- University-owned movable equipment must be audited once biannually in conjunction with the department and outside vendor (HCA Asset Management) to which the equipment is assigned.
- Government owned equipment must be audited annually by the department to which the equipment is assigned.
Inventories performed by Departments
- Departments perform a physical inventory of artwork, software and non-taggable assets, using a Capital Asset Management produced listing for the inventory.
- The Capital Asset Management Office notifies departments each Fall what assets to perform an audit.
- Instructions and an electronic asset report are emailed to departments to assist them in complying with the audit requirements. The audit is to be completed and returned to the Capital Asset Management Office.
- Departments must verify the existence, location, and custodian of all equipment items assigned to them on the listing.
- Proper Addition, Deduction, Transfer, and Surplus forms must be returned to the Capital Asset Management Office upon completion of the audit. The completed inventory with updates will be posted to the asset management system.
- Department Executive Officers are required to review the completed inventory, sign the "Certification Letter" that accompanies the worksheet, and return the entire packet ("Certification Letter", worksheet, and other forms as necessary) to the Capital Asset Management Office.
Inventories performed by Capital Assets Management
- Capital Asset Management personnel may conduct an audit of a particular department's equipment. This may be done at the request of the Department, the Office of the State Auditor, or the Internal Audit Office, or it may be initiated by the Capital Asset Management office.
- Once the physical count has been completed and reconciled, the proper forms are sent to the Department for verification, completion, and approval.
Inventories performed by Outside Vendor, HCA Asset Management (HCA)
- HCA is given a Capital Asset Management produced listing of all tagged assets.
- HCA uses a scanner and scans all equipment with a University tag.
- Using the Capital Asset Management provided list with the scanned equipment report, this generates a variance report.
- HCA use their variance report to work with the departments to locate the remaining assets. A Capital Asset Management exception report is generated showing variances between HCA report and PSAM records and is additionally followed up with the departments for review.
- HCA provides Capital Asset Management with an Excel file of the findings; tag, building, and location are uploaded into the PSAM system.
- HCA provides a signed letter stating the inventories are correct.