Property Management Policy & Procedure Manual
Section 1100: Supplies Inventories
All non-capital or minor equipment must be subject to internal control measures that are sufficient to provide reasonable assurance that such property will not be lost or stolen. Departments must ensure that appropriate measures are taken to protect all OSU supplies and minor equipment against loss or theft.
Historically, departments were required to maintain an itemized list of non-capital equipment valued from $500 to the capital threshold ($5,000). Departments are strongly encouraged to continue this practice to verify that equipment is properly secured and accounted for.
Minor Equipment Security
- Review applicable policies within the Property Management Manual.
- Make sure that equipment is cabled down or maintained in locked rooms or file cabinets.
- Place appropriate tags on equipment. ‘Property of OSU’ tags are available from Fixed Assets Property Management within Business Affairs. STOP tags are available through the STOP (Security Tracking of Office Property) website.
- Maintain loan agreements (see PRO 701-01 Equipment Loaned - To Employees) or sign-out sheets for equipment used off-campus.
- Remind faculty and staff of their responsibilities regarding University property. See PRO 101 Responsibilities.
- Conduct an itemized count of storeroom (required at Fiscal Year-End).
- Send copy to Financial Accounting & Analysis within Business Affairs as indicated by the Year-End instructions.
|FA&A, Business Affairs
- Maintain record copy of itemized report.