Financial Information Services

PHYSICAL INVENTORIES

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Annual Inventories

Physical inventories are performed annually as required under Financial Policy No. 1004.6.

  • The following information is verified or collected for the items that are being inventoried:
    • Asset/tag number
    • Department number
    • Location, building, floor, corridor, and room number
    • Usable/not usable
    • Description

Procedures and instructions for conducting the physical inventory are issued by the Comptroller's Office.

Inventories for Grant/Contracts

The Property Management Section and the Restricted Funds Sections of the Comptroller's Office will instruct the account administrator to perform a physical inventory when required by the award agreement.

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