CP. Inventory of College Equipment

All equipment, vehicles, office equipment, computers and accessories that
are bought out of an equipment account must have an SPC inventory
number. Items costing $10,000 or more are capitalized and depreciated.

PROCEDURE

Locate the purchase order number on the shipping label and verify if it
is from an equipment account. The equipment is then tagged and
logged into the inventory system. It will be delivered within five (5)
business days to the department for which it is ordered. A copy of the
invoice must be signed and dated by the person receiving the
equipment.

If the item is purchased out of grant monies, then it is automatically
tagged and logged in the inventory system, specifying which grant (i.e.,
Perkins Grant, TIF Grant, Title V Grant and other grants) provided the
funds.

Anyone who receives equipment that falls within these criteria must
call ext. 2450 or bring the equipment to the office of the Director of

ACCOUNTING

Monthly Spot Check
A monthly spot check will be conducted for the purpose of locating
inventory items and keeping inventory records up to date. If an
equipment item is found that meets the criteria for being an
inventoried item, then it will be recorded as part of the spot check
process.