University of Missouri - St. Louis

St. Louis Campus Procurement

Asset Management Procedures

The University maintains an inventory of all moveable equipment costing $5,000 or more. An inventory number is assigned to each piece of equipment and a barcode tag is attached. The Unit Manager (Dean, Director, Chairperson or other Officer) is responsible for all equipment purchased for and assigned to their department and must report any transfer, trade-in or loss of equipment to the Capital Inventory Coordinator in the Campus Procurement Office. Each Unit Manager shall notify the Coordinator of equipment transferred from one department to another and of equipment obtained from individual or corporate donors on form UM-27. A separate listing of equipment is maintained for each department or division within the University.

I. Identification and Assignment of Inventory Number

• All capital equipment is assigned an PeopleSoft account of 770000 which appears on each Requisition.
• These orders are pulled and prepared for tagging. This insures that all orders received are scheduled for tagging within 30 days of receipt.
• The Coordinator assigns a barcode label for the specific item and gives the information to a member of the Campus Procurement staff to tag the equipment.
• Inventory Coordinator receives daily Purchase Orders on all equipment to be tagged.

II. Tagging

• The tagging of capital equipment items $5,000 and over should be completed within 30 days of receipt.
• Tagging is the responsibility of Campus Procurement and is done by the Inventory Coordinator.
• The campus uses a barcode system for the tracking of capital equipment.
• Barcode labels will be placed in an easily scannable location on the equipment. When placing a barcode on a piece of equipment, the following order of preference will be used unless a specific situation dictates otherwise.
  • Front of equipment.
  • Right side of equipment.
  • Left side of equipment.
  • Top of equipment.
  • Back of equipment.
  • Bottom of equipment.
• There are times when it is impossible to tag an item because of its physical location. In this instance, the number is assigned and the information noted as "Physically Unable to Tag".

III. Property Inventory and Change Report UM 27

• For any additions, deletions, or transfer of inventory the originating department should complete form UM-27 and send it to the Capital Inventory Coordinator. Form UM-27 is available from Campus Procurement (See Forms.). An online form, providing most of the capabilities of UM-27 is also available.
• The form is used to enter the appropriate information into the capital inventory database and is filed in the departent's capital inventory file.

IV. Annual Capital Equipment Report

• Once a year a Capital Equipment Inventory Report is issued to all departments with a request for them to review the report and submit any corrections which need to be made to the Asset Management Coordinator. The report includes the following information:
  • Department Number
  • Item Description
  • Serial Number
  • Vendor
  • Main Class (category code)
  • Building
  • Room Number
  • P.O. Number
  • P.O. Date
  • Price
  • Date Changed
  • Total Original Valuation of Equipment
• Each department is to take a physical inventory and make any corrections necessary. The report is returned to the Coordinator who will make the appropriate changes. If no changes are necessary the department must return a verification sheet indicating this status.

VI. Maintenance of Records for Permanent Inventory

• All Capital Inventory records are maintained in Campus Procurement. This includes all records related to equipment purchased, donated or built that cost $5,000 or over. Records include copies of purchase orders, 'IOF' Internal Order Form, UM-27 forms, equipment inventory printouts, and other related records.