Fixed Assets Inventory reports will be sent to all departments in the next several weeks in preparations for the annual fixed asset audit.  Please take this time to review the Fixed Asset Polices, which can be found on the controller’s website here.

A few of the highlights include:

• Equipment with a cost of $2,500 or above is considered capital equipment and must be charged to account 7256.
• Each piece of capital equipment is assigned a tag number.  This tag must be attached to the equipment.
• The Controller’s Office should be notified “before” any capital equipment is disposed.
• A completed and signed disposal/transfer form with the inventory tag attached should be sent to Controller’s Office.

If you have any questions, contact Maurice Robinson 567-7139 or robinson@iit.edu.