decorative-icon Maintaining Property - Inventory

Inventory Review

Business Affairs (BA) Property Control performs biennial physical inventories of all equipment. This is a Federal requirement that maintains compliance with UO, Federal, State, and sponsor requirements.

Physical inventories are performed by Property Control through collaboartion with UO departmental staff. Departments are sent a preinventory list to assit in the location of equipment before the scheduled inventory time.

These inventories help to ensure that the Banner records are up-to-date and accurate, and that obsolete/damaged items are removed from inventory properly. In addition, accurate locations and conditions are important factors in determining insuance coverage and Facilities and Administrative Costs reimbursement.