How Inventory is Conducted
A campuswide physical inventory takes place every year to ensure the equipment can be located and is in proper working condition. The actual physical inventory process is conducted for MSU departments on an alternating year basis by CAM. Notification letters will be send to departments. If it is your department's year to conduct a physical inventory, it can be done in one of two ways.
Option 1: Submit your equipment inventory report using the Annual Asset Reporting Template.
Follow the instructions at the top. When finished, save and e-mail the template to firstname.lastname@example.org.
Option 2: CAM has barcode scanners available for use when inventorying equipment. Using scanners reduces the amount of time spent tracking equipment and increases the accuracy of the information being updated. Contact CAM to check out a barcode scanner, scan all of the equipment, and return the scanner. Call 884-6081 for more information or to reserve a scanner.
In addition to the physical inventory
- Sign and return the Annual Equipment Inventory Certification Form PDF.
- Mail the form to CAM, Angell Building, 166 Service Rd., Rm. 102 or e-mail it to email@example.com.
- Make sure to retain a copy of the form for audit purposes.
If there are no changes, write "NO CHANGES" on the top of your signed Certification Form and return it to CAM.
Option 1 is best for departments with few assets, Option 2 is best for departments with many assets.
Per the Manual of Business Procedures, Section 224-VI, asset property tags must be affixed to equipment and the asset tag field (within the asset record) must be updated within 30 days of receipt of the equipment.Equipment cannot be scanned if the tag is not on the equipment and the asset record is updated in KFS. To find out if you have any untagged equipment, run the BI report “Untagged Asset Aging Report-FIN061.”
Follow: Public Folders>Finance Folder>University Finance Reports>CAM - Capital Asset Management.
Asset Records in EBS
Asset records can be updated through the Capital Asset Management section (CAMs) within EBS - Finance. You must be assigned Role 6 – CAM Processor to edit or update asset records.
Role 6 Information and PDF ARM form
Non-functioning, unused, or cannibalized equipment
Do you have equipment that has been stripped of parts, not working, or not being used? Transfer those assets to the MSU Surplus Store for redeployment or proper disposal.
How to transfer an asset to MSU Surplus
Manual of Business Procedures – Section 224
Specific policies regarding capital equipment are detailed in MBP 224.