Inventory Policies
and Procedures
DE-437 (Required)
Class Objectives
• Establish an understanding of Inventory and
Inventory’s role.
• Understand why a physical inventory is
conducted.
• Understand the basic steps of performing
physical inventory.
• Recognize the importance of updating inventory
statuses and locations
Why is inventory management so
important?
Because The University of Texas at Austin
has over $2 billion worth of assets in which
to maintain and report to the State of Texas
and over $160 million reportable to federal
agencies.
The best way to track equipment is to know where the
equipment is at all times. Always update the location of an
asset in *DEFINE commands NV1, NVP, or the FRMS
Departmental Inventory Portal when the location changes!!!!!
Let’s keep UT out
of the headlines!
Whose “stuff” is it anyway?
All equipment is considered
state property unless designated as
federal or privately owned!
Ownership codes for an item are
determined by funding source:
Look for the following on your equipment listing
to determine who owns the asset:
U-University, P-Private, F-Federal
How are assets acquired?
 Purchases - purchase orders, Procards (VP7), etc.
 Noncash gifts from vendors, individuals, etc. must be reported
through the University Development Office.
 Transfers into the university as a result of a Principal investigator
(PI). Notify Inventory Services at oa.inventory@austin.utexas.edu.
 Inter-agency transfers from another state agency such as TX DOT,
UTMD Anderson. Complete and submit form Property Transfer
Receipt – Incoming to Inventory Services.
How are assets acquired? Continued
 Equipment transferred to the university from a non-Texas state
agency or private institution. Submit the Non-Texas State Agency
Incoming - Property Transfer Receipt form to Inventory Services.
 Equipment found in the department that meets the controlled or
capitalized thresholds but was assigned a noninventory object code
and therefore not in *DEFINE. Notify Inventory Services at
oa.inventory@austin.utexas.edu of this equipment.
 CCART NT1 electronic transfers from other departments.
How are assets acquired? continued

Completed fabrications or CIP - departments complete construction
of one of a kind item. See HBP for definition of fabrication:
Handbook of Business Procedures (HBP) 16.5.5.6
Fabrication/Cannibalization of Equipment.


Government-furnished equipment - GFE equipment is furnished by
the U.S. government to the university to be used for research and
development in research contracts or grants. Title is with the U.S.
government.
Federal excess personal property - government-furnished equipment
that is obsolete to the government
For any questions regarding CIP, GFE, and FEP, contact the
Federal Inventory team at InvFed@austin.utexas.edu
Non-monetary Gift
•
If your department receives any non-momentary or
noncash gift such as equipment, furniture , software,
artwork ,or vehicles from an individual donor or
corporation please report these assets to the UT
Development Office for appropriate recording.
•
Inventory Services is notified by the Development Office
once the gift process has been finalized for possible
inclusion to the Inventory system.
•
Because of IRS tax donor credit once added the gift must
remain in *DEFINE for two years before it can be disposed
of or transferred to surplus. The department should
contact the Development office if such a need arises before
the 2 years.
Inventory Services Role
• Maintains equipment inventory records on shared
mainframe database.
• Locates and tags university equipment as it is
purchased and received by departments. For
departments that self-tag, we use their details to
add assets to *DEFINE.
• Conducts and monitors the annual physical
inventory cycle. Audit those reports submitted by
the university departments.
Inventory Services Role
• Provides inventory information and reference resources
to department personnel.
• Ensure that university and state policy guidelines are
being met.
• Reports and reconciles inventory records and values to:
• Annual financial report schedules
• State of Texas Comptroller’s Office
• Federal agencies
The Inventory Contact’s Role
• Tracking (tagging and updating item’s
locations in *DEFINE or Inventory web
portal if asset moves)
• Reporting (conduct annual physical
inventory and report results on
certification)
• Reconcile (NVP department equipment listing to
what you have in your possession and
complete IRR removal forms for relinquished
equipment)
Tracking Inventory
What gets tagged?
• Capitalized Assets—assets whose purchased
value is equal to or greater than $5,000
• Controlled Assets—assets whose cost is between
$500 and $4,999.99 and fall under the special
category designated by the state
Examples of Controlled Equipment
($500 to $4999.99)
•
•
•
•
•
cameras & camcorders
projectors
stereo systems
televisions & VCRs
computers: desktop CPUs or portable
laptops
• Smart Phones, Tablets and other
HandHelds
• hand guns & rifles, regardless of cost
What is not controlled?
