[Asset_mgmt] Property Policy Updates

[Asset Management]

Property Representatives,

The Controller's Office will be instituting a few new procedures regarding the biennial review of departmental capital inventory. These new procedures will not affect your departments normal yearly inventory and only pertain to departments that perform their own annual inventory.

Off-Site Capital Equipment
Starting fiscal year 2020, the Controller's Office will incorporate ALL off-site capital items into a departments' biennial review. All offsite items will need to be verified, in addition to the sample of chosen assets that are selected for a department's review. How a department goes about verifying an of off-site item will not change. The department will still be required to provide a photo of the capital item that also visibly shows the date and time the photo was taken. Departments that are scheduled for a review during the fiscal year will be allotted ample time to accommodate this request. If a department is up for a review, they will be able to submit their photographs with date/time stamps for off-site capital items from the end of July thru April. All departments will be properly notified in advance if they are to receive a review per normal procedures.

Federal Property
Starting fiscal year 2020, the Controller's Office will also incorporate ALL federally titled capital items into a department's biennial review. All federally titled items will need to be verified, in addition to the sample of chosen assets that are selected for a department's review.

If you have any questions or concerns, please feel free to email PAS-ProertyForms at fsu.edu<mailto:PAS-ProertyForms at fsu.edu>. We will reply to all inquiries as time permits.
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