Physical Inventory

 

The following procedure shall be adhered to when the Asset Management Office is conducting the Physical Inventory:

1. Physical Inventory of Campus Equipment:
   1. A complete Physical Inventory of all CSU, Fullerton capitalized and non-capitalized equipment must be performed at least once every three (3) years
   2. Capitalized Federally Funded Equipment, with a per unit fair market value of $5,000 or greater, requires a two (2) year cycle physical inventory per Sponsored Programs Administration ICSUAM 11005.00 Externally Funded Equipment and CSU, Fullerton Asset Management Policy
2. All Physical Inventories must be done by the Asset Management Office along with the custodial department’s Department Asset Record Keeper. The Asset Management Office will contact the Department Asset Record Keeper to coordinate the upcoming Physical Inventory. The Asset Management Office will also forward the list of equipment that will be inventoried prior to the Physical Inventory appointment via an excel spreadsheet in order for the department to be prepared for the Physical Inventory.
3. Upon completion of the Physical Inventory a signed “Physical Inventory Confirmation Certificate” must be submitted to the Asset Management Office. This certificate must be signed by the responsible Appropriate Administrator and the Department Asset Record Keeper. Any discrepancies in the Physical Inventory will be discussed and explained by the custodial department and the Asset Management Office.
4. Preventing Duplicate Inventories:
   1. In order to prevent duplicate inventories, each individual asset inventories must be recorded in DropBox, under the file name "INV_COMPLETED_LIST" along with the date of inventory, Property Clerk name, and DARK name. As new inventory appointments aride, please refer to this list prior to scheduling.
5. Asset Condition:
   1. The condition (working order and apprearance) of each asset inventoried must be verified and recorded. Inventory Confirmation sheets will contain the options "Good/Fair/Poor", and will be checked appropriately. A photo should be taken of each asset inventoried, and recorded with Department files.
6. If there are any questions regarding the Physical Inventory or the Physical Inventory Confirmation Certificate please contact the Asset Management Office:
   1. Asset Management Office:
      
      • Erick Perez, Property Clerk
        (657) 278-7748 Email: erperez@fullerton.edu
      • Richard Arakawa, Property Clerk
        (657) 278-5384 Email: rarakawa@fullerton.edu