Obsolete, Damaged or Unusable Equipment in your core?

Memo from Asset Management:

During the fiscal year-end review of the University’s financial statements, State Auditors recommend annual review of our equipment inventories to determine if inventory values are overstated because our records include obsolete or damaged items.  

Obsolete or damaged equipment items can be retained for parts but need to be removed from your equipment inventory.   Submit the Capital Equipment Relocation form (603.5) to Asset Management, affixing the equipment bar code decals to the form, and describe the item as “scrapped for parts.”   Send form ES102 with the decals to Karen Gaster, CB1070.  Form 603.5 is available at the following link:

http://financepolicy.unc.edu/603_5

Items determined to be no longer needed or usable are sent to the Surplus Property Warehouse.   Go to the Surplus Property Management System at http://spms.unc.edu/spmssso/  to create a Surplus Pickup Request.  The Surplus Property Warehouse staff will pick up your items at no charge.  Registration for the Surplus Property Management System is required for departments and system users.  The registration form is at the following link:  http://www.unc.edu/finance/fd/md/am_spmsreg.pdf

Please submit your ES102 forms and your Surplus Pickup Requests by May 31 to ensure that inventory values are properly stated at fiscal year end June 30, 2012.

Contact Janet Rupert at jrupert@email.unc.edu or 962-6267 if you have questions.