Annual Inventory for Capital Assets Procedure

Asset Management’s Responsibility

Asset Management will perform the annual inventory of capital assets efficiently and completely by utilizing both traditional inventory and advanced inventory methods. You can expect Asset Management to use the following methods while completing the annual inventory for your department:

Scanning – Asset Management staff will come to your department and use Apple devices to scan the decals on the capital asset(s) (below is an example of a capital asset decal).
Fuel or Maintenance Logs – Asset Management uses UF Motor Pool fuel and maintenance records to document the existence for the annual inventory.
Network Connections – IT equipment has the benefit of network connections that can enable an “electronic touch” to each machine. Electronic “pings” can be sent to groups of computers to validate the P.C. to the MAC address. This inventory method is a common commercial practice for IT equipment, and is formally recognized as a standard practice by ASTM International (see ASTM E2132‐11).
Library Resources – Library Resources use the online public assess catalog as inventory record.

Department’s Responsibility

Departments will perform the following actions to support Asset Management in the annual inventory of capital assets.

Identify capital assets in inaccessible locations, such as in a facility deemed inaccessible due to safety reasons. See the list of inaccessible locations.
Annually, request Asset Management approval for the department to certify all capital assets in the inaccessible location for annual inventory.
Complete an Off-Site Certification annually for all UF property that is not located at a UF owned, leased, or used locations, as identified in the UF’s Space Tracking & Reporting System.
Follow procedures in the RAC to have the property user complete the certification.
Locate missing capital assets that were not found during the first annual inventory pass.
Join the Property Listserv. Asset Management uses this listserv to communicate with the campus community on property issues (List Archive is available).