Property Management

State law requires that a complete physical inventory be conducted each fiscal year. UNT and UNTS will conduct the annual inventory in the month of April each year.  Property Management will electronically send the Department Inventory spreadsheet during the last week of March.  Upon completion (due no later than the last working day of April) an Annual Physical Inventory Certification is signed by the department Chair/Director and the asset coordinator and returned to Property Management. 

Tips and Techniques:

• Having current, accurate location and custodian of each asset in EIS is paramount.  Upkeep of this information by the Asset Users should be performed throughout the year.
• Physically locating assets based on accurate location and custodian ensures timely completion of the annual requirement.
• Break the inventory into manageable pieces. (i.e. room/building/type of assets/acquiring Dept/ProjID/custodian)
• Property inventories should be conducted by individuals (verifiers) who are not responsible for the property being inventoried nor for accounting for it on a day to day basis.
• Complete all documentation required to support the inventory. Inventories are not complete until all supporting documentation and the summary sheet are turned in and accepted by Property Management.