Policies & Procedures Manual

262

Policy No: 603

Policy Contact: Vice President for Business Operations

Policy Title: INVENTORY CONTROL

All equipment should be safeguarded and properly stored to achieve maximum utilization. Personnel should be trained to properly use and maintain equipment. The Superintendent of the Physical Plant is responsible for receiving acquired equipment and materials. Receipt of equipment and materials must be reported to the clerk in charge of inventory control for tagging and entry on inventory records of items with a purchase cost of $1,000 or greater. Exception items, as defined by the Office of the State Auditor, that are to be included on inventory regardless of cost include:

Weapons



 Cameras and camera equipment (greater than or equal to $250)  Two way radio equipment  Televisions (greater than or equal to $250)  Lawn maintenance equipment  Cellular telephones  Computer and computer equipment (greater than or equal to $250)  Chain saws  Air compressors  Welding machines  Generators  Motorized vehicles

The transfer of equipment must be approved by the Superintendent of the Physical Plant and reported to the inventory clerk. Disposal of any surplus equipment must be reported by the inventory clerk to the accountant in the Business Office. The disposition of surplus equipment and materials shall be in compliance with all policies of the State Department of Audit and the laws of the State of Mississippi. The inventory of equipment will be verified at least annually by the appropriate division chairpersons and/or administrators who will be responsible for locating missing items or completing disposition forms. The accountant is responsible for the financial accuracy of the fixed assets inventory. He/she will ensure that all equipment purchased is properly entered into inventory records and will maintain files to support such records.

(Revised 3/19/13; Reviewed 6/14/16)