Property Accounting:

• Responsible for maintaining the accuracy and integrity of the perpetual inventory system.
• Ensuring that property and equipment is acquired, transferred, and/or disposed of in accordance with University policies.

Purchasing/ Receiving:

Responsible for the following procedures:

• Ensuring that all purchase orders related to property and equipment are coded to the appropriate asset object code.
• Affix asset tags and record identifying information to be entered in the perpetual inventory system.

Department Heads (“Administrative Manager” of each office):

The Administrative Managers are responsible for the following procedures:

• Fiduciary responsibility to safeguard and maintain property and equipment for the use of the department.
• Responsible for the completion of the Property Accounting form in the event of a change in location or disposal of any equipment.
• Assist in the completion of the property and equipment physical inventory.

Controller’s Office – Accounts Payable Department:

The Accounts Payable Department is responsible for the following procedures:

• Provide copies of all invoices related to property and equipment.
• Verify the appropriate asset object code is utilized on the Invoice.