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Finance Division

Guidelines for Inventory Control of Capitalized Equipment

Tagging University Equipment 

The Fixed Assets Manager issues an equipment decal tag and information sheet for all single-item equipment purchase orders valued at $5,000 or greater. The decal is then forwarded to the department that received the equipment. Upon receipt, the department liaison checks the decal information sheet for accuracy of description, serial number, room number and other required information. Any missing information should be completed by the department liaison. After examining/completing the decal information sheet, the department liaison affixes the decal to the equipment listed. The liaison must return the decal information sheet to the Fixed Assets Manager, Accounting Services, 108 Administrative Services Building. 

All equipment liaisons will have secure access to the AssetWorks Inventory Management (AiM) system. The liaison will have the ability to view all relevant information for all equipment $5,000 or greater. Contact the Fixed Assets Manager for training/access to AiM.

If a decal cannot be attached, write the decal number on the equipment with a permanent marker if it is not suitable to apply the decal number. Place the decal in a secure file with a notation as to why you could not decal the item and place this same notation on the decal information sheet to be sent to the Fixed Assets Manager.

Annual Inventory of Equipment

Once a year, all departmental liaisons will receive PDF/excel copies of their detailed equipment inventory from the Fixed Assets Manager. The department equipment liaison is required to inventory all equipment and note any discrepancies and corrections on the inventory sheet. These lists are to be verified and signed by liaisons and budget center business officers and returned by email or regular mail to the Fixed Assets Manager, Accounting Services, 108 Administrative Services Building by the requested date. If equipment is not being used, please take appropriate action for transfer, surplus or disposal (See Guidelines for Replacement, Transfer, Disposal or Surplus of Equipment below). Surprise inventory checks will be performed by fixed asset personnel or by the internal auditors of the university.

Guidelines for Replacement, Transfer, Disposal or Surplus of Equipment

  • Equipment is returned to a company for repairs and the company replaces it with a new piece of equipment. Notify the Fixed Assets Manager, Accounting Services, 108 Administrative Services Building of the return/replacement along with all replacement information including the new serial number and model number. Replaced equipment will retain the same decal number as the returned item. If possible, remove the existing decal tag and place on the replacement item or write the decal number on the replacement item with a permanent marker.
  • Equipment is moved to a different location. Notify the Fixed Assets Manager, Accounting Services, 108 Administrative Services Building of the change in location.
  • Equipment is surplused. When an item becomes obsolete or unusable, complete a CUBO 206 form and forward it to Surplus Property, 108 Administrative Services Building.
  • Equipment is traded-in. Complete a CUBO 206 form and a Trade-In Document form from Procurement services. Attach to the Buyways purchase order.
  • Equipment is stolen. Campus Security should be notified so that an investigation or other appropriate action may be taken. Complete a CUBO 206 form, attach a copy of the security report and forward it to the Fixed Assets Manager, Accounting Services, 108 Administrative Services Building.
  • Equipment is transferred to another department. Complete a CUBO 206 form, have it signed by both the originating and receiving department heads and then forward it to the Fixed Assets Manager, Accounting Services, 108 Administrative Services Building.
  • Equipment is transferred to another state. Equipment cannot be transferred or sold out of state unless the following conditions are met:
    • The equipment must be bought with money from a current ACTIVE grant (fund 20 account).
    • The Principle Investigator (PI) needs the equipment to continue with his/her research on an active grant provided the grant is transferred to the same out of state entity as the equipment.
    • Approval must be obtained from the State Surplus office in Columbia. This can be processed through the Clemson Purchasing department.
  • Equipment is missing. If a piece of capitalized equipment cannot be located, an extensive search must be conducted to find it. If it still cannot be found, a CUBO 206 must be completed and signed by the department head along with a letter stating that a search has been done and explaining as to why they feel it should be removed from the university's inventory. Upon review by the Fixed Assets Manager the decision will be made whether to remove the equipment from the inventory or if further action should be taken.

NOTE:  Equipment bought for the same research on a previous inactive grant cannot be transferred.

  • Equipment is cannibalized. Equipment that is obsolete or inoperable may be cannibalized and the parts used to repair or rebuild other equipment.  Complete a CUBO 206 form and forward it to the Fixed Assets Manager, Accounting Services, 108 Administrative Services Building and/or Surplus Property, 108 Administrative Services Building.   Cannibalization of federal equipment requires written approval from the appropriate agency. Complete a CUBO 206 form and forward it and the decal tag to Grants and Contracts Administration, 321 Brackett Hall. Grants and Contracts Administration will notify the Fixed Assets Manager for removal from university’s fixed asset accounting system.

Link to the CUBO 206 form: http://virtual.clemson.edu/groups/procurement/surplus/Surplus_Property_Form.pdf

Revised 9/3/14

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