This Property Policies and Procedures Manual is for the use of all Departmental Inventory Coordinators or other persons who are responsible for University Property. It is hoped that this manual will provide you with adequate information concerning accountability for University property.

Changes in State and University rules and regulations may necessitate revising parts of the manual periodically. These revisions may be easily inserted into the manual if it is placed in a three ring binder. If you have any questions please call the Inventory Control office at 852-6131.

Purpose

The purpose of this manual is to establish uniform University wide procedures in receiving, marking, accounting for, and disposing of property items at the University of Louisville. Pertinent Inventory Control policies have also been placed in this manual to provide necessary guidance for Departmental Inventory Coordinators or other persons designated as property custodian.

The purpose of Inventory Control is to maintain correct and current information of departmental property inventory, to tag new equipment and update inventory records of all items over $1,000 in value. Inventory Control is also responsible for approving transfer of equipment and surplus property. (Central Purchasing Policies 33.00)