•
•
•
•
•
•
•
•
computer-related equipment not PC’s or laptops
scientific equipment
monitors
printers or servers
hard drives
cards
furniture
Software - “Software must be 100K or more to be
capitalized and Licenses must be greater than 1 year”.
In order to be tagged and included on your inventory, this
equipment must be $5,000 or more in value (it becomes
capitalized).
Tracking Inventory
• Tagging the Equipment
• Inventory field representatives
• They are deployed automatically based on
purchasing data.
• To request tagging, e-mail
oa.inventory@austin.utexas.edu.
• Departments that participate in self-tagging
• After tagging assets, these departments
send the tagging detail to Inventory Services
for processing.
• This information should be sent monthly.
Tracking Inventory
• All “capitalized” or designated “controlled” assets
must be tagged within 30 days of receipt. “See
Best Practices for self-tagging on our web page”
https://www.utexas.edu/business/accounting/in/
• Any asset not meeting the “controlled” or
“capitalized” thresholds should have a noninventory object code and will not be added to
*DEFINE. These assets can be tagged with blank
tags that identify the item as UT property but do
not have a tracking number.
Questions you may have when conducting
physical inventory.
Who? Why? When? And How?
•
Who is designated as the inventory contact
responsible to ensure that my department is
compliant?
• Why do we conduct a physical inventory?
• When do we perform inventory?
• How is physical inventory performed?
To determine who is your contact see *DEFINE
command GG5 for contact information for your
department
If you are assigned the role of the inventory
contact for your area:
• Verify the *DEFINE GG5 screen for accuracy.
• Work with your supervisor and team members
to determine which unit codes you are
responsible for.
• Be sure that the correct inventory contact is
listed in GG5 for all units and subunits in your
department . If your name is listed, you are
responsible.
*DEFINE command GG5 can be updated via
the OHS system
To assign department contacts at the unit code level,
go to List Contacts in the (OHS) Organizational Hierarchy
System. This new system will allow you to
assign secondary or backup contacts.
https://utdirect.utexas.edu/ohs/contacts/
To update the unit head of a unit, complete
the complete the Signature Desk Request
form
http://www.utexas.edu/business/accounting/sign/
Why do we conduct a Physical
Inventory?
The provisions of the 52nd Legislature:
• Regular Session 1951
• House Bill Number 753, Section 5 (3)
• Requires state organizations to take a complete
physical inventory of all equipment in their
possessions once each year
Results reported to:
State Comptroller
TEX.GOV’T CODE ANN.sec. 403.271 (b)
When do we perform Inventory?
Inventory Services establishes eight inventory
cycles. Cycle deadlines are based on the number of
items assigned to the departments. The deadline
for Cycle 1 is Jan. 27, 2014. All other Cycle
deadlines will occur between February through
June.
The FY13-14 cycles have been posted to the
inventory web page and may be viewed at anytime.
Please Note-You may begin your inventory at any
time the system is open- the earlier the better.
How is physical inventory
performed?
 Manual status update to *DEFINE or
Inventory web portal if you have 100
items or less.
 Status updates via scanning your
equipment.
Once *DEFINE is open you may request a
scanner by emailing:
scanhelp@austin.utexas.edu
Complete Four Basic Steps
The annual physical inventory process is a
procedure performed annually to account for
assets and equipment belonging to the
university.
Use the NVP report:
4. Report
3. Reconcile
2. Scan
1. Locate
Tips, Tidbits, and Hints
• Start early.
• Keep a trail of paperwork.
• Make copies.
• Use correct inventory forms.
• Notify Inventory Services of untagged or tagged equipment
not on *DEFINE that meets the threshold.
• Request a new barcode/tag when:
• damaged
• worn
• missing
• will not scan
• If Self-tagging, communicate New Tag info.
Safeguarding Assets
• Be organized.
Keep a record of off-campus
equipment.
• Be observant.
Frequently monitor all current assets.
• Be perceptive.
Keep an eye on equipment awaiting Surplus
pickup.
• Be efficient.
Keep track of assets out for repair.
I have been designated as the contact
for my department
Visit the inventory services web page
Http://www.utexas.edu/business/accounting/in/
To access forms, links to CCART transfers, FRMS departmental web
portal and certification due dates
Additional Resources
Assigning Inventory Object Codes* - New
Capitalized vs. Controlled Object Codes
Depreciation Calculation Template (Excel Format)
Inventory Best Practices* - New
Inventory Contact Guide* - New
List of Controlled Items*
List of Controlled and Capitalized Items*
Self Tagging Template (Excel format)
Before You Begin
• Know your certification due date and gather tools
and materials to meet the deadline.
