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  1. Inside NKU
  2. Office of the Comptroller
  3. Equipment & Inventory
  4. Moveable Equipment Overview

Moveable Equipment Overview

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Purpose:

The Office of the Comptroller maintains records on all university moveable equipment. The comptroller's office must file numerous reports to state/federal insurance agencies and accurate data is of utmost importance. The purpose of the annual inventory verification is to confirm the existence, location and condition of moveable equipment assigned to each department on campus and to ensure the accuracy of the equipment records.

Definition of Moveable Equipment:

Moveable equipment is currently defined by NKU as having the following characteristics:

  1. Has a unit cost of at least $500.00 for laptops and tablets, and $2,500 for all other equipment.
  2. Has a useful life of at least one year
  3. Does not lose its identity through incorporation into a more complex unit

Related Links

SAP System Help
Equipment & Inventory
Grants & Contracts
Interdepartmental Bill & Recode Procedures

Responsibilities:

  • Role of the comptroller's office:
    The comptroller is charged with the responsibility of maintaining the inventory records on all moveable equipment from the time of its acquisition until its final disposition. Upon delivery of new equipment, the comptroller's office must verify and identify the equipment with NKU identification numbers. The office must provide procedures and policies for the safeguard of its assets and must maintain records that can accurately track equipment and its location at all times.

  • Role of Individual Departments:
    As in the past, ultimate responsibility for university property rests with major department heads, deans, and directors. Each department is responsible for the protection, maintenance and custody of its equipment. Each department is also responsible for completing proper records for the transfer or surplus of its assigned equipment and must conduct an annual verification of its inventory.

  • Custodial Responsibility Assignment:
    Custodial responsibility for equipment is assigned to the department nearest the equipment.  In most cases, this responsibility rests with the "purchaser" department/owner/funding source. In some cases, when the equipment is located in a public area and not in the general area of the "purchaser" department, the responsibility shifts to the department nearest the equipment. The change of responsibility is accomplished via a transfer form signed by both parties. Until the transfer takes place, the equipment is assigned to the "purchaser" department. 

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