
Inventories
Fixed Assets must record the acquisition, transfer/relocation, and disposal of equipment assets of the University in accordance with University policies and applicable state regulations. It is our goal to help maintain departmental inventories
in the most current condtition.
Annual Inventory
Equipment inventories are conducted on an annual basis. Discrepancies in location
or custodian/reporting of lost or missing items and asset condition are noted on the inventory and returned to the Fixed Assets Department with the required supporting documentation. Complete instructions are sent to each department with the inventory. See Policies section above for further instructions for Lost or Stolen Equipment.
Inventory Custodian Duties
- Physically locate each asset on inventory list.
- Update list with additions, items not located/missing, and relocated assets.
- Identify condition of asset.
- Use location list and codes delivered with inventory list.
- Return updated list and any applicable forms to Fixed Assets
- All inventories MUST be signed by the Department Head.
Inventory Anytime
Print your own up-to-date inventory report.
- Use SSRS reporting tool.
- SSRS>Financial Reports>Campus Reports>Miscellaneous Reports>Inventory by Department.
- Select your department from the drop down and then select the fiscal year value for the report header.
- Select View Report button on the top right corner of the page to execute your selection.
Spot Checks
UNC Business Process Standards issued by the UNC Business Process Compliance Office requires an annual spot check of assets to ensure that they are properly accounted for. Spot check lists are compiled at random from the current capital equipment assets list. Lists are generated after the return and processing of annual departmental inventories no later than November and thus passed along for completion to the randomly selected departments.
Helpful Tools
Our training powerpoint for the Fixed Assets and Equipment Tracking class may answer some of those lingering questions. Check it out!
Equipment Account Codes
We now have an updated equipment account code listing including new accounts for federally procured property.
Fixed Assets Tips
Use our Fixed Assets Tip Sheet for a quick reference guide for Banner Fixed Asset searches, Account Code tips, and much more.