• Inventory of Expendable Supplies
• Change in Accountability
• Surplus Property

State law requires the University to keep an inventory of all tangible non-expendable property with a value of $500.00 or more. When such property is purchased, it is primarily the responsibility of the department to ensure that Inventory Control (phone 4435) is notified and an MSU property number is affixed. When the item arrives in the Central Receiving area it is tagged with a blue and silver MSU inventory tag and placed on the ordering departments' inventory. Occasionally, an item which must be assembled or installed on site will be sent on report of inspection, the department should immediately notify Inventory Control when operable so the item can be tagged.  Inventory Control must also be notified of the purchase of items which will increase the value of existing property by $500.00 or more.

All tangible non-expendable property with a value at or above $500.00 purchased through inter-account or by credit card from (Wal-Mart, Cardinal Office, etc.) should be reported to Inventory Control on an "Asset Information Form" as found on Forms Central. An MSU property number will be assigned and sent to the department to be affixed to the item(s) purchased.

All tangible non-expendable property donated to the University must not be accepted until a "Notification of Proposed In-Kind Gift Donation" is filled out and signed by the proper authorities.  A copy of this form must be sent to Inventory Control so that the item may be added to inventory. An MSU property number will be assigned and sent to the department to be affixed to item(s) donated.

Items purchased through a federal grant will be inventoried the same manner as above. Upon termination of grant, it is the project director's responsibility to notify Inventory Control as to whether said equipment has been donated to Murray State University. If items were returned to the grantor, the department must notify inventory control to remove item(s) from the inventory using a "Request for Change in Accountability" form (Pur-Sp-Serv-IC 350).

Changes in the inventory listing may be made from time to time as the location or condition of the equipment changes. The Department Chairman should appoint a responsible person to act as a Departmental Inventory Coordinator.  All other departmental personnel should report inventory changes to this person.  Equipment locations must be updated at least every time the annual inventory is conducted, if not more frequently.  In the event of an audit, if an asset cannot be found at the inventory location, the Departmental Inventory Coordinator will be asked to produce the asset.  Changes shall be made by submission of the "Request for Change in Accountability" form (PUR-Sp-Serv-IC. 350) which may be obtained by calling Inventory Control.

It is always best to discuss an inventory change with the Departmental Inventory Coordinator before it occurs, rather than after the fact.  Finally, please be responsive to requests for information from your department's inventory coordinator.  The coordinator's efforts to keep accurate inventory records help to maintain your department's eligibility for insurance coverage.

An inventory printout for each department will be sent out early April each year, and an actual physical inventory shall be taken by each department no later than June 1st. From this inventory, the current property list will be updated by Inventory Control and a complete up-to-date list will be presented to the Vice President of Finance and Administrative Affairs no later than August 30th each year. This inventory will show the items assigned to each department along with the value of each item. At the same time, a complete list of all the expendable supplies in each department as of June 30th each year will be supplied to the Vice President's office.

During the year, spot checks of departmental inventories may be conducted by Inventory Control.

INVENTORY OF EXPENDABLE SUPPLIES

An "Annual Inventory Value of Supplies and/or Expendables" form (PUR-SP SERV-IC. 357 (4-95), is sent to departments annually (usually in April) and is due in Property Services by June 30th. This is to inventory the expendable items on hand in your department. It is not necessary to count each item, but rather to give an overall estimate of supplies and computer software on hand as of that date i.e. paper (bond, memo, xerox, letterhead) and etc. listed as follows:

1. Date should be June 30th of current year.
2. Accountable Dean, Chairman, or Director.
3. Department Name.
4. Account Number of Department.
5. Building Number (FH-Faculty Hall, FA-Fine Arts, etc.)
6. Person to contact is the person responsible for the account.
7. Account Manager's telephone number.
8. Account Manager's room number.
9. Building number of Account Manager.
10. Supply category as listed on sheet, fill in applicable listing.
11. O/C means O-office and C-classroom.
12. Value should be rounded off to the nearest estimated dollar.
13. Include any expendable item not listed such as testing materials, and etc.

This report must be compiled, condensed, and included in the annual inventory report.  It is very important that this be returned by the date specified.

CHANGE IN ACCOUNTABILITY

The "Request for Change in Accountability" form is used for any equipment moved from your department whether it be lost, stolen, loaned, given to another department, etc. When this occurs, the form must be filled out in detail and sent to Inventory Control. For assistance see below:

1. Current Date. Date action is taken or request is typed.
2. Department Chairman's Name or Name of Director.
3. Department name initiating action (Admissions, Marketing, and etc.)
4. Account Number of department initiating action.
5. Building and room number where department is located.
6. Person to contact regarding items listed.
7. Building and room number where person can be located.
8. Replacement value of the item, call Procurement if you need assistance.
9. Check if property is lost, stolen, or to be transferred to surplus.
10. Give a good description. Since the item may have to be picked up without further help, it is important identification can be made based upon your description.
11. The present location of the item. Give the building and room number.
12. Give the serial number of the item. This can usually be located on the side or back on a small metal tag attached to the item.
13. Give the MSU inventory tag number. (A blue and silver tag attached to the item.)
14. State where the item is to go---Surplus Property, another Dept., and etc.
15. We must have the Chairman/Director's signature before action will be taken.
16. Acknowledgment of receipt should be signed only if transferring to another department and upon receipt of the items.

PLEASE REMEMBER: THE DEPARTMENT CHAIRMAN IS ACCOUNTABLE FOR ALL PROPERTIES UNLESS OTHERWISE STATED.  They ensure that property in their department's custody is identified, inventoried, safeguarded, maintained, utilized and disposed of in accordance with MSU, state and federal regulations and laws.

SURPLUS PROPERTY

Often furniture and equipment outlast their usefulness to a department or project and the items are still in fair condition. Departments are encouraged to report surplus items to Procurement Service's Property Services Coordinator. The property is picked up, stored in a warehouse, and made available to other departments on campus on a no charge basis. Items which are no longer required for the operation of the university are disposed of by public auction, sealed-bid, or sent to surplus property division, Frankfort, KY. 

Surplus material and equipment represent an investment in materials originally procured through Procurement Services with state funding. The recovery value may be considered as an offsetting factor of materials cost. Therefore, all surplus property should be evaluated by Procurement Services prior to any commitments.

Surplus property is reported on the "Request for Change in Accountability Form" (PUR-SP Serv-I.C. 350).