Units are required to maintain a clear record of assets assigned to employees, regardless of work location.
Assets with a cost of $5,000 or more and assets designated as “small and attractive” (e.g., laptops, notebooks, and tablets) must be inventoried and tracked. Tracking items such as monitors, printers, and desk chairs is not required per policy. However, if such items are checked out to employees, units should determine which items to track, to whom assigned, and note physical locations of items with clear expectation for asset return upon employee separation or when no longer needed.
Employees with inventory tracking responsibilities must ensure departmental records are kept updated with the physical location of each asset. Refer to BPPM 20.50 Property Inventory for policy and to the following reference guides:
- Edit Asset Request — for updating the description, memo serial #, manufacturer, asset coordinator
- Issue Asset — for issuing to a new worker/location
- Transfer Asset — for transferring the asset to a new worker/location
Tracking and safeguarding assets that hold university data is especially important. Loss of university data can result in fines, loss of funding, loss of donations, and overall loss of public trust.
At the end of their useful life, dispose of assets in accordance with university policy BPPM 20.76 Surplus Property as well as the Dispose Asset reference guide.
Questions? Contact Property Inventory or the Office of Internal Audit.
