Inventory Control is responsible for tagging and conducting an annual inventory of over 19,000 pieces of capital equipment on six campuses and various other locations. This is the University’s single largest asset with a value net of depreciation of $153 million at June 30, 2014. Accurate records regarding the location if equipment is vital for Cost Recovery calculations, with regards to accountability with the State of Connecticut Property Control Manual, and for proper valuation on the financial statements.
Because taggable equipment is also generally easily moveable, it is special challenge to complete this task. We are always seeking departmental participation to follow our procedures and review the lists we send to you.
This area of the Accounting Office is also responsible for the capitalization and tracking of all other fixed assets including land, buildings, nonstructural or infrastructure and construction-in-progress.
We will be increasingly utilizing this website to make contact with the University community in this regard. So please visit us often.
|Inventory Control / Capitalization Staff
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