• Run a current NVP report of departmental
assets. For a step by step guide
http://www.utexas.edu/business/accounting/pubs/nvp_report.pdf
• Review the building/room list from the NVP for
your area
• scanner for those departments with greater
than 100 items (this has to be scheduled)
email scanhelp@austin.utexas.edu to make
arrangements.
To access and print the NVP report
from *DEFINE
Please enter your next command<<
*DEFINE
INVENTORY FUNCTIONS MENU - NVM
Year: 13 14
Command: NVM Inventory Nbr: ________ Misc: _______________ Month: OCT
==========================================================================
1.
2.
3.
4.
5.
6.
7.
COMMAND
NV1
NV3
NV7
NVP
NVR
NVB
NV6
FUNCTION:
DISPLAY BY INVENTORY NUMBER
DISPLAY BY UNIT-CODE
DISPLAY BY SERIAL-NBR
PHYSICAL INVENTORY BY UNIT/LOCATION
INVENTORY DATA WAREHOUSE REPORTS
INVENTORY BALANCES BY UNIT CODE
DISPLAY BY DOC-ID
MISCELLANEOUS
ELEMENT NBR-OPTIONAL
UNIT-CODE
SERIAL-NBR
UNIT CODE
INVENTORY STATUS
UNIT CODE
DOC-ID
SELECT #4 FROM THIS SCREEN
• For step by step guide to running an NVP Report*:
http://www.utexas.edu/business/accounting/pubs/nvp_r
eport.pdf
Printing NVP report:
• Pick up the NVP print
out at the UT Copy
Center located at the
Social Work Building
Room G14.
• It is usually ready in
about an hour.
Why can’t I use the online *DEFINE NVP
report for my certification?
The printed NVP report will contain purchasing, serial # , and percentage stats not
seen from the *DEFINE online command or the FRMS departmental web portal
*DEFINE
PHYSICAL INVENTORY BY UNIT/LOCATION - NVP
Year 13 14
Command: NVP
Inv. Nbr. ______
Misc: 5100000________
Month: OCT
==================================================================
Dept: OFFICE OF ACCOUNTING
Show Items Found: X Not Found: X
View: 1
by Inv Nbr: X Start Inventory Nbr: 846084
by Location: _ Site: __________ Bldg: __________ Flr: __________ Rm: __________
Status InvNbr Elm Site Bldg Floor Room
Description
Item Cost
-------- ------ --- ---- ---- ------ --------- ---------------- --------------_
602351 1 UTM_ 0393 01____ 132______ MICROFILMER/ENDO
6,929.25
_
681726 1 UTM_ 0393 01____ 132______ 1998GMC SAFARI V
20,500.00
_
713273 1 UTM_ 0393 01____ 132______ CAMERA, SONY 505
999.96
_
760724 1 UTM_ 0393 01____ 132______ 2003 CHEVY TRAIL
19,616.00
_
816313 1 UTM_ 0983 02____ 2.302____ DELL LATITUDE E6
1,882.86
_
816315 1 UTM_ 0983 02____ 2.352____ DELL LATITUDE E6
1,882.86
_
823797 1 UTM_ 0393 01____ 132______ EPSON POWERLITE
539.99
_
833977 1 UTM_ 0393 15____ 1510_____ DELL LATITUDE D6
1,538.88
_
843204 1 UTM_ 0561 01____ 110______ DELL AX4-5F (DUA
15,606.61
_
843204 3 UTM_ 0561 01____ 110______ DELL AX4-5F (DUA
4,548.60
_
843226 1 UTM_ 0561 01____ 110______ DELL QUAD CORE X
7,249.90
_
846082 1 UTM_ 0561 01____ 110______ DELL QUAD CORE X
6,275.52
_
846083 1 UTM_ 0561 01____ 110______ DELL QUAD CORE X
7,249.90
_
846084 1 UTM_ 0561 01____ 110______ DELL QUAD CORE X
5,555.9
Understanding the NVP Report printout. Each
report consists of 2 sections:
Found
New fiscal year acquisitions are typically indicated as
“found” when they are added to your inventory.
CIP- construction in progress.
