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 and/or entering the information into the Inte-Great Property Management (IPM) system, the department liaison affixes the decal to the equipment listed. If the liaison chooses to complete the information sheet in place of entering the information into IPM, he or she must return the decal information sheet to the Fixed Assets Manager, Accounting Services, Administrative Services Building.
All equipment liaisons will have secure direct entry access to the IPM system. The liaison will have the ability to enter required information into IPM instead of manually entering the data on the decal information sheet. Contact Lora McAlister ( email@example.com) for training/access to IPM.
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, or enter the information in the Notes tab section of IPM.
Annual Inventory of Equipment
Once a year, the Fixed Assets Manager will furnish each department a copy of their detailed equipment inventory listing of single items valued at $5,000 or greater. These lists are to be verified and signed by liaisons and budget center business officers and returned to the Fixed Assets Manager, Accounting Services, Administrative Services Building. If equipment is not being used, please take appropriate action for disposal. Note any discrepancies on the inventory sheet and these will be corrected in the university’s fixed asset accounting system. 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. Change the serial number and/or model number in IPM or send the information to the Fixed Assets Manager, Lora McAlister at firstname.lastname@example.org. Equipment replacement will still 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 item with a permanent marker. Notify the Fixed Assets Manager of the replacement.
Equipment is moved to a different location. Change the location information in IPM or send the new room and/or building name to the Fixed Assets Manager, Lora McAlister at email@example.com.
Equipment is surplused. When an item becomes obsolete or unusable, complete a CUBO 206 form and forward it to Surplus Property, 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, Administrative Services Building.
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.
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, Administrative Services Building.
Equipment is transferred to another state. Equipment cannot be transferred or sold out of state unless the following conditions are met:
o The equipment must be bought with money from a current ACTIVE grant (fund 20 account).
o 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.
o Approval must be obtained from the State Surplus office in Columbia. This can be processed through the Clemson Purchasing department.
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, Administrative Services Building and/or Surplus Property, 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 Sponsored Programs Accounting & Administration, Administrative Services Building. Sponsored Programs will then notify the Fixed Assets Manager for removal from university’s fixed asset accounting system.
Link to the CUBO 206 form: http://clemson.edu/procurement/surplus/documents/CUBO206_enabled.pdf