INVENTORY CONTROL POLICIES AND PROCEDURES
6. Inventory Records
6.1 Procedures for Purchase Orders
and Inventory
After a purchase order for equipment has been issued, a
property inventory file of equipment purchase orders will be initiated to (1)
maintain a record of activity until completion of the order (equipment received
and accepted) and (2) serve as the beginning of a permanent inventory asset
record. The following items will be included in the permanent inventory asset
record:
6.1.1 Fund code, organization code and account code
(FOAP) from which payment for asset is made
6.1.2 Administrative unit responsible for asset
6.1.3 TTU property tag number (asset #) assigned
6.1.4 Description of asset (e.g. automobile, microscope,
projector, etc.)
6.1.5 Manufacturer name
6.1.6 Serial number (if applicable)
6.1.7 Model number (if applicable, some "build
to specs" equipment items do not have a model number)
6.1.8 Vendor's name and address
6.1.9 Purchase order number and date (month and
year)
6.1.10 Date of arrival
6.1.11 Cost of asset (includes freight and
installation charges, if applicable)
6.1.12 Classification code (See
Exhibit IC-2).
6.1.13 Permanent Location (Building
and room number where the item is located.)
6.2 Inventory Listings
All equipment acquired by an administrative unit since
the last inventory listing will appear at the end of the next listing.
This information is
maintained by Business & Fiscal Affairs
Last Updated: 20-MAR-2008
For more information, contact Business Services
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