Part III - UNM Finance: Practical Applications

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Standard Accounting Resource Manual (SARM)

MSC 0000 00
1 University of New Mexico
Albuquerque, NM 87131

Inventory Control and Reporting

The office of Inventory Control is responsible for overseeing the disposition of all inventoried property (equipment and moveable computers) assigned to University departments.  The office of Inventory Control sends property tags to departments for each piece of assigned inventoried property; departments must then ensure that the property tags are placed on all inventoried property and the location information is returned to Inventory  Control.  Departments are also required to complete an accurate annual physical inventory of their equipment and computers and return those inventories to the office of Inventory Control in a timely manner.  In addition, throughout the year it is the responsibility of departments to make any necessary adjustments to their inventory, which may include disposing of old, obsolete equipment through Surplus Property.  Departments are also responsible for maintaining accurate records on all non-inventoried property, i.e. all property not overseen by the office of Inventory Control. Questions regarding inventory, tagging processes, account codes, disposals, ownership titles, equipment checkouts,transers, donations, etc. should be directed to the office of Inventory Control.