Policies and Procedures
Procedure 603.3 – Reporting Equipment Missing During Physical Inventory
February 22, 2000
July 13, 2009
Director of Logistics
Equipment reported as missing during a department's annual physical inventory is tracked in the records of Capitalized Equipment. Attempts to locate missing equipment is the responsibility of the department with assistance from Asset Management. Equipment suspected as stolen should be reported per Procedure 603.2, Reporting Equipment Missing or Stolen During Normal Operations.
Forms and Instructions
Asset Management provides each department with reports with which to conduct an annual physical inventory. Inventories are scheduled throughout the fiscal year. Physical inventories are to be completed within 45 days.
Upon completion and return of your department's inventory reports, Asset Management will record indicated changes and produce an updated report for your files, and a report detailing any missing equipment. Departments then have 45 days to locate missing equipment. Asset Management will assist departments in locating their missing equipment as requested. Until located, equipment will be classified as missing on the department's inventory.
At the end of 45 days, Asset Management will review any equipment not located and inform the Director of Procurement Services. If further investigation is required, Asset Management will advise the appropriate department heads or deans.
603.2 - Reporting Equipment Missing or Stolen During Normal Operations
July 13, 2009
December 14, 2007