Purchasing
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Purchasing 33.00

Personal Property Inventory

The University is required to maintain a current inventory of its physical properties and equipment and to make appropriate additions and deletions to the inventory records as property is acquired and disposed of.

All non-expendable equipment with a cost of $1,000.00 or more must be tagged with a property number and listed on the University inventory records. Each department has assigned an inventory control coordinator to work with the Inventory Control Department. It is the coordinator's responsibility to report any changes which occur in the department's inventory. Each department must access and verify their Annual Capital Assets (assets costing $5,000 or more) inventory and forward it to Inventory Control by December 15th. Changes to inventory records may be submitted at any time to Inventory Control.

When new equipment is received in Central Receiving, it is tagged and recorded there prior to delivery to the department. If equipment with a cost in excess of $1,000.00 is delivered directly to the department, Inventory Control must be notified by completing the Received Equipment Form.  Properly recorded equipment can be very beneficial to the department since it provides a record of cost, serial numbers, and proof of ownership if the equipment is stolen or damaged. Departments may access their inventory at any time under RDS Financial Reports.

Inventory Control is also responsible for surplus equipment. If departments have property which no longer has a use to them, they should complete the appropriate form (TRANUND for property with a cost of under $1,000; TRANOVER for property with a cost of $1,000 & over). The property will be picked up by Physical Plant at no charge and classified as surplus. The department inventory will be adjusted upon completion when a barcode number is listed on the TRANOVER form.

Surplus computer equipment must have the Computing Device Surplus Certification (CDSC) label affixed to each computer.  The CDSC label requires verification that all data and software has been removed in accordance with University policy:  "Inventory, Tracking, Discarding, and Redeployment of Computing Devices or Media," http://security.louisville.edu/PolStds.  Please note: Inventory Control will not accept the computing devices without the CDSC label affixed to the device.

All surplus items may be inspected and reserved for departmental use; all reserved items must be removed within two weeks. The surplus warehouse is open on Wednesdays for departments to visit and claim equipment. The warehouse is located at 1901 S. Floyd Street on the Belknap Campus. There is no charge if the departmental representative removes and takes the item to their department. However, if the department wants reserved surplus to be delivered by Physical Plant, the department must complete the Physical Plant Chargeable Work Request Form.  The department must list the reserved items to be picked up including the designated building and room for delivery. This is a chargeable service to the department.

Periodically a surplus sale is held to dispose of surplus equipment. Prior to this sale all departments are notified and given an opportunity to request anything their department can utilize. Thereafter, the surplus warehouse will be closed for auction preparation. All surplus property will be sold at public auction or by sealed bid. University employees and the general public are eligible to participate in such sales.

All University agency-owned acquisitions are tagged and processed by Inventory Control. Inventory Control must also be contacted to trade or dispose of agency-owned vehicles.

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