INVENTORY PROPERTY CONTROL POLICY & PROCEDURE
Approved by Executive Council 10/4/11
This policy and procedure has been prepared to provide guidance and guidelines governing SUNY Plattsburgh’s policy on Property Control and to assist departmental personnel in the understanding of that policy.
Overview of Key Terms and Definitions
1. Why is it necessary to maintain an inventory of property?
Ø To be in compliance with the Rules and Regulations as established by the Office of the State Comptroller and The State University Research Foundation.
Ø To establish a basis for projecting and budgeting asset replacement.
Ø To establish a basis for projecting future budgets in support of assets for new or renovated facilities.
Ø To enable accountability for increased security against pilferage of vulnerable assets.
2. What is the Property Control System? (PCS)
Ø The Property Control System is a database maintained by SUNY System Administration whereby the campuses are required to enter assets with a value greater than $5,000. SUNY Plattsburgh Internal Control Committee has recommended and adopted a policy setting the SUNY Plattsburgh dollar threshold for entry on the SUNY PCS system at $2,500. The Property Control System will be referred to as “PCS” in the rest of this document.
3. What is a SUNY Plattsburgh Property Control System Asset?
Ø A Property Control System Asset is any item of equipment or furniture with an original cost of $2,500 or greater that has a life expectancy of more than one year, and is not consumed in the course of use. These items will require a white bar coded tag for establishing ownership and inventory tracking purposes. See “Workflow for PCS Assets” for description of process for input of assets on PCS.
4. What is a High Risk Asset (Asset with a value less than $2,500)?
Ø A High Risk Asset is any item that has an original cost of less than $2,500, has a life expectancy of more than one year, and is not consumed in the course of use and is any asset that has an intrinsic value and can be easily taken without permission. These items will require a red “Property of SUNY Plattsburgh” tag to establish ownership.
5. How will records be kept for High Risk Assets?
Ø The recommendation of SUNY Plattsburgh Internal Control Committee for High Risk Assets is that high risk assets shall be tracked at the Administrative or department level using Attachment C the “High Risk Asset Log, Items less than $2,500” and it is up to department or administrative area to determine what assets they consider to be of high risk.
6. Asset Valuation
Ø The total cost of the asset includes the cost of the item, shipping or freight cost, supplemental software added to the asset, any installation costs, etc. All costs should be added together to determine the assets value.
7. Who is the owner of the asset(s)?
Ø Title to all assets is held by the State of New York for the purpose of inventory control and accountability. Owner shall be defined as that department which is the ultimate user of the asset.
Ø Research Foundation assets are the property of the Research Foundation for use by the Principal Investigator on Campus.
Ø Student Association assets purchased through the Student Association accounts remains the property of the Student Association.
Ø College Auxiliary assets purchased through the Auxiliary Service accounts remains the property of the College Auxiliary Services.
8. What is The Property Control Coordinator? (PCC)
Ø The Property Control Coordinator is the person designated by the Campus Administration to ensure that the Property Control System and Valuable Asset Logs are maintained and current to ensure that the campuses assets are documented.
9. What is an Equipment Coordinator?
Ø Is an individual at the Administrative or Department Level who will assist the Property Control Coordinator in maintaining inventory of PCS assets and high risk assets.
Inventory Process Requirements
Suggested Areas to have Equipment Coordinators:
SBE, A&S, HHE, LIS, UP, Athletics, Research Foundation, Residence Life, Business Affairs, Institutional Advancement, Office of the President, the Branch Campus or department level if necessary.
Equipment Coordinator Responsibilities
1) Notify Property Control Coordinator of any and all equipment received by a department that does not have an inventory control sticker affixed to it. (white tag with a barcode)
2) Keep accurate and up to date records on the Attachment C “High Risk Asset Log, Items less than $2,500” of all equipment assigned to the area.
3) Assist Property Control Coordinator with Bi-Annual complete physical inventory of PCS items over $2,500
4) Notify PCC of any location moves, additions, deletions of any PCS assets over $2,500 Attachment D “Asset Relocation Form” and Attachment B “Equipment Disposal Form”
5) Update electronic Attachment C “Valuable Asset Log Items less than $2,500”
6) Notify PCC of any missing assets.
