Procedure 4-4

Date effective: 1973-02-08

Authorized by: Vice-Rector, Resources

PERMANENT INVENTORY OF UNIVERSITY FURNITURE AND EQUIPMENT

PURPOSE

1. To establish norms and practices for taking inventory of furniture and equipment in University buildings.
2. This procedure is to be read in conjunction with Policy 41.
3. The inventory list will be updated every year and in the event of a major move. It is the responsibility of each faculty, school or service to maintain an inventory list of University furniture and equipment. Every year or in the event of a major move, each faculty, school or service must submit one copy of its inventory list to MMS. A list is compiled for each specific area (e.g. classroom, office, laboratory, etc.) located in each University building.
4. Until the inventories are computerized and as indicated in the Comptroller's, Financial Resources memorandum dated December 3, 1991concerning the control of fixed assets, each faculty, school, institute, department and service must permanently retain all invoices and information relating to the acquisition and relocation of furniture and equipment. Such information must be readily available at all times.

5. It must be noted that, in compliance with the University's policies and more specifically with reference to:

   • Policy No. 36, Supply of Goods and Services,
   • Policy No. 38, Furnishing Standards,
   • Policy No. 48, Grants and Contracts Administered by the University,
   • Policy No. 85, Administration of Trust Funds,

   all goods purchased, regardless of the type of funding used, remains the property of the University of Ottawa and must therefore be included in the units' inventories.

6. The inventory must include at least the following information:

General Information:

• name of faculty, school or service
• name of administrative unit, if applicable
• name of person taking inventory
• name and signature of officer in charge of the inventory
• inventory date.

Specific Information Required for Every Room and Every Item:

• location and room number
• item number
• complete description of inventoried item:
  • equipment: type, model, serial number, etc.
  • furniture: manufacturer, dimensions, type of material, etc.
  • books: title(s), author, publisher, year of publication, etc.
• quantity
• purchase price for all goods acquired after January 1, 1992 and the corresponding purchase order number.
• NOTE: Indicate if the item is personal property.

7. Although it is often more practical and surely recommendable to inventory all goods contained within a room, adherence to this policy implies that it is sufficient to inventory only those goods with are placement value greater than five hundred dollars ($500) or an entire set of the same article with a value greater than one thousand dollars($1,000). Inventory of consumer goods do not fall under this procedure.

PERSONAL BELONGINGS

8. The University shall assume no responsibility for the personal belongings of its employees, except in cases where such belongings are necessary in his or her profession or in the execution of his or her work in one of the University's buildings. Such employee's belongings should be inventoried and value indicated. In case of loss or damage, for insurance purposes, the University's insurance appraiser shall assess the value of the goods involved.

   This inventory must be submitted to the administrative officer of the faculty, school, department, or service.

9. The inventory for other personal belongings must state "personal belonging", and include the replacement value at inventory time, foreach item, as well as the owner's name. Such personal belongings must be inventoried by the employee, while indicating replacement value at inventory time, and submitted to the administrative officer of the faculty, school, department or service.
10. MMS ensures that inventories are updated and originals are kept on file. The Internal Auditor may, at his or her own discretion, conduct on-site checks of inventory accuracy.

UNIVERSITY PROPERTY LOANED TO PERSONNEL

11. The dean of the faculty, the director of the department or service may authorize loans of University property to personnel.
12. To satisfy management requirements, and those of government authorities, and those of internal and external auditors, the employee who borrows University property must acknowledge receipt of the item by completing the related form (see Appendix B) identifying items on loan and their exact location.
13. Personnel having University property on loan must assume its complete responsibility.
14. University property is insured whatever may be the location as indicated in the University's insurance policies conditions and deductibles.
15. The University's deductibles are based on the eventuality of incidents occurring on University premises. However, should University property loaned to an employee be subject to loss and/or damages, it is possible that the claim will be less than the University's applicable deductible, resulting in a real loss for the University.
16. In cases where University property is loaned to an employee and to prevent total loss for the University, the employee's insurance shall contribute to the reimbursement of such loss and the employee shall be responsible for his or her insurance's deductible.
17. Every item of University property lent to University employees must be inventoried. For each item borrowed, the form confirming that the employee's insurance company agrees to cover costs in case of loss must be completed and attached to the inventory (see example inAppendix B).
18. For more information, contact the Administration Division of MMS.

EXCEPTION

19. No exception may be made to this Procedure without the written consent of the Director, Materials Management Services.

Revised September 22, 1993

(Materials Management Services)