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Physical Inventories

  • 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
    • 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.