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Equipment Inventory Policy

Property control tags identify each piece of University owned equipment (excluding the hospital) which has a purchase cost of $1,000.00 or more per unit and a useful life of one year or more. For more detailed information please refer to the University’s Capitalization policy located here: Capital Policy Guidelines.

The tagging procedure consists of Plant and Debt Accounting issuing property control tag(s) and forwarding the tag(s) and a copy of the invoice and/or purchase order to the cost center.  The cost center administrator is required to verify receipt of goods and affix the property control tag to the appropriate item.

Upon this verification, cost center administrators are responsible for updating building, room, responsible person and serial numbers for active equipment within the URSpace equipment module.  Cost center users needing access to the URSpace equipment module are required to complete the URSpace access request form which is located at http://tech.rochester.edu/forms/urspace-access-request/

Equipment updates, transfers and disposals can be completed within the URSpace equipment module.

Plant and Debt Accounting should be notified at equipadmin@rochester.edu if any piece of equipment with a purchase cost greater than $1,000.00 has not been issued a property tag.   The purchase will be reviewed and a property control tag assigned, where appropriate.

Physical verification of departmental inventories will be made every 2 (two) years as requested by Plant and Debt Accounting.

Page updated 10/24/2018

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