Finance and Administration Policies (FIN)

Equipment Inventory Policy

Policy Purpose

To provide direction to College departments on the procedures for safeguarding the College's assets and for identifying equipment acquired including fixed assets, sensitive equipment and grant equipment.

Policy Statement

  1. Chapter 1, Section 2, Item 9 of the Nevada System of Higher Education (NSHE) Procedures & Guidelines Manual requires that the Purchasing Department through its Fixed Assets section maintain accurate inventory records of fixed asset acquisitions, disposals, and property movement for the College.
  2. Fixed Assets are defined as tangible assets with an initial cost of $5,000 or more and an estimated useful life in excess of one year. Equipment is tagged with a blue bar-coded, seven digit tag.
  3. Equipment that is sensitive in nature or subject to theft, and which is valued over $2,000, but below $5,000 is required to be inventoried, and must be separately tracked by the College. This equipment is tagged with a black bar-coded, seven digit tag.

  4. CSN includes the following items in sensitive equipment (items in bold are also included in the NSHE/Board of Regents Procedures & Guidelines Manual):

    • Automotive Equipment
    • Bicycles
    • Cameras (digital, film, video)
    • Cell Phones
    • Computers (regardless of value)
    • Electronic Equipment
    • Fax Machines
    • Firearms (regardless of value)
    • Lawn Mowers
    • Medical Equipment
    • Musical Instruments
    • Music Systems & Components
    • Printers
    • Science Equipment
    • Technology Equipment
    • Telemedia Equipment
    • Telescopes & Microscopes
    • Televisions
    • Two-Way Radios
    • Veterinary Equipment
    • Video: projectors, monitors, recorders
    • Scales and Balances
  5. A granting agency may categorize non-sensitive equipment and furnishings with a cost between $1,000.00 and $4,999.99 as an “Item of Value”. These items must be tagged with a non-barcode tag (either blue or fluorescent green depending on the source of the funds), in addition to any black bar-coded tag that may be required. The department receiving these items is responsible for maintaining accurate inventory records.
  6. Deans, Directors, or Department Chairs are responsible for reporting all additions, deletions (disposals), or movement of equipment or sensitive items within their areas to the Inventory Control Department.
  7. When equipment or sensitive items need to be moved from one office or campus to another, surplused or salvaged, a Property/Asset Movement Request form must be completed, signed by a Dean, Director, or Department Chair and forwarded to the appropriate department (as described next) for transport.
  8. Requests for movement of computer hardware, peripheral equipment, audiovisual or media equipment must be routed through the Central Help Desk of the Office of Technology Services. Departments are responsible for transport of equipment not handled by OTS. Arrangements should be coordinated through the Facilities Management Department.
  9. When computer hardware or peripheral equipment is salvaged or surplused, the system must be wiped clean and an exiting image installed. At the time of disposal, the Inventory Control Department is the only department authorized to remove the CSN asset tag from the equipment.
  10. The Grants & Contracts Department must approve movement or disposal of Grant Equipment.
  11. Deans, Directors, or Department Chairs are responsible for reconciling annual physical inventories for their areas with the Inventory Control Department records. The accuracy of such reconciliations shall be documented by signed certification and returned to the Inventory Control Department.
  12. College equipment located at off-campus sites and used for institutional programs must be included as part of the annual department inventory. If the institution does not control the site, written agreements must be in place with the organization that controls the site.

Disclaimer

The president has the discretion to suspend or rescind all or any part of this policy or related procedure(s). The president shall notify the appropriate CSN personnel, including the Executive Sponsor and shared governance leaders, of the suspension or rescission.

Questions about this policy should be referred to the Executive Sponsor.