NETL-items found through the (UNET) Network locator
Not Found (need to locate)
Items transferred in
Any prior-year asset acquisitions
Items previously indicated as missing-continue to look for
these items and change the status if the item is found. You do
not need to remark as missing if the asset was not found
during the annual physical inventory process.
Additional Information: 9XXXXX
Numbers
Why are there inventory numbers on my NVP report beginning
with ‘9’ that are not affixed to my equipment?
Because of system limitations, Inventory Services must clear
out the *DEFINE NU1 screen at the end of the fiscal year and
assign virtual numbers for tracking and reporting purposes.
Do I need to find these items?
Yes. Part of the certification requirement is to work with
Inventory Services to get any items with these virtual
numbers converted to university barcode tags that can be
scanned.
Only software, CIP, or artwork can have a virtual number.
Additional Information: 9XXXXX
Numbers-continued
• Notify Inventory Services:
• If you have virtual numbers for equipment other than
software and artwork.
Example: 988889-Dell G4 computer was tagged
778904
• Please include the serial number.
• Self-tagging:
• Tag equipment.
• Send spreadsheet to Inventory Services.
What is New with the NVP equipment
listing?
In addition to purchased, gifted or transferred in equipment
the NVP report will now include fabricated items also known
as CIP (construction in progress)
•
What is fabricated or CIP equipment?
Fabrication is a transitional state; completed items of
fabricated equipment are recorded as capital equipment in
the university's asset DEFINE system. Until that
completion can be determined they are CIP.
•
How do I account for these on my NVP? Do I need to find
these items?
No these items should already be indicated
as ‘found’.
Characteristics of Fabricated Equipment
• one-of-a-kind items
• meet unique research specifications
• created by assembling a number of components
(manufactured or custom made)
• built or assembled from individual parts or materials
• built by or under the direction of university personnel
Most fabrications are:
• sponsor-funded
• have a number of compliance requirements related to
acquisition and tracking
• individual pieces of equipment in an assembled
fabrication.
How will I know CIP items from other items
on my NVP Report?
Inv #: 928064
Elem#: 1_____ OrigFY: 2010 LatestFY: 2011 Screen: 1 of 6
Active SW: X
Amount:
194,936.31
Description: FABRICATION CHARGES WORK IN PROGRESS FY1011______________
-------------------------------------------------------------------------Owner Code: F Purchase code: F > Federal Title - Held in Trust
Unit Code: 5100000 OFFICE OF ACCOUNTING
Class Code: 090
Object Code: 1832
Acquisition Code/Date: 01 09/01/10
Source: CST
Useful Life:
Accum Depr:
194,936.31
Depr Expense:
194,936.31
Depr Value:
0.00
Loc Comp: 0 Site PRC_ Bldg 0190
Flr 01____ Rm A001______
Loc Notes: ____________________________________________________________
Missing or Stolen Code/Date: _
Found: Y 11/15/11
--------------------------------------------------------------------------Inventory comments:
More Inventory Comments: +
Fabrication addition______________________________________________________
The Inventory Federal team will be following
up to see whether the construction has been
completed or is still in progress.
For any questions, please contact Federal Inventory at
InvFed@austin.utexas,edu
The end product’s value is the sum of:
• All services purchased and used in the fabrication process
Example: Welding, machine shop time
• All items purchased and used in the fabrication process
must become a permanent part of the end product’s value
Unless:
• destroyed during testing
• consumed in fabrication.
Upon completion, a fabricated equipment must have:
• an aggregate cost of $5,000 or more
• a useful life greater than one year.
Step 1: Locate
Use the NVP report to locate assets identified as
Not Found (need to locate)
If you can’t find an asset, look everywhere:
•
•
•
•
•
•
•
offices/classrooms
labs
closets/storage areas
previous documentation/files
check off campus forms or logs
check Request for Removal of Equipment forms
ask or email coworkers to assist with
locating
Step 1: Scan
When scanning barcodes during the inventory process, all
equipment within any one room should be scanned. This will
provide an update of the location to the actual equipment
owners if another department owns it.
• Scanning an item will not change ownership.
• It will simply create a transaction line on NV1 Screen 3
for the inventory item showing the date and logon ID of
the person who scanned the item.
Step 2: Scan Continued
While scanning, if an item is:
• Found
• Continue scanning until you finish or have reached
approximately 200 items.
• Arrange to bring the scanner in to upload data.
• Repeat this process until all scanning is done.
