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Property Inventory

Outlines the process of conducting an inventory of college-owned property.

Procedure Information

For more information on this procedure, contact Management Services.


  • 6.0 Process

    A summary of property inventory process is outlined below.

    Types Subtypes Inventoried? Annual Inventory Required
    Items of Supply N/A Not Required Not Required
    Equipment (Asset) Low-Risk Assets Not Required Not Required
    Equipment (Asset) High-Risk Assets Should be included on Department's High-Risk Asset Log Not Required
    Equipment (Asset) RAMI Assets

    Must be included in RAMI



    RAMI Assets Annual Inventory

    Annually, the college will conduct an inventory of RAMI Assets following this process:

    1. The PCC shall distribute a list of RAMI Assets to equipment coordinators. The communication of this requirement will include a deadline for responding.
    2. Equipment coordinators shall review the list and conduct a physical inventory to locate the RAMI Assets.
      1. If the RAMI Asset is verified to be in the location listed, the equipment coordinator should note “Found” AND any change to the asset’s condition.
      2. If the RAMI asset is in a new location, the equipment coordinator should complete an Asset Relocation/Disposition Form AND indicate the new location of the list.
      3. If the RAMI asset has been disposed, the equipment coordinator should complete an Asset Relocation/Disposition Form AND put “Disposed” on inventory.
      4. If the RAMI Asset cannot be located, the equipment coordinator should note “Not Found.”
      5. If there is a piece of equipment with a suspected value of $5,000 or more in the room but not on the list, list the equipment on the bottom of the list with all available information. Please provide purchase order number whenever possible.
    3. Once all departmental RAMI Assets have been determined, the equipment coordinator should send the completed list and any forms to the PCC.
    4. The PCC will update RAMI to account for relocations, disposals, and acquisitions of new RAMI Assets.
    5. The PCC will investigate RAMI assets that cannot be located to determine if the equipment has been disposed or need to be reported as missing.
      1. Missing RAMI Assets should be promptly reported to University Police and PCC so it can be reported to the University Controller and Office of State Comptroller.
    6. Vice presidents and deans will assist the PCC with any departments that do not respond in a timely manner.
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