Property Control

Tagging and Validation of Inventory


 


Tagging

All Assets purchased by the University $5,000 and over  must be tagged with a Asset Barcode number by Property Control and added to the department inventory, and is reported to the State.

If an item is impossible to tag with a bar code, such as software, the barcode or copy will be placed in the departments file and kept at Property Control.

Departments Chairpersons, Administrators and Sponsors of each department is responsible for:

All equipment and property purchased or constructed for and assigned to the department.

Verifying and correcting all information contained on new equipment and property.

Reporting any transfer or loss of inventoried equipment and property to Property Control.




Procedures for Placing Bar Codes (Tags) on Equipment

Placing Bar Codes (Tags) on equipment and University Property is a procedure for tracking assets.

Asset Management receives information on purchases from purchases orders, Pcards or vouchers on the PeopleSoft system. An asset identification number is then assigned to each item over $5,000. Information is obtained from the PeopleSoft system to Property Control in which then Property Control will contact departments, schedule day and time to place bar codes on equipment or property. The bar codes will be placed visibly on equipment with reasonable access during validation.

If an item is impossible to tag with a bar code, such as software, the barcode and or copy will be retained in Property Control files.

Departments Chairpersons, Administrators or Sponsors of each department is responsible for:

  1. All equipment and property purchased or constructed for and assigned to the department.
  2. Verifying and correcting all information contained on new equipment and property along with reporting any transfer or loss of inventoried equipment and property to Property Control using the Change in Status form. This form is located in forms section of the Property Control web site.




Validation of Inventory
Validation of Inventory is held Annually by Property Control and consist of assets $5,000 and over  being physically identified by Property Control staff. All $5,000 Assets found, missing, or stolen on the department’s inventory are reported to the State.


Validation Notification Email
A Email is sent to the Account Sponsor, Chair, Dean and Point of Contact of the department notifying them of the upcoming Validation of Inventory.


Result Notification Email
This Email will be sent after validation of inventory has been completed by Property Control listing number assets found, retired, lost, stolen and not found. A copy of this result letter will also be sent to Internal Auditing.



State Agency Transfers

A letter will need to be presented to Property Control from the Financial Director (or any higher    position) listing the items requested and stating where they will be used at the State, Federal or Public institution.

      The letter needs to include the requesting party’s State Agency number.
      Email address for Property Control to respond to.
      The request has to be on Business Letter  head.
      Property Control evaluates the items being requested.
      Property Control responds to all request ASAP.
      Property Control contacts the party requesting items from Surplus.
      Arrangements are then made to schedule a time to pick up the items.
      Eligible parties are located on the website listed below.

http://www.ok.gov/genthree/agency.php



Reporting Changes Previously Inventoried Items

A Change in Status Form is to be faxed (405)364-1961 to Property Control when equipment or property has been:

Lost
Stolen
Cannibalized
Destroyed
Other (trade-in, etc.)
Found (after previously reported lost or stolen)
Transferred to a department off Campus
Transferred to another department on Campus
Relocated to another building or room