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Policy: X.A.1

Issued: October 31, 1996

Owner: Associate Comptroller,
Financial Analysis

Latest Review: April 20, 2005

FIXED ASSETS ACCOUNTING (PROPERTY) - MAINTENANCE OF EQUIPMENT INVENTORY

1.0 Purpose

This policy describes the general guidelines for maintaining the University equipment inventory.

2.0 Policy [Top]

The University Fixed Assets Accounting Group (Property) of Financial Analysis is responsible for maintaining an accurate record of all inventoriable equipment in the possession of the University. To this end, it reviews all invoices for purchases of equipment to ensure that the equipment is recorded in property records.

To keep the equipment inventory current, departments should promptly notify the Fixed Assets Accounting Group, via the Equipment Inventory Change Request (Form P-1), when departments:

This policy applies to the following classes of equipment:

See also:

3.0 Definitions [Top]

4.0 References [Top]

5.0 Approvals and Revisions [Top]

Previous version in effect from 10/31/96 to 9/21/04 available in policy archive.

Previous version in effect from 9/22/04 to 4/20/05 available in policy archive.


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