BS5660 - Inventory Control System

1. Institutional Regulations
   
   All College equipment must be included in an “Inventory Control” system as mandated by the State Auditor’s office.
    
2. Procedure
   1. The Business Office is responsible to establish and maintain the Inventory Control System.
   2. Inventory Control Numbers
      1. The Business Office will assign all College equipment an Inventory Control Number.
      2. Numbers will be provided for each piece of equipment purchased by or donated to the College.
      3. The inventory number shall be affixed to the equipment by the responsible department.
      4. If an inventory number is lost or is not legible, the responsible department shall request a replacement tag from the Business Office.
   3. Equipment Custody.
      1. Each program or department is responsible for the safekeeping and maintenance of the equipment recorded in its program/department.
      2. An updated list may be requested, from the Business Office.
   4. A physical inventory shall be conducted annually.
      1. Prior to June 30, the Business Office shall provide a current listing of equipment to each department.
      2. It is the department’s responsibility to:
         1. Verify the presence of all equipment on the list;
         2. Add to the list equipment located within the department, but not on the list.
         3. Fully explain the current location or disposition of any item on the list, but not present within the department.
         4. When completed, the Department head shall sign, date and return the updated listing to the Business Office.
      3. Inventory control shall:
         1. Update the computerized files to reflect the departmental changes
         2. Reconcile all departmental deletions with acceptable reasons, paying particular attention to equipment lost, stolen or otherwise unaccounted for.
      4. The Business Office shall have the authority to employ other inventory verification methods as deemed appropriate.
   5. Transfer of Equipment Items between areas of responsibility:
      1. If an equipment item is transferred from one area of responsibility to another, a “Equipment Transfer Report” must be completed by the area the item is leaving.
      2. The Equipment Transfer Report is to be approved by both areas involved and the original forwarded to the Business Office