The Inventory Services unit of the Accounting and Financial Management is responsible for the overall accounting management of capital and controlled assets for the University of Texas at Austin.
The primary mission of Inventory Services is:
- To insure that correct procedures are followed
- Assist departments in accounting for their inventory by tracking assets from acquisition to disposal; and
- To accurately report required asset data to the State of Texas Comptroller, federal, and non-federal sponsors
The DDCE Inventory Management Guide was developed by the DDCE Office of Business Affairs staff to assist you with policies, procedures and training information.
COVID-19 Off-Campus Inventory Tracking
- A COVID-19 Office-Campus Asset Removal form was created in DocuSign was created in an effort to make tracking as painless as possible.
- Inventory Services must initiate each instance for the form to be routed properly, and the initiation of the form will serve as Inventory Services’ “prior approval.”
- The employee and their supervisor must use this form to describe assets being removed and the location to which the assets are moving.
- The form requires both employee and supervisor signatures to acknowledge the removal of UT property and the expectation that the asset is to be returned.
- The form is automatically routed to Inventory Services for documentation purposes.
- Items that are mobile in nature (such as laptops or cell phones) are not included in the need to sign this form.
- The issuance of this type of item already implies that it will be regularly removed from campus.
- This form is only required in COVID-19 remote working asset removals, such as desktop computers, furniture or scanners.
- We know that some of this activity has already taken place, and we ask that employees fill out the form retroactively.
Links and Resources:
- Inventory Services
- Handbook of Business Procedures, Part 16. Inventory Control and Property Management
- Handbook of Operating Procedures 3-2020-PM, University Funds
- Inventory Training – Web page
- Inventory Training – Life Cycle of an Asset
- Departmental Inventory Portal – Web page
- Inventory Monthly Q&A Session – Class
- Running an NVP Report – Handout
- Tagging Equipment Guide
- Inventory Q&A Information
- Assigning Inventory Object Codes
- Depreciation Calculation Template (Excel Format)
- Controlled Class Codes
- List of Controlled and Capitalized Items