Policies and Procedures
Policy 603 – Equipment Inventory and Reporting
December 14, 2007
October 6, 2014
October 6, 2014
Director of Logistics
Capitalized Equipment, also called Controlled Equipment, as defined in Policy 601, Definition of Capital Equipment, must be identified with a numbered UNC-Chapel Hill decal/bar code. Detailed records of Capital Equipment exist within the decal/bar code system. System reports prepared from detailed Capital Equipment records provide annual equipment inventory reports as well as inventory reports available on demand. Departments are required to report Capital Equipment location changes and missing equipment to Capital Assets, as well as affix decal/bar code labels to equipment, as requested.
Reason for Policy
The State of North Carolina requires all state agencies to maintain Asset Management systems. The State Controller's Office requires an annual physical equipment inventory to be conducted by each campus department.
Off-campus usage of University property, see Procedure 603.4
- 603.1 - Tagging New Equipment
- 603.2 - Reporting Equipment Missing or Stolen During Normal Operations
- 603.3 - Reporting Equipment Missing During Physical Inventory
- 603.4 - Reporting University Equipment Movement On and Off Campus
- 603.5 - Transfer or Sale of Equipment Between University Departments
- 603.6 - Transfer of Equipment to Other Institutions
Frequently Asked Questions
Q: My department wishes to purchase a new sorter for a copier that already has a decal. The sorter costs more than $5,000. Does the sorter need a new decal?
A: The sorter would be considered an addition to the existing copier, and the value of the sorter would be added to the copier decal asset record. The departmental requisition for the sorter should reference the copier decal.
Q: My department needs an additional lens for a microscope with a decal number. The lens purchase price is $4,500. Is this an addition to the microscope?
A: No, this lens would be considered a supply item, account 537210 is most likely.
Q: My department wants a list of Capitalized Equipment for a certain building. Can I request that kind of report?
A: Yes, equipment reports can be sorted in a variety of ways. Call Asset Management for your request.
Q: My department cannot locate a piece of equipment since our last physical inventory. What do we do?
A: Follow Procedure 603.2 as a guide to the various departments to notify. Asset Management requires a Capital Equipment Relocation form.
Q: I have equipment with a Computer Repair Center Tag. Does this mean it is on my equipment inventory?
A: Asset Management's silver and blue tags say clearly "Property of UNC-CH" with a bar code and decal number.
Q: My department is being relocated due to construction or renovation. Should I contact Asset Management?
A: If the temporary move is expected to last three months or more, Asset Management should be notified. Request a report from Asset Management and note the assets that are changing location. Submit this report with notations to Asset Management. It is not necessary to submit a Capital Equipment Relocation form with the report.
- 601 - Definition of Capital Equipment
- NC Office of State Controller, Physical Inventory Policy
- NC Office of State Controller, Fixed Asset Overview
|Capital Equipment||Asset Management||919-962-6267||919-962-6271||Logistics_team@unc.edu|
October 1, 2014: Updated account number in FAQ section.
July 6, 2012: Added information from North Carolina Finance Improvement and Transformation Project Capital Asset Standards version 5.1.
July 16, 2009