• Not found—Notate this on the NVP report to further
investigate or run a new NVP after downloading
scanned results to see what still needs to be found.
Step 3: Reconcile
• Scanning takes care of most updates. Make notes on the
NVP report printout of updates you need to make in
*DEFINE or FRMS Departmental Inventory Portal
• Use either NVP or NV1 to make updates.
• NVP sorts by unit code
• NV1 sorts by inventory number (more options)
• FRMS Departmental Inventory Portal
-new option
• No item’s status should be left blank.
Step 3: Reconcile continued
• Certifications will not be considered
complete until all blanks are finalized
with either “Found” or “Missing.”
• If an item is listed on your NVP but is no
longer in your possession and has been
cannibalized, traded-in or has left UT
submit the IRR request for removal as
soon as possible.
• Track your items year round and not just
during the certification process.
How do I keep track of off-campus
inventory items?
For items kept off campus, use the Respon EID
field on the NV1 screen (2 ) in *DEFINE to list
the item's custodian. Also include the off-campus
location in the Loc Notes field. These fields can
also be updated using the inventory web portal
NOTE: at the departmental level, sign-out logs
are required to be kept. You may use
the Equipment Located off Campus form if your
department does not have an existing method for
logging equipment.
Off-Campus Equipment
• Schedule a day for all off-campus equipment to
be returned for scanning.
• Notify all staff who have equipment removed from
campus to return those specific items on the
scheduled date for inventory scanning.
• Get photo verification for any equipment
that cannot be brought in for scanning
Updating in *DEFINE command NV1
The following fields
may be updated by the department:
• serial number and item Respon EID:
(screen 2)
• Site
• building locations
• floor
• room numbers
• equipment status—found or
missing
Please note -The location, status and responsible
EID of an item can also be updated via the inventory
web portal. Always keep the location current!
Are You Really Missing an Item?
Remember, every item counts.
Before you mark that item as missing in *DEFINE NV1 or
Inventory web portal:
•
Make sure item is not being kept off campus, being
repaired, or overlooked in the initial scan.
•
Check your department records and databases for
possible transfers, cannibalizations, disposals, etc.
•
If item is a computer or laptop check with your IT/LAN
staff
Are You Really Missing an Item?
•
If the item you cannot find is a vehicle, please file a
police report with UTPD. They have been successful in
locating missing vehicles that have been abandoned or
were impounded. Fleet Management requires that the
police be notified when a vehicle cannot be located.
•
Check *DEFINE screen 3 to see who last found the
item.
If you can’t locate the item, mark it as “missing,” but
continue to look for it the next time you perform your
physical inventory.
How and when would I look up a Login
ID?
See *DPUSER instructions
http://www.utexas.edu/business/accounting/pubs/txmail.pdf
Example of when looking up a login might be useful:
• Screen 3 shows that a printer was last scanned by INCPJ in
September 2012.
• You cannot find this printer, so you want to know who INCPJ
is to follow up with him/her regarding this piece of
equipment.
• If you follow the *DPUSER instructions, you should be able
to get the following information:
_ JACOBSON,CECILIA
INCPJ
INVENTORY
471-8699
Looking up a Login ID continued
The item is in my unit code what
choices do I have?
• If you want the equipment back, you can retrieve
the item.
• Transfer ownership and tracking responsibilities
by doing a CCART transfer.
Where on NV1 would I show an item as
missing?
Inv #: A03917 Elem#: 1_____ OrigFY: 1988 LatestFY: 2010 Screen: 1 of 6
| Previous Inv Nbr: A03917 Active SW: X
Amount:
7,350.25
| Description: EQUIPMENT STAGE DRAPERIES__________________________________
| ---------------------------------------------------------------------------------------------------------------------------| Owner Code: U Purchase code: U
| Unit Code: 5100000 OFFICE OF ACCOUNTING
| Class Code: 132
Object Code: 1830
| Acquisition Code/Date: 03 01/12/89
Source: PRE
| Useful Life: 84
Accum Depr:
7,350.25
| Depr Expense:
7,350.25
Depr Value:
0.00
| Loc Comp: 0 Site UTM_ Bldg 0297
Flr 01____ Rm 110_______
| Loc Notes: __________________________________________________________________
| Missing or Stolen Code/Date: _
Found: _
| ------------------------------------------------------------------------------------------------------------------------| Inventory comments:
More Inventory Comments: +
| Transferred from AQ-INVENTORY 08/24/96_____________________________________
| Transaction comments:
More Transaction Comments:
| ____________________________________________________________________
You would mark the item by entering an ‘M’ for missing In
*DEFINE. Or by selecting the missing status on the inventory
web portal
View Percentage of Unfound Items
Unfound percentage includes items indicated as missing or
left blank. Your NVP report has a percentage figure at the
end of the listing.