Bi Annual Physical Inventory Process of Assets over $2,500 Using PCS Printout
PCC with assistance of Equipment Coordinator will locate assets – make a check mark to the left of the asset number verifying all of the following information:
Department account number
Status and condition – this data on each asset has a direct effect on your asset replacement budget.
Location (Building, Floor and Room)
Assets Appearing on PCS Printout but Not In the Room
If PCC is unable to determine the location of a particular asset write “unaccountable” to the left of the asset number.
Assets Located In the Room but Not On the PCS Printout
List the asset(s), with a value greater than $2,500, on the bottom of the printout with all available information. Please provide purchase order number whenever possible.
Definition of PCS Printout Data Fields
1. Department account number – 10 digit account number used for inventory purposes and to identify department owner of asset.
2. Building – The abbreviation of the name of the building in which the asset was last located.
3. Room number – The room number in the building in which the asset was last reported. 0B(basement) 01(first floor) 02(2nd floor) etc..
4. Asset Number – 10 digit number beginning with 24(campus
Identification) followed most generally by an X and seven digits.
5. QTY – Quantity for all asset records should be 1.
6. Description – This field gives a brief description of asset using up to
7. Manufacturer – Identifies manufacturer of asset.
8. Model – Identifies manufacturer model number.
9. Serial Number – Identifies manufacturer serial number.
10. ST – Status This is a single alpha or numeric field which indicates
current status of asset.
Numeric indicators signify active status
1. Active and in continued use
2. Limited use
3. In storage
5. Under repair
6. Not in use(repairs planned)
7. Antique and/or works of art
8. Available for shared use within college
11. FD – Fund code indicates the source of funds used to
acquire the asset.
1 = State Capital Bonded
2 = State Capital Hard Dollar Appropriation
3 = State Operating
4 = Dorm Authority
5 = CAS
6 = Research Foundation
7 = Gift
8 = Original Source unknown
9 = Mixed source of funds
B = Endowment
C = Grant
D = Income Fund Reimbursable
E = Loan (on loan to college)
F = CAS – State Owned
G = Dormitory Replacement Budget
H = State operating replacement
J = Dorm Operating and Dorm IFR
K = Campus Foundation
M = State operating (COPS)
12. CD (condition) – Indicates current condition
E = Excellent – new equipment or that which is slightly shopworn
G = Good – equipment used on a regular basis, repairs made as required
F = Fair – equipment that is damaged to extend that use may be impaired
P = Poor – equipment badly worn, broken, use seriously impaired
S = Scrap – equipment that has no future use, cannibalized or beyond repair
13. O Cost – Original Cost, actual cost of equipment which includes any secondary costs, such as shipping, added software, set up charges, etc.
14. AC/DT (acquisition date) – The month and year equipment was placed into
15. Purchase Order Number – Number used to acquire equipment/asset
Algonquin (ALGQDH) Memorial (MEMPE)
Angell Center (ANGCTR) Myers (MYERFA)
Beaumont (BMNTHL) Redcay (REDHL)
Clinton (CLINHL) Saranac (SARHL)
CV Hall (CVHALL) Sibley (SBSERD)
Feinberg (FBGLB) Service Bldg (SERB)
Field House (FLDHSE) Garage (SERG)
Hawkins (HAWKIN) Ward (WARD)
Heating Plant (HP) Yokum (YOKCLH)
Hudson (HUDSON) 102 Broad (102BRD)
Infirmary (INFIRM) 133 Court (133CRT)
Annual Partial Physical Inventory Process of Assets less than $2,500 Using High Risk Asset Logs
PCC using Attachment C the High Risk Assets Log, Items less than $2,500 maintained by the administrative are or department will locate assets and confirm
Department account number
Status and condition – this data on each asset has a direct effect on your asset replacement budget.
No equipment under the jurisdiction of Plattsburgh State University is to be disposed of, loaned, donated or permanently removed from campus without proper authorization from the Property Control Coordinator.
