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FSS/PPS 05.06 - Electronic Verification of Equipment

Electronic Verification of Equipment

FSS/PPS No. 05.06 (05.01.09)
Issue No. 4
Effective Date: 3/05/2018
Next Review Date: 2/01/2022 (E4Y)
Sr. Reviewer: Director of Materials Management and Logistics

  1. POLICY STATEMENTS

    1. This document establishes the policies and procedures for the Materials Management and Logistics (MML) department reviews of equipment inventory in university departments.

    2. The director of MML (and his or her alternate) have delegated authority from the Texas State University president in accordance with Texas Government Code, section 403.2715 (c ) to serve as the agency’s (university) property manager. As such, the director of MML may promulgate and implement policies and procedures to document and safeguard university equipment.

    3. Electronic verification of equipment (E.V.E.) will be performed for all equipment owned by the university, without regard to the source of funds from which the equipment was purchased and equipment for which the university has fiduciary responsibility, including but not limited to, equipment on loan or held in trust for others.

  2. DEFINITIONS

    1. Equipment – capital assets (costing more than $5,000) as defined by the State Comptroller’s Office in the SPA Process Users Guide Chapter 1- Introduction to Capital assets. Controlled assets (such as electronic and computer equipment) are defined by the State Comptroller’s Office in the SPA Process Users Guide Appendix A – Class Codes.

    2. Equipment Reviews – process by which the university’s financial asset records for equipment assigned to departmental accounts are compared and updated with the physical location and condition of the items.

    3. E.V.E. – announced equipment reviews where MML staff use electronic equipment and inventory best practice methods to locate university-tagged equipment assigned to departmental accounts.

  3. PROCEDURES

    1. Inventory Listing and Sample

      1. The Property Management supervisor and accountant will run a detailed inventory listing from the Radiant RFID Variable Asset Tracking database. The Property Management accountant reviews the listings by building or department accounts and makes suggestions to the Property Management supervisor.

      2. The Property Management supervisor and accountant will review the inventory listings and identify which departments and buildings will be included in the monthly E.V.E. review. The Property Management supervisor should consult with the director of MML if there are questions or issues related to that month’s departmental E.V.E.

    2. Conducting Physical Inventory

      1. Under the direction and supervision of the Property Management supervisor, Property Management personnel and seasonal workers will conduct the E.V.E. for the university.

      2. As part of the process, the condition of the equipment is also checked and concerns are noted (e.g., if there is obvious damage or abnormal change conditions).

      3. Property Management personnel submit written documentation, via email, of the results from the departmental electronic equipment reviews to the account manager and the director of MML at the end of each E.V.E. review.

      4. If there is a problem locating or identifying a piece of equipment, Property Management personnel will work with department personnel until it is resolved. The department must submit written documentation to the Property Management Office for transfers and stolen (or missing) equipment. The Property Management Office will assure that adequate documentation is provided by account managers or department heads for any items that are not located.

      5. The Property Management supervisor or the director of MML verifies that all inventories are correct and satisfactory. They will report all unresolved problems, in accordance with UPPS No. 05.01.01, Texas State University Property and Equipment, Section 04.02 a., to the vice president for Finance and Support Services and other Texas State officials, as necessary.

    3. Reporting

      1. The director of MML submits a statistical report to the associate vice president for Financial Services no more than 30 days after the end of each quarter for E.V.E. reviews conducted during that calendar year.

      2. The Property Management Office will maintain the E.V.E. inventory documentation on file. These documents verify when an inventory was completed and are used for audit purposes.

  4. REVIEWERS OF THIS PPS

    1. Reviewers of this PPS include the following:

      Position Date
      Director, Materials Management and Logistics February 1 E4Y
      Supervisor, Property Management February 1 E4Y
  5. CERTIFICATION STATEMENT

    This PPS has been approved by the following individuals in their official capacities and represents Texas State Finance and Support Services policy and procedure from the date of this document until superseded.

    Director, Materials Management and Logistics; senior reviewer of this PPS

    Associate Vice President for Financial Services

    Vice President for Finance and Support Services