Requisition & Fixed Assets Procedures
Requisition starts electronically at the department or campus level within the approved budget system
Business Dept. receives the requisition and checks object codes
Purchasing Department (PRIM) checks the prices to ensure that all quotes are within the recommended guidelines
When equipment is received by the Purchasing Dept (PRIM), they are tagged if object code is 6396 and 66XX.
PRIM delivers the equipment to the department or the campus
The department or the campus verifies its equipment. If it is satisfactory, a hardcopy of the requisition is signed by the receiver, and sent to the Business Dept for payment
PRIM department forwards the tag number along with the corresponding serial numbers to the fixed assets inventory clerk
Inventory clerk uses the data to update the computerized inventory system
Inventory clerk runs a list of all assets from the budgetary ledger, and ties it to the inventory ledger in order to ensure that all items are accounted for
Inventory clerk prints out monthly General Ledger Transaction Details by organization reports for the Fixed Assets 6396 & 6600’s Acquisition Accounts
Inventory clerk Keeps and files Fixed Assets backup copies and reports for auditing purposes.
Each department or school maintains its own inventory records as well