Controller's Office

Equipment Inventory Responsibilities

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The equipment inventory process must be a cooperative effort between departmental faculty and staff and the members of the FAEIS equipment inventory team from the Controller’s Office.

Department Responsibilities

  • The Department Head is responsible for assisting the FAEIS staff in coordinating the equipment inventory, ensuring adequate follow up is performed timely so inventories can generally be completed within 60 days and to certify the final results of the physical inventory in accordance with the Fixed Assets Policy 3950.  Departments are expected to find, at a minimum, 95% of their equipment.  These administrative responsibilities are extremely important since this will eventually become part of the annual/periodic evaluation process. 
  • Notify the inventory team which areas require departmental assistance, restricted access, highly sensitive experiments, etc.
  • Ensure departmental personnel are aware we are conducting the inventory and appropriate personnel from your department are available to assist the inventory team accessing equipment as needed.  This is especially important if you have equipment in more than one building.
  • Review the inventory listing prior to our visit.  If you recognize items that have been surplused, traded in, equipment returned to vendors, risk management claims, make copies of surplus forms and/or other documentation and provide to FAEIS during the inventory.
  • Review the inventory list for equipment currently at home.  Either have custodian bring the equipment in for scanning or complete the home certification form prior to the inventory.  Home certifications should be turned in before the completion of the inventory.  We recommend all department personnel complete the form even if no equipment is at home.  An example is on the Controller’s Office web page (www.controller.vt.edu).
  • Inform the FAEIS inventory crew of any new purchases received but not yet tagged, any donations or evaluation equipment not recorded on the equipment listing and any equipment that is personally owned by employees in the department we might find during the process.
  • Whenever practical, have inventory items out where they are easily visible to the inventory team (especially cameras, diamond knives, etc.) or provide departmental assistance to ensure these items are found during the initial inventory visit.
  • The equipment coordinator should accompany the inventory team during the visit, especially when equipment is located in multiple buildings.  If there are separate coordinators for other buildings, notify them we are coming.
  • For equipment located outside Montgomery County, contact personnel at that location and have them certify in writing the equipment is there and in use (Inventory Certification Form).
  • At the conclusion of the physical inventory, continue to work with the Controller’s Office to resolve issues.  Investigate items on the missing list within 30 days and complete the process by certifying the final inventory within 60 days.

Inventory Team Responsibilities

  • Schedule meeting with department head, equipment coordinator and others from department in advance of the inventory to explain process, verify locations and the requirement to complete the inventory and certify the results of the inventory. The results will be reported to senior management and 95% standard is expected.
  • Observe all departmental rules and regulations, especially pertaining to safety of personnel and equipment.  Be polite; introduce yourself prior to entering offices.  If someone is on the phone or in a meeting, don’t enter until told to do so.
  • Carefully walk thru each area looking for inventory tags.  Scan barcodes and verify/correct information. 
  • Cross out older style inventory tags and SCHEV tags; replace with new barcodes if equipment is in inventory.
  • For equipment that appears to meet the capitalization threshold or is a computer but has no tag, review the inventory listing to determine if the item is listed.  Retag, if appropriate.
  • Check off rooms visited on the floor plans.  Note any changes to floor plans (walls removed, new rooms, etc.).
  • Once all locations are visited, collect and process surplus forms, inventory certification forms, documentation for trade-ins, risk management claims and all other paperwork.
  • Send copy of missing equipment list to department within 5 working days.
  • Be available for follow up visits and to assist the department as requested and send reminders to schedule follow-up to department after 2 weeks of sending missing report.   Work with departments to complete all follow up within 30 days.
  • Prepare final results of inventory report for certification by department head and follow up with department head until certified report is received.