Annual Major Equipment Inventory Procedures
Departments will receive a memo from Asset Management once per year (fall) with instructions for completing the annual major equipment verification. Due dates are communicated at this time.
Run the Major Equipment listing for your department:
The inventory coordinator for each department should run the major equipment listing to excel.
Note that this report will also include minor equipment. See the Minor Equipment link for specific minor inventory procedures.
Physically Verify all Major Equipment:
Major equipment needs to be physically verified by the inventory coordinator in your department. The inventory coordinator will clearly notate any changes or exceptions on the equipment listing.
-Any changes to asset description, room number, location, etc. should be clearly marked on the excel file. You can either print the file and make notations with a red pen, or use red font in a blank column to the right of the downloaded data.
-Any discrepancies between your physical count of major equipment and the equipment inventory listing need to be reconciled. See below for a list of common discrepancies.
Complete the Major Equipment Verification Report:
The inventory coordinator who completed the physical count of major equipment needs to complete the Major Equipment Verification Report. The Department Head must also sign this report.
Attach any supporting documentation:
Attach to the Major Equipment Verification Report the major equipment listing printed from excel with any notations. Also, attach any copies of surplus property forms that have been submitted by your department to Facilities. Attach any major equipment transfer forms as well.
All equipment being used off campus PERMANENTLY or PRIMARILY (more than 50%) for 7 consecutive days or more should be designated as "OFF-CAMPUS." Equipment used off-campus less than 50% should NOT be listed as OFF-CAMPUS.
- Example of equipment not required to be listed as OFF-CAMPUS: a laptop an employee may take home in the evenings or weekends.
- Example of equipment required to be listed as OFF-CAMPUS: research equipment housed in a trailer that is in the field 50% or more of the time for 7 consecutive days or more.
Discrepancies between your Inventory Item List and items in the department's possession may be attributed to:
Equipment Transferred to Another Department
Items on your Inventory Item List that have been transferred to another department within the University must have an Equipment Transfer and Status Report form completed at the time of the transfer. A copy should be attached to the Annual Inventory Item List.
Note: It is the department’s responsibility to ensure that the department receiving the equipment completes their portion of the form and returns it to Asset Management. The transfer of equipment will not be processed until Asset Management receives the original transfer form.
To remove stolen equipment from your Annual Inventory Item List, draw a line through the entry and mark "D" after the item number. Identify the item as "stolen" on an Equipment Transfer and Status Report form. Route the form to Asset Management.
Attach copies of the Police Report and Equipment Transfer and Status Report form to the Annual Inventory Item List.
Attach a copy of the surplus property form to the Inventory Item List.
Major Equipment that has been surplussed must remain on your Inventory Item List until it is transferred to the Surplus Property department. Surplus Property will notify Asset Management once the equipment is received. The transfer will only be processed in PeopleSoft after notification from Surplus Property.
Note: When surplussing inventory, do not send the original form to Asset Management but rather to Surplus Property. Contact Mark Peters (7-3125) in Surplus Property with any questions.
Any equipment that cannot be located during your inventory should be documented on your Annual Inventory Item List as “lost - month/year” in red ink next to the tag number.
All departments with lost items will be required to conduct a follow-up search for the lost items within 6 months of their regular inventory deadline.
- Asset Management will send a list of lost items to departments after receipt of their annual inventory.
- Departments will conduct a second search for lost items.
- Upon completion of the search for the lost items, departments will complete an Equipment Transfer and Status Report for any items they were unable to locate during the secondary search. The head of the department must sign this form.
- Asset Management will delete lost items from inventory upon receipt of completed Equipment Transfer and Status Form.
- If an equipment item has been deleted and is later found, the department should notify Asset Management in writing to request the equipment tag number be reactivated.
Untagged New Equipment
List equipment that is not tagged with a cost equal to or greater than $5,000 at the end of your Annual Inventory Item List. A purchase order number and voucher ID must be provided to identify the item.
Tagged items found in your location(s) but not listed on your Annual Inventory Item List should be added at the end of the report. This is very important as a means for finding equipment that may be listed as lost on another department’s inventory.
In some instances, UND may be required to insure equipment items that are either being rented or are on loan to the University.
If you have such items on your inventory list, please verify that these equipment items are still in your possession and that UND is still required to insure them.
If the equipment has been returned, please note this by drawing a line through the item on your inventory sheet and adding a note in the margin. You will also need to complete an Equipment Status and Transfer Form to have the items deleted from the Annual Inventory Item List.
If your department has possession of loaned or rented equipment that UND is required to insure, please contact Asset Management @7-3126 or the Insurance Office @ 7-3341, to initiate the process of adding it to your Annual Inventory Item List.
Equipment Missing it's Tag
Equipment located in your department that does not have a tag but is listed on your Annual Inventory Item List should be underlined on the list and marked with an “R” after the tag number. A replacement tag will be engraved and sent to the department to be placed on the equipment.