What Qualifies an Item to be placed on inventory?
Any item purchased by the university that cost $3,000.00 or more is placed on the university inventory.
When is inventory done?
Inventory is done annually. It begins in March and is completed in June.
Who does the inventory?
The inventory is done by Inventory Management with the assistance of each department on campus.
What should I do when I purchase an item that qualifies for inventory?
1. Keep concise records for audit purposes.
2. Maintain an inventory file with a copy of the purchase documents such as the purchase order, invoice, also include proof of purchase documents such as a packing slip or shippers bill of lading to show that the item purchased was the item received.
3. Note the exact location of the item by building and room number.
4. Report to Inventory Management (7258) the delivery of any item you received that is delivered directly to your department. This does not include items delivered by Central Receiving.