Property Control > Fixed Asset / Physical Inventories
Fixed Asset / Physical Inventories
This is the Fixed Asset area of Property Control which deals with equipment having a threshold of $5,000 and above. These pieces of equipment are inspected biennially. All equipment purchased with the proper budget category and with the correct cost threshold is issued an asset number. These numbers represent a tracking system for Property Control, as well as a tracking system for the various auditors when reviewing our equipment inventory for the campus. All assets issued can be tracked through the RAM System.
Inventories are created from the purchase made and are recorded to a parent account for each department. Many departments have more than one account available for purchases. We will use the "main" account for your equipment inventory. We have found it easier to track these items through one general account rather than several. The exceptions for that rule are Stony Brook University Hospital as well as the Long Island Veterans Home. These are recorded by account of payment.
Locations and destinations of equipment are essential pieces of documentation. To better serve the campus community we need your assistance with properly documenting the physical location.