All surplus equipment is to be reported to the Property Control Coordinator. Equipment that is in poor or scrap condition is disposed of differently from surplus equipment that is in a usable condition. Surplus property must go through the surplus process regardless of cost. Departments are to fill out a Surplus Equipment form (attachment B) giving as much information as possible i.e. manufacturer, model number, serial number, decal number, location, condition and cost.
Should the equipment not be utilized by another department on campus the Property Control Coordinator will process the appropriate paperwork through Central Administration to dispose of this equipment in accordance with the existing state policies and procedures. If the equipment is deemed poor or scrap it can be disposed of by the campus, but only after it has been documented by filling out an attachment B.
If you believe a piece of equipment is missing or stolen contact University Police immediately. University Police will file a report requiring the following information:
Manufacturer, serial number, model number, SUNY decal number, where it was last located and value if known. University Police will prepare report and send a copy to Property Control Coordinator.
When an asset is being given to the college, or a specific department, with a value less than $100,000, it must formally be accepted by the Vice President of Business Affairs. The following information is required:
Approximate market value of gift
General description of gift
Any restrictions attached to gift
Any correspondence or document from donor or estate attorney, if a
bequest is involved
Any gift with a value greater than $1,000,000 is required to be approved and accepted by the SUNY Chancellor.
All equipment received on campus at the Central Warehouse with a value greater than $2,500 will have a SUPC tag (white label with barcode) affixed to it. Should your department receive any equipment directly from a vendor or from the Central Warehouse without an SUPC tag please notify the Central Warehouse immediately to arrange for equipment to be tagged. Have a copy of the purchase order available for warehouse personnel.
All equipment with a value less than $2,500 that is considered High Risk shall be tagged with a red “Property of SUNY Plattsburgh” tag.
STATE UNIVERSITY COLLEGE PLATTSBURGH MAINTENANCE AND CONTROL OF EQUIPMENT
Equipment shall include items of machinery, vehicles and apparatus procured or fabricated, of a durable nature with an expected life of more than one year.
Equipment Inventory Responsibilities
1. The Property Control Coordinator will maintain the official records and inventories for all groups of equipment for which title rests with State University of New York at Plattsburgh in accordance with existing guidelines. The Property Control Coordinator is to maintain an inventory of all equipment owned by the State of New York at Plattsburgh and equipment loaned or assigned to agencies using State facilities (State Purpose, Income Fund Reimbursable, Dormitory Income Fund Reimbursable, Construction Fund and Dormitory Authority Fund): Research Foundation and College Auxiliary Services accordance with their respective laws, bylaws, and contractual obligations.
2. The Property Control Coordinator shall be responsible to see that a full physical inventory of all equipment items will be taken every two years and sample inventory will be taken annually in accordance with existing guidelines.
3. All Department Administrators/Deans, project directors, or other designated responsible
Department Heads shall appoint an Equipment Coordinator that will be accountable for equipment assigned to each room in their department and shall assist the Property Control Coordinator in establishing and maintaining inventory control.
1. All new equipment must be delivered to the Receiving Department on Sanborn Ave.
2. All equipment is to be tagged by the Receiving Department with a bar code identification
decal if unit cost is $2,500.00 or greater
3. All equipment should be maintained in safe, operable condition.
4. If equipment is assigned to a room, it is assumed it has a function of being regularly utilized. The Property Control Officer should be notified of any underutilized equipment as a result of purchasing activity, program modification, asset deterioration and/or obsolescence.
5. No item of equipment will be permitted to leave the premises without prior authorization from the Department Administrator/Dean and/or the appropriate Vice President.
6. Equipment transfers, temporary or permanent, must be recorded on an ASSET RELOCATION FORM (attachment D) filled out by the Equipment Coordinator and approved by the Department Administrator/Dean and forwarded to the Property Control Coordinator. This will assist the Property Control Coordinator in maintaining an accurate record of equipment between annual inventories.
7. Any equipment which is lost or stolen must be immediately reported to the Director of University Police, who will, in turn, notify the Property Control Coordinator.
For more information about Administrative Policies approved Executive Council, please contact:
Cindy E. Fuller
Management Services Coordinator
Mangement Services Office
Office: Kehoe 710-11
Phone: (518) 564-25398
Fax: (518) 564-2540