University of Vermont

Cost Accounting Services

Cost Accounting Standards Annual Inventory of Movable Equipment

During the April-June time frame of each fiscal year, departments are requested to conduct an inventory of University movable equipment. The scope of the inventory is to record the location, assess the condition, usefulness and report other pertinent information. The movable equipment inventory is part of the space and equipment inventory process.

The space and equipment inventory results are entered into the University FAMIS self-service system which records the University official space information. Movable equipment located within the University's space is entered by department personnel in the appropriate building and room.
  • Personnel assigned by departments to conduct the inventory are required to receive FAMIS space inventory training from Campus Planning Services (Michael.A.Richards@uvm.edu) before obtaining access to the FAMIS self-service system.
  • A drop down list of the current active movable equipment is available for inventory personnel to place an equipment item in a room.
  • A comment field is available to communicate important information regarding the equipment item. For instance, the equipment was disposed of since the last inventory was conducted or whether the equipment item is available for other departments to use.
  • Movable equipment location changes are recorded into the Asset Management database via a nightly feed from the FAMIS system to Peoplesoft AM database
Movable equipment such as vehicles and equipment located outside of University space are required to be inventoried. The inventory results are recorded in a spreadsheet by the department and emailed to Cost Accounting Services. A department certification of the inventory results is required.

The departments are responsible for verifying that all items have been inventoried and a certification form is submitted. Cost Accounting Services validates that the submitted inventory results are complete.

For additional information regarding the movable equipment inventory process, refer to the comprehensive space and equipment inventory web site or contact Laurie.Desso@uvm.edu

Last modified February 06 2012 08:26 AM

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