Inventory Control Panel DiscussionJamie Wheat, BFS/GA/Equipment ManagementWednesday, March 26, 2014

Introduction: “Have You Been Involved with Asset Management Long?” (NPMA 2001)

This presentation is a panel discussion established to share best practices for managing assets (equipment and other types of property).

You will have the opportunity to learn from your peers and leave with a better understanding on how to manage UC inventory.

Fact to know: UC Regents and the Federal Government require UCSD to complete a Physical Inventory of all Capital Assets at least every two years.

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Facts to Note• Controls: Processes designed to ensure

that an organization is working toward its stated objectives.

• One key control required of all UCSD departments is: Performance of a physical inventory assets.

• SAS – Statement of Audit Standards

• Business and Financial Bulletins 29

and 38

• FAR – Federal Acquisition Regulation

• OMB – Office of Management and Budget

March 14, 2014March 14, 2014 Source: BFS Internal Controls Workshop

Source: BFS Internal Controls Workshop

Internal Controls: Internal controls are the processes employed to help ensure that the University’s business is carried out in accordance with these Standards, University policies and procedures, applicable laws and regulations and sound business practices. They help to promote efficient operations, accurate financial reporting, protection of assets and responsible fiscal management. All members of the University community are responsible for internal controls.

The UC Standards of Ethical Conduct state:

The Life Cycle for

Managing Property for UC

and our Sponsors

The Life Cycle for

Managing Property for UC

and our Sponsors

Inventory Control Panel Discussion

Meet the Panel:Ken Tomory, MSO for Institute of Engineering Medicine

Debbie Mowry-Emison, Facilities/Logistics Manager for Academic Computing & Media Services

Stephanie Schuck, Purchasing Coordinator for Division of Biological Sciences

Hanna Choe, Fiscal Specialist for Integrative Oceanography Division

Steve Van Duine, Surplus Sales Supervisor

Jamie Wheat, Equipment Management will be the Moderator for the discussion.

Business and Financial Services

Thank you!

The University has adopted the principlesof internal controls published by the Committee of Sponsoring Organizations (COSO) of the Treadway Commission (UC Standards of Ethical Conduct).