The State University of New York Property Control System (PCS) was developed to provide uniformity in property accountability throughout the SUNY system, as determined by SUNY Central, State University Construction Fund, The Division of Budget and the Office of the State Comptroller.
The manual has been prepared to assist departmental personnel in understanding the Rules and Regulations of the State of New York regarding annual re-inventory, maintaining inventory records, and the disposal of State-owned property.
The PCS manual requires that all property items must be tagged for state owned property with original cost of $1,500 or greater with life expectancy of two or more years. Campuses are required to assign sequentially numbered inventory (asset) decals.
Property Control procedures for tagging assets
- Pull closed purchase orders at Accounting once a week. In order to be pulled, the Purchase order must meet the minimum $1500.00 requirement for the Property Control System. Copies of all the purchase orders are made.
- The purchase orders are taken to the locations shown on the POs, and the property is tagged with either a Property of BSC tag (if it has a serial number) or with a SUCB tag (if the property has no serial number).
- Once the property has been tagged, a P109 form is filled out with the information gathered when tagging it on location. The property is then added to the Property Control System.
- Weekly reports are generated from the Property Control System to make sure that all assets entered on the PCS are on and part of our inventory.
For high risk state-owned property below the $1,500 with the life expectancy of two or more years, the items will periodically be spot checked by audit and control. The campus is responsible for assigning a campus identification decal (Property of Buffalo State College tags) and for verifying their existence and condition.
Why is it necessary to maintain an Inventory?
• To establish property control and accountability in compliance with the Rules and Regulations as established by the Office of the State Comptroller and the State University Research Foundation
• To establish a basis for projecting and budgeting property replacement associations
• To provide accountability for increased security against pilferage of vulnerable property
• To maximize property utilization and identification of assets which are excess or surplus
• To establish a basis for projecting future budgets to support new or renovated Facilities
Asset: Any piece of property or furniture with original cost of $1,500.00 or greater, and a life expectancy of two or more years, and which is not consumed in the course of use.
Owner: While it is recognized, with a few exceptions, that the title of all assets is held by the State of New York, for the purpose of inventory control and accountability, “owner” shall be defined as the department entity, which is the standard.
1. Research Foundation assets are the property of the Research Foundation, but are still part of the Property Control System (PCS).
2. Buffalo State Foundation assets are all purchased through the BSC Foundation accounts and remains the property of the BSC Foundation, Inc., and are kept on the PCS.
Department Inventory Liaison’s Responsibility
a. To reconcile differences between inventory records & physical inventory of assets
b. To make clerical revisions to the inventory as needed and to report any changes to Property Control.
How do I complete my Re-Inventory?
To ensure that a department’s request for additions, deletions or other changes to the inventory were properly recorded; it is necessary to make comparison between the revised Inventory report and the original that was previously supplied. After making the comparison, additions or changes to the inventory are made using the following two approaches:
1. By Using Forms:
Inventory Update Form: Used to describe any asset (s) to be added to the department inventory that does not appear on the revised inventory or to make changes to assets already appearing on the departmental inventory report.
2. By Updating an Inventory Report:
Note changes directly on the inventory report. Sign and date each page. After completing the re-inventory of all rooms under your stewardship, return the revised Inventory report to Property Control. It is advisable to keep a copy for your records.
Suggested Notations to the Inventory Report
1. Assets Properly Located:
a. Place a check mark to the left of the asset number.
b. If the department number is incorrect, write the correct department number or name to the left of the asset number.
c. Review the description. If the asset description is incomplete or inaccurate, indicate the change.
d. The status and condition data on each asset has a direct affect on asset replacement budgets.
Review and adjust these fields to reflect current circumstances.
e. Review and correct manufacturer name. It is possible that the vender’s name was recorded instead of the manufacturer name.
f. Verify all model and serial numbers.
2. Assets appearing on the Printout but not in the room:
a. If you are unable to determine the whereabouts of a particular asset, whether it was surplused, cannibalized, transferred to another department, or location, write “unaccountable” to the left of the asset number.
3. Assets that are in the room but not on the printout:
a. List the assets at the bottom of the printout, with all available information (also include the purchase order number, if known). If a purchase order number cannot be provided, the asset will be added to the department’s inventory.
Maintenance of Inventory Records
Once the comparison is complete and all the necessary additions or change requests have been submitted, use the following forms on a regular basis to update the departmental inventory:
1. Inventory Update Form: This form is used to make changes to assets already appearing on the departmental inventory report. Upon receipt of the Inventory Data Change Form, the requested changes will be entered into the Property Control System.
NOTE: Changes to the following areas listed on the Inventory Update Form require the signature of the Chairperson or Director:
• Source of funding
• Grant Numbers
• Original Cost
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