Policies & Procedures


 

Section: ACT
Part: PRO
Statement No.: 10.6
Date: 05/15/09
University of North Carolina - General Administration
Administrative Policies and Procedures Manual
Title: Process Missing or Temporarily Displaced Fixed Assets

1.             Missing Assets

 

Purpose: To consistently document missing assets at UNC General Administration.

 

Documents Needed:                      

·         Fixed Asset Record Adjustment Form (Exh 10.0)

·         Disposition of Assets Form 033

Procedures:

 

Performed By:                        Steps:

 

Department                          l.              Determine whether an inventory item is missing at UNC-GA.

 

Note: Missing items may also be identified during the annual inventory process by the Fixed Assets Officer.

 

                                                2.             Document missing item on the Fixed Asset Record Adjustment Form

                                                                or annual fixed asset inventory worksheet.

 

3.             Submit form and notify the UNC-GA Fixed Assets Officer that an item is missing. As available, provide justification describing facts related to missing asset.

 

Fixed Assets Officer            4.             Inform the Vice President-Finance that an item is missing at UNC-GA. Describe the item in detail and any known information about the circumstances surrounding the missing item.

 

                                                5.             Conduct internal investigation with the Fixed Asset Officer to determine possible locations of missing item.  Fixed Asset Officer coordinates with Management the investigation of items lost as appropriate. 

 

6.             If theft is suspected, inform the State Auditor’s Office that an item is missing at UNC-GA. Describing the item in detail and any known information about the circumstances surrounding the missing item and informing the State Auditor’s Office that UNC-GA will be calling the SBI.

                                 

7.             Inform the SBI that an item is missing at UNC-GA. Follow the instructions provided by the SBI to investigate the missing item.

 

8.             Updates the Completes the Fixed Assets System asset record to a

               missing status.

 

                The missing asset is recorded as a disposal in the Fixed Asset System. The form is forwarded to the form the Fixed Asset Technician to update the automated Fixed Assets System.

 

9.                   During the annual inventory, items may be determined to be  temporarily missing. These items are not recorded as disposals until they have been missing for two years in a row.  A published listing of prior year missing items is attached to all inventory worksheets to locate items missing in the next physical year inventory.