services
Building and/or Surplus Property, Administrative Services Building. Cannibalization of federal
equipment requires written approval from the appropriate agency. Complete a CUBO 206 form and forward it
and the decal tag to Sponsored Programs Accounting & Administration, Administrative
Services Building. Sponsored
Programs will then notify the Fixed Assets Manager for removal from
university’s fixed asset accounting system.
Link to the CUBO 206