1. To view your unit’s unfound percentages without running
a report, go to *INPERC from the COMPASS screen.
2. Press ENTER and another screen will appear.
3. Type the first four digits of your unit code, and press
ENTER.
View Percentage of Unfound Items
Comp Unit
---- ------0
5100
0
5100000
Unfound %
----------99.49 %
99.49 %
Unfound Depr Amt
---------------150,147.27
150,147.27
Total Depr Amt
-------------150,906.50
150,906.50
As of Date/Time
--------------12/08/03 00:48
12/08/03 00:48
You should not have at or above two percent unfound. If you
do, there could be a penalty assessed.
The penalty would be assessed on the depreciated amount of
any missing or stolen items with a disposal of 17, 18, 20 or
21.
Certification of Departmental
Annual Physical Inventory
• Once you have completed all equipment
scanning, manual updates , and you have done
due diligence to find all missing assets you are
ready to certify.
• The certification form certifies that:
• all items have been inventoried regardless of
depreciated value.
• all items are accounted for within your
department and their status has been updated
in *DEFINE or via the Inventory web portal.
• all removal paperwork has been
submitted.
Step 4: Report
• Download Certification Form from the Inventory
Services website.
• The Certification Form must be completed and
signed by:
• department chair or equivalent
• department inventory contact
• A current and complete NVP report must be
included with the certification form
• Turn in your inventory certification before or
by the designated due date
Relinquishing Inventory
(Inventory Request for Removal)
• Transfer or Removal
• Type of Removals
• Three–Step process
for removing
Before you discard an item please
note!
Not everything requires a barcode tag; however,
everything is an asset and is considered state
property, even if it is not in *DEFINE or if it has a
zero depreciated value.
Items should never be trashed! Send all obsolete
items to Surplus 4500-999.
For equipment designated as federal or private,
contact the Federal Inventory team at
InvFed@austin.utexas.edu.
Is it a Transfer or Removal?
Will ownership of the property remain
with the university?
Yes
• Use a CCART.
• This includes “donations”
to other departments
within UT
• Transfers to Surplus.
No
• Submit an inventory
removal request to
Inventory Services.
• Do this before the item
leaves the university.
CCART transfer to Surplus Property Unit (4500-999)
• When property exceeds its life expectancy and/or is no
longer needed, send to Surplus.
• CCART creates an NT1 Electronic Transfer doc.
• Be sure to remove insurance. For questions, please
contact Risk Management at 471-3723 or e-mail
oa.riskmgt@austin.utexas.edu.
• Erase all sensitive data from hard drives.
• Keep a list of outstanding NT1 document IDs until the
transfer has been processed. Checking the routing.
When should an IRR (inventory request for
removal) form be used?
IRR Removals do not
include:
• transfers to
surplus.
• transfers to other
departments.
• “missing” items.
IRR Removals do
include:
• cannibalization
• PI transfer
• stolen
• donations
• trade-in
• sale
• other
Type of Removal: Cannibalization
Are parts left over?
YES
• Remove the parts needed
• Send the excess to
Surplus via CCART
NO
• Dismantle the equipment
• Submit barcode tag with
the IRR form
Type of Removal: PI Transfer
Definition: Principle Investigator (PI) leaves the university
and takes research equipment with him/her.
•
Usually involves 26-accounts.
•
60 Days before the PI leaves, submit the IRR and letter of justification.
•
A PI is never allowed to take equipment without prior approval from the
property manager.
Type of Removal: Transfers to NonState of TEXAS Agency
•
•
submit the IRR and letter of justification for equipment going to out of
state.
Transfers to other State of Texas Agencies entities will require an
Outgoing Transfer form or the Incoming Transfer form
Type of Removal: Stolen
•
File police report immediately.
