West Virginia University must conduct an inventory of all equipment including all
items of government property in its custody both at an interval approved by Office
of Naval Research and at the conclusion of a contract.
Currently, WVU conducts a
University wide inventory once every two years and it involves the following:
Property Management generates an inventory of property (including government owned
property) for each department.
A designated department contact must physically locate each asset on this inventory
and mark its status on the inventory. (The inventory contact must be someone other
than those maintaining records or who have equipment in their own custody.)
The custodial contact notes any changes to the status of equipment on this inventory
and initiates any internal location changes by transferring the asset via MAP Fixed
Asset module via the procedure located at http://map.wvu.edu/main-training/training/fa.
The department submits the final inventory status via the on-line physical inventory
database.
Property Management reviews all inventories, performs sample audits, and updates
any corrections the department submits via the on-line physical inventory system.
Ensures all location changes have been completed. Property Management Office reports
any inventory adjustments to the Office of Naval Research within a reasonable period.