University equipment is inventoried on a biannual basis. U-M departments (not including the U-M Health System) are responsible for reporting any changes, including retirement or relocation of equipment, and contact or custodial changes.
Departments must follow U-M’s equipment inventory procedure. This procedural document will help you perform a departmental inventory. Information includes how an inventory is conducted, fields used in the actual inventories, and answers to frequently asked questions.
U-M units have access to the Asset Management Data Warehouse for their reporting needs. Creating ad hoc queries and using the canned queries in business objects are currently the primary ways to gather asset management data.
The U-M Bi-Annual Equipment Inventory Policies and Procedures Manual includes detailed information about the university’s property control program.
This survey tracks U-M owned assets with an original acquisition cost of $5,000 or more. Departments should report any new equipment not yet on their inventory, any equipment no longer in their possession, or changes to the location of equipment/custodian within their department.
Financial Operation’s policy states that equipment will only be retired when it has been sold, transferred to another institution, destroyed or scrapped. As part of the bi-annual inventory process, Property Control requires documentation to support any addition or deletion of equipment.
Employees with regular appointments and students with class requirements can use university equipment at off-campus locations whenever it will benefit U-M’s teaching, research, administration, and patient care.
Complete the authorization section of the Request for Removal and Use of University Equipment Form.