St. Louis Campus Procurement
Table of Contents
Asset Coordinator
Required Inventory Records
Responsibilities
Asset Procedures
Direct any questions about Asset Management to:
George Brooks
(314) 516-5379
209 Woods Hall
brooksgh@msx.umsl.edu
Inventory records must be maintained on all non-expendable, movable property
and equipment which has a single item cost over $5,000, or is a gift with
equal value, and:
- Has an expected useful life of two years or more.
- Is self-contained for its primary function (not a component part of another
piece of equipment).
- Has sufficient individuality and size to make control feasible by means
of identification tags, numbers and/or manufacturer's serial numbers marked
thereon.
Procurement Services Responsibilities
The Asset Management/Capital Inventory section of Procurement Services
is responsible for:
- Establishing and maintaining the records and procedures necessary for
the accountability of the University Capital Inventory.
- Determining the items to be inventoried and inventory numbers to be assigned.
- Affixing a barcode tag to the property or equipment.
- Providing a Capital Inventory List to departments on an annual basis for the purpose of verification and updating inventory records.
Unit Manager Responsibilities
Each Unit Manager (Dean, Department Chairperson, Director or other Officer) is responsible for:
- All property and equipment purchased or constructed for and assigned to
the department.
- Reporting transfers or losses of inventoried property or equipment to the Capital Inventory Coordinator using the Property Inventory and Change Report Form (UM27)
- Establishing and maintaining records and controls for sensitive equipment
such as guns, cameras, stop watches, pocket calculators, etc, which are
not inventoried under the provisions of this policy.
- Ensuring that the representative from Campus Procurement has ready access to buildings and rooms under their control for purposes of inspecting, verifying, and tagging equipment items.
- Authorizing the removal of University equipment form their departments for use on University business off campus and maintain written authorization in departmental file.
- Completing the annual request from Campus Procurement to review and update the year-end inventory in a timely and accurate manner.
