Inventory

The College maintains a physical inventory of equipment whose cost exceeds $100.  Source of funding is recorded if federal.  Periodic inventories are conducted by persons independent of the Inventory Control Official (Assistant to the President).  Variances are investigated.

Inventory Control Process/Guidelines:

1.  All Capital Equipment purchases are delivered to the Central Receiving dock (Storeroom).

2.  Receiving Clerk notifies the Inventory Control Office, informing the Inventory Coordinator of an equipment delivery.

3.  The Inventory Coordinator will either respond personally or dispatch an Auditor to the Storeroom within 2 hours of notification.

4.  The Coordinator or Auditor will inspect the packing list (s) and/or the package (s) and determine if the item (s) meet the Inventory criteria to be tagged and recorded in the Inventory Database.

5.  A Framingham State College barcode identification asset tag will be affixed to any item that meets the pre-determined Inventory criteria.

6.  Once an item has been tagged and shipped to the ordering Department, said item becomes the permanent property of this department, and they assume total responsibility for its care and well being.

7.  The information included in the database will be used to track individual items and their placement on Campus.

8.  Notification to the Inventory Control Department by a department head or their designee regarding the removal/transfer of any computer related capital asset must be done in writing and signed by an authorized Information Technology Services Department (ITS) employee.  Arrangements will be made by Inventory Control to remove item (s) and ITS will transfer the item (s).

9.  Any non-computer asset to be moved may be expedited by written notification to the Inventory Control Office.  Arrangements will be made by Inventory Control to remove/move item (s).

10.  An annual campus-wide inventory is conducted at the end of the fiscal year.  All found assets will be updated and a listing will be generated to reflect a current and accurate inventory.

11.  Assets to be used off campus for an extended period of time (one semester or longer) will require written approval via an official Property Loan Report form completed and signed by the loaning Department head.

12.  Periodic searches of random items during the year will take place at the discretion of the Inventory Control Coordinator.

13.  All assets that have been deemed surplus/worthless and are no longer of value to the College will be collected, documented, and signed off by a designated disposal team.  This list will be forwarded to the Commonwealth of Massachusetts Department of Procurement and General Services in Boston for disposition.

14.  Upon confirmation of surplus list from OSD, all assets will be deleted from the active inventory and disposed of in accordance with State guidelines.