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Printed Inventory process of conducting the annual inventory

Policy Statement

The University of Georgia is required by the Board of Regents of the University System of Georgia (USG) and state and federal regulations to inventory and track moveable assets, including vehicles.  USG policy requires all institutions conduct a physical inventory count annually.

Board of Regents Business Procedures Manual 11.4:  All institutions within the University System of Georgia must conduct a mandatory physical equipment inventory annually. The results of this inventory will be updated into the equipment inventory systems utilized by the institution to satisfy state reporting requirements. These results should change the status or condition of the item if required, such as missing or poor condition.

Reason for policy
In order to be good stewards of state resources, the University of Georgia must know what inventoried assets are on hand and the location of each item.

Conducting the annual inventory process by paper reports is in the process of being phased out to an electronic process using barcode readers.  Until all departments are transitioned to the new process the instructions below will be used as guidelines for this manual process.

A physical inventory of University equipment will be conducted at least annually. At the designated time of inventory, Property Control will provide each Assistant Inventory Control Officer (AICO) computerized listings of equipment charged to his or her unit’s custody. A letter of instructions, to include any special provisions, will also be forwarded. The listings should be verified by actual physical inventory and sighting of the items.

Information on the listings should be verified and corrected as necessary. The listings will be annotated to reflect those items located. Discrepancies will also be noted thereon.

A certification of actual inventory, in the form of a signature sheet attached to the master copy of the inventory printout, placed at the bottom of the listing, will be signed by the department head or his or her appointed representative. This certifies that the equipment on the listing, except as noted, is currently being utilized and is necessary to satisfy federal audit requirements concerning equipment being used for its intended purpose.

Upon receipt of the certified listings, Property Control will reconcile the physical inventory to the master inventory record. Items added and deleted as a result of the inventory will be itemized separately and a total monetary value will be established for each.

Upon request, department heads will be provided with a complete, updated copy of their inventory after all corrections have been made to the master inventory record.

Each Assistant Inventory Control Officer will be given an eight week period to conduct their physical inventory. The department will be scheduled to conduct their physical inventory during the same time each year unless deviation is requested by the AICO and coordinated with Property Control personnel prior to the beginning of the inventory.

Inventories will be considered delinquent three (3) days after the scheduled completion date. Delinquent inventories will result in an email notification sent to the AICO within ten (10) days of the due date followed by a letter to the Department Head if the inventory is not received within the time frame established in the email.  Final notification will be by letter to the Department Head with copies to the Associate Vice President and Controller, the Vice President for Finance and Administration, and the Dean of the school or college to which the department belongs. Inventory due date extensions will not be granted unless warranted by extraordinary circumstances.

All Property Control Forms can be found at the following site:
Additional contacts
Property Control Office, 706-542-4390,
Policy definitions


Assistant Inventory Control Officer.  This individual is the designated contact within a department or unit for inventory issues, concerns, problems, mail from Property Control, etc.


Responsible University Senior Administrator:Vice President for Finance & Administration

Responsible University Administrator: Associate Vice President & Controller

Policy Owner:UGA Property Control

Policy Contact:Craig Mathews

Phone Number: 706-542-4390


How do I report a vehicle that has been sent to the Automotive Center to be used as a turn in on the purchase of a new vehicle?

Notify Property Control ( in writing with the vehicle turn in number and the order number for the new vehicle.  Once the information is verified Surplus Property will begin the disposal process for the turn in vehicle.  Once it has been disposed of it will be removed from the custodial departments inventory.

For what reasons can vehicles be deleted from my inventory?

The most common reasons for deleting vehicles from the equipment holdings of a department are:

     1. Vehicles are delivered to the Automotive Center as ‘turn-ins’ on the purchase of new vehicles.

     2. Vehicle has been transferred to another UGA department or unit.

     3. Vehicle has been wrecked and turned over to the Ga. Department of Administrative Services Risk  Management Division for disposition.

How do I go about getting rid of rusted and inoperable vehicles?

Please contact the Surplus Property office at 706-542-6983 or with details.  Surplus personnel will assist you with the best way to remove these vehicles from your inventory.

Printed Inventory Process of Conducting Annual Inventory - Section 15.4.1