Frequently Asked Questions
What is an Inventory Custodian?
- An Inventory Custodian is appointed by each Department Head or Chair at ASU.
- The Inventory Custodian has the primary responsibility for maintaining the department's inventory records of state owned assets that have been purchased, donated, leased or transferred into the department.
- The Inventory Custodian has the primary responsibility for coordinating the transfer of assets, whether this is between offices or rooms within a department; between departments on campus; or to the warehouse (in the case of surplus items).
- The Inventory Custodian has the primary responsibility for coordinating the Temporary Removal of Assets from the department.
- A secondary responsibility of the Inventory Custodian is to foster a sense of respect among department members for the property that is in the department's possession.
What is an Inventory?
- An Inventory is an itemized list of assets currently in service.
What is an Asset?
- An Asset is an item of value that must be secured and tracked in inventory as set forth by the Georgia Code Section 50-16-16.1.
What is a “Capital Asset” and how are they tracked?
- A “Capital Asset” is an item valued at $5,000.00 or greater with an estimated life of at least 1 year. Capital Assets are depreciated and tracked in the Peoplesoft-Asset Management module.
What is a “Small Value Asset” and how are they tracked?
- A “Small Value Asset” is movable property valued between $3,000.00 and $4,999.99 that is tracked for security purposes through the Peoplesoft - Asset Management module. Small Value Assets are not depreciated.
- Examples of a “Small Value Asset” include electronics such as cameras, laptop computers and other valuables that have a unit cost between $3,000.00 and $4,999.99.
- Exception: All firearms and two-way radios are considered “Small Value Assets” regardless of cost.
What are “Controlled Assets” and how are they tracked?
- “Controlled Assets” are items of value, below the $3,000.00 threshold , that the University requires be tracked for security purposes. They do not appear on the Peoplesoft Inventory, but are required to be monitored nonetheless.
- “Controlled Assets” are so classified because they have a high incidence of loss, theft and/or misplacement.
- Inventory Custodians bear the responsibility of monitoring the whereabouts of these assets, particularly in the instance of cameras, laptops and other valuables that are shared among several department members . A sample spreadsheet for tracking these items is available online.
How do I obtain a copy of my department's Peoplesoft Inventory Records?
- A print out of your inventory list will be furnished to you each October. You may request a full report at any time from the Business Office. Email your request to Vera Boyll at firstname.lastname@example.org
What is an ASU Property Tag?
- An ASU Property Tag is a numbered metal tag that is permanently affixed to an asset at the time the asset is delivered to your department.
What is the importance of an ASU Property Tag?
- The ASU Property Tag provides a numeric control that is critical to the effective tracking of assets. It also identifies an item as state owned property.
What is the difference between the ASU Property Tag and the Asset ID?
- The Asset ID is the number assigned by Peoplesoft and serves as the control number within the Peoplesoft-Asset Management module for accounting purposes. The Asset ID is needed to view asset information in Peoplesoft. It differs from the ASU Property Tag, which is the tag physically affixed to the inventoried item for Department of Administrative Services (D.O.A.S.) purposes. Unfortunately, there is not an easy and cost effective way to have both numbers be the same.
Who assigns the ASU Property Tag?
- The ASU Property Tag is assigned by Central Services whereas the Asset ID is sequentially assigned by Peoplesoft when an asset is added.
What do I do if the ASU Property Tag is missing?
- Generally, when you can't find a tag it is simply because it has been affixed to the asset in a place that is difficult to see. However, from time to time a tag might fall off during the course of day to day use. In these cases call Central Services to arrange for another ASU Property Tag to be affixed. The Inventory Custodian needs to instill in department members an understanding of the importance of the ASU Property Tag. When it comes to ASU Property Tags… “DO NOT REMOVE”.
What do I do if the ASU Property Tag # does not match the number on the inventory list?
- First check to be sure there is not a second tag. Sometimes multiple tag numbers exist due to past changes in inventory systems. If this isn't the case, ask for further help (see the help contact information at the end of the FAQ's).
- If there are multiple ASU Property Tags, please contact Central Services.