Last March, due to COVID-19 campus protocols, the university suspended the inventorying of capital equipment. Capital equipment items are valued at $5,000 or more with a useful life of more than one year. Beginning this March, the inventory of capital equipment will restart with modifications in place to handle the current work-from-home circumstances and occasional campus access.
The Campus Controller’s Office worked with a focus group of departmental staff, property managers and other higher education institutions in the state to develop recommendations for completing capital equipment inventory during this COVID-ready campus period of operation.
Plans for the upcoming inventory cycle
Tapping into feedback and insight from stakeholders who represent 70% of all capital tags on the CU Boulder campus, CCO has developed the following recommendations to proceed with capital equipment inventorying:
CCO aims to inventory around 80% of capital equipment on campus by June 30, 2021. The inventory system will track items that need to be verified and, as campus access increases, we intend to inventory 100% of capital equipment by December 2021.
Why does the university inventory capital equipment?
The university is required by state and sponsor agreements to perform biennial inventories of capital equipment. There are also practical reasons for completing an inventory:
Your effort and collaboration is appreciated
Our staff appreciates your efforts to accomplish this task and is ready to assist physically as needed. We understand that COVID-19 concerns will disrupt the process and we have provided tools to assist in the completion, such as certifying equipment is present from a list of items. We are trying to balance safety with established requirements due to contracts, grants and loaner agreements.
If you have questions, please contact: Greg Roers, Campus Controller’s Office, Debt and Asset Manager