- Maintaining Accurate Records
- Equipment Addition Procedures
- Equipment Deletion Procedures
- Equipment Transfer Procedures
- Annual Inventory
- Taking Equipment Home
NDSU prohibits the personal use of university property.
Capital Equipment: personal property items costing more than $5,000. This cost includes freight and installation. Items donated to a university department and valued at more that $5,000, must also be accounted for as capital equipment.
All department owned items meeting this definition should be on the university's fixed asset record.
Departments are responsible for providing the NDSU Accounting Office with timely and accurate information to keep the Oracle/PeopleSoft Finance system up-to-date.
NDSU’s Accounting Office centrally maintains these records on the Oracle/PeopleSoft Finance system. Departments should maintain a file of the inventory document forms pertaining to each equipment item assigned to their department number.
All department owned items meeting the above definition should be on the university’s fixed asset record.
Departments are responsible for providing the NDSU Accounting Office with timely and accurate information to keep the Oracle/PeopleSoft Finance system properly up-to-date.
University departments must complete the following procedures to inventory an item:
- Affix an NDSU inventory tag to the item. Tags are available from the Accounting Office.
- Fill out the necessary information on an inventory document. Instructions are available from the Accounting Office. Attach the inventory document to the Receiving Report (Accounts Payable Voucher or Interdepartmental Billing form, if applicable) and submit it to the Accounting Office. When the items purchased are enhancements or attachments to equipment that is already inventoried, the inventory number of the existing item should be written on the receiving report (Accounts Payable Voucher or Interdepartmental Billing form, if applicable.
- The inventory document will be returned after it is included on the fixed asset records of the University.
- Equipment purchases from Federal funds valued at more than $5,000, must be tagged with a "Property of North Dakota State University-Federal Funds" identification tag. These tags will be provided by the Accounting Office.
Equipment deletions must be reported to the NDSU Accounting Office as soon as possible. To report a deletion the department must retrieve the inventory document from the department file and complete the bottom portion of the form, indicating the reason for the deletion. The document must be approved by the department head.
Stolen equipment should be reported immediately to the University Police and the Accounting Office. The University Police will complete a stolen property report and a copy should be attached to the inventory document when it is turned into Accounting.
When transferring equipment between departments, the inventory documents need to be forwarded to the department receiving the equipment.
A memo or email needs to be sent to the Accounting Office with the following information:
- item number(s)
- new department and location
To comply with state law, each department is expected to perform an annual inventory of its equipment. The department head will be expected to certify as to correctness of the department’s equipment listing. Detailed inventory instructions are sent out each year by the Accounting Office.
It is important to only have equipment that is useable on the department’s inventory.
It may be appropriate for an employee to take university property to their home for job related reasons. Please refer to university policy for further information. An off-campus agreement form must be filled out and retained in your department.
The item will need to be taken out of inventory. Please refer to Equipment Deletion Procedures above.
For further information, please see the Purchasing Office website.