Inventory Control

Inventory control is a mandatory process of the Board of Regents where we track assets costing $3000.00 and up and/or sensitive items like weapons and vehicles. The Inventory Coordinator has the responsibility of maintaining the asset database which is PeopleSoft Asset Management Module and conducting a 100% physical inventory each year.

Asset Changes or Moves

The asset database stores critical information like cost, serial number, asset tag number, description and its location. It is very important that when an asset is transferred either from room to room or campus to campus that an Inventory Transfer Form is filled out and submitted to the inventory coordinator. The Inventory Coordinator or Logistical Services needs to be notified immediately and preferably in advance of any asset changes. The inventory coordinator will update the asset management system when notified of any changes.

Annual Physical Inventories

GPC is required to conduct a physical inventory of assets once a year. Prior to the scheduled inventory the Budget Manager will be notified and a copy of their inventory will be provided. The Budget Manager will review their assigned assets. The Inventory Coordinator will physically check each asset and verify it’s location. After completion the asset manager will review, sign and date the inventory. The Budget Manager is overall responsible for the assets within their authority.