Inventory
Holloway Hall

Annual Inventory Review

The Purpose
As an agency of the State of Maryland, Salisbury University is required to perform annual and periodic inventory reviews of property and equipment.

The Process
Each year all departments are asked to complete an annual inventory and submit it to the Inventory Control Office.  Reports are generated and mailed around the middle of April, and the completed inventory is due on the business day closest to June 30th, the end of the University's fiscal year.

Inventory Control updates the information recorded for equipment based on changes noted on the annual inventory and follows up with the department on any items that are not located so that the inventory can be completed.

Sample Annual Inventory Report (PDF)

Column Heading Definitions
A. Bar Code - The Salisbury University tag number assigned to that piece of equipment.  The equipment will have a metal inventory tag bearing the bar code and tag number.

B.  Bldg/Room # - The physical location of the item.  Standard SU building codes are used as published in the campus directory.

C.  Description - A detailed description of the inventory item, including model number, serial number and other pertinent characteristics.

D.  Serial Number- The serial number of the equipment.  Note:  Not all items on the inventory will have a serial number, so this column may be empty.

E.  Cost - The total cost paid for the equipment, including shipping and handling, assembly, set-up, accessory parts required to operate the equipment.  Maintenance agreements are not included in the cost of an item; they are expensed as they do not extend the useful life of an item beyond the fiscal year.

F.  Date Received - The month and year that the purchase order was paid.  This is not the date of the purchase or procard order.  It can take up to 90 days for funds to be released for a variety of reasons.

G.  Verified- This box is used to indicate if an item was located, and whether or not the information on file needs to be updated.

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