•
Send completed IRR form to Inventory as soon as the police report has
been obtained and should not exceed 48 hours after the incident
Prepare letter of justification. Within the letter of justification, must note if
the item stolen was or was not due to employee negligence. Also, if the
item stolen is a computer or laptop, please answer these 2
questions in the letter of justification:
1. Did the computer contain any Category I data?
2. Was the computer encrypted?
•
In addition, if item stolen is a computer or laptop, it must be reported on the
Information Security Office (ISO) Stolen Equipment Report form located here:
https://security.utexas.edu/violation/iso_theft_form/
Type of Removal: Donation-outside of Surplus
Must be made to a qualifying agencies:
• In-state require certificate of eligibility from the Texas
Facilities Commission.
• Out-of-state:
• Similar documentation must be provided.
• Only nontechnology items are allowed.
• Technology Equipment
• State law mandates priority be made to.
• school districts
• Texas correctional institutions
• Hard drives must be cleaned.
• Verification of hard drive clean must accompany the
IRR form.
Type of Removal: Sale
• Should go through Surplus
• Unless there are extenuating circumstances.
• Departments can request that proceeds from the sale
be deposited into their account.
• Sales outside of Surplus
• Submit an IRR and letter of justification.
• Approvals must be granted before the sale is
conducted.
• Include an agreement of sale, if available. Copy of
receipt of funds, such as copy of check, and document
ID# of deposit into departmental account in *DEFINE.
Type of Removal: Other
• Returned to vendor
• Damaged items or items returned to vendor
for some other reason.
• Trade-ins
• Returned to the agency sponsoring a project
• grants
• military
• contracts
• Anything that doesn’t fit previously covered
• Submit as much documentation as possible
What is new about equipment tradedin?
All equipment being traded-in will now require an
IRR Request for removal form even if the trade–in was
annotated on the Purchase Order of new item.
Include the following for the item being traded in:
• inventory number
• serial number
• trade-in value or
summary
• Include copy of the P.O. of the new item.
Note:-the trade in value will be added as an
element to the new item in *DEFINE
How will I see the trade-in value?
Inv #: 845820
Elem#: 17____ OrigFY: 2010 LatestFY: 2011 Screen: 1 of 6
Active SW: X
Amount:
35,000.00
Description: MASS SPECTROMETER_______________________________
-------------------------------------------------------------------------Owner Code: U Purchase code: U
Unit Code: 5100000 OFFICE OF ACCOUNTING
Class Code: 538
Object Code: 1830
Acquisition Code/Date: 03 02/28/11
Source: TIN
Useful Life: 120
Accum Depr:
2,625.00
Depr Expense:
2,625.00
Depr Value:
32,375.00
Loc Comp: 0 Site UTM_ Bldg 0740
Flr 04____ Rm 4.102_____
Loc Notes: ___________________________________________________
Missing or Stolen Code/Date: _
Found: _
--------------------------------------------------------------------------Inventory comments:
More Inventory Comments: +
TRADE IN AMOUNT_____________________________________________
Step One: Removal must be
Approved
• Before disposing of university property, approval
must be granted by the property manager via
Inventory Services.
Gather the information to Submit the IRR
form that begins the Approval process
• Submit the inventory removal form and all
necessary documentation to Inventory Services.
The form is available at
http://www.utexas.edu/business/accounting/for
ms/inv-remove.pdf
Step 2: Submit Inventory Removal
Request Form
1. Department name and unit code:
2. Equipment to be removed:
Inventory #
Description
Purch. Date
Cost
Depr. Value
3. Reason why removal is requested:
(see instructions on page 2 for further details)
[ ] Stolen
[ ] Cannibalization
[ ] Donation
[ ] Sale/Sealed Bid/Auction
[ ] P.I. Transfer
[ ] Trade-In
[ ] Other: Please explain
4. Department Signatures:
Approval Signatures:
______________________________
_______________________
Department Administrator/Head
Inventory Supervisor
______________________________
_______________________
Department Inventory Contact
Property Manager
* Please attach any supporting documentation and a letter of justification. When
completed send this form and the supporting materials to Inventory, Office of
Accounting, at campus mail code K5300.
Step Three: Removal from
*DEFINE
Inventory Services will remove items from
*DEFINE after:
• documentation has been submitted.
• sales receipts have been received.
• the property manager has approved.
Note: Submit receipts to have the item
removed from your inventory list within 30
days.
Inventory Services
University of Texas at Austin
Main 132
K5300
Phone: 512-471-3838
Fax: 512-471-1651
Assistance hours: 10 a.m.-noon & 2-4 p.m.
oa.inventory@austin.utexas.edu
InvFed@austin.utexas.edu
scanhelp@austin.utexas.edu
http://www.utexas.edu/business/accounting/in/