Fixed Asset Biennial Inventory
RELATED POLICY STATEMENT(S):
July 1, 1993
July 1, 1997
To help ensure that fixed assets owned by Creighton University are properly accounted for, a biennial (every two years) physical inventory will be conducted. The inventory will be conducted on a cylce basis.
Inventory Write Up Sheet
The assets will be scanned. If assets are untagged,they will be recorded on the inventory write-up sheets and become part of the reconciliation process.
During the inventory process the building and room numbers will automatically be updated. Upon completion of each building a summary of reconciliation items by department will be presented to each department head or administrator for review, comment and resolution. This follow-up needs to be completed on a timely basis (30 days) to ensure accurate reconciliation.