Yearly Inventory of Department Assets

Yearly Inventory of Department Assets

• Timely completion of inventory is essential for accurate reporting of department contents' value.
• An annual contents insurance policy is based on the calculated value from inventory.
• Inventory printouts, along with instructions, will be shared with Division Commanders for dissemination to Inventory Members.
• Each department element must designate an Inventory Member to verify and complete annual inventories in December.
• Upon completion, a signed printout and a memorandum detailing asset discrepancies must be submitted.
• Mandatory details in the memorandum include asset numbers, inaccuracies, and pertinent information from the Inventory Member.
• Combined printouts are not allowed; each element requires individual summary memorandums.

Asset Inspection and Responsibilities

• The Accounting Section conducts unannounced monthly inspections of 1 to 3 department elements.
• Inspection selection noted in a log to ensure all elements are examined at least once.
• Supervisor/Commander notified one day prior to inspection to assist in asset location.
• Inspections range from 5% to 10% of total fixed assets of an element.
• Any discrepancies found are communicated through a memorandum up the chain of command.
• Specific unit responsibilities include:
  • Communications Support Unit: radios and communication equipment.
  • Technology Support Section: computers, laptops, and related software.
  • Fleet Operations Unit: vehicles, bicycles, and ATVs.
  • Supply Section: firearms and conducted electrical weapons.

Lost or Stolen Items Procedure

• If items are lost or stolen, a memorandum detailing the incident is forwarded up the chain of command for removal from inventory.
• The memorandum must include asset descriptions, assigned element information, and serial numbers.
• The Accounting Section updates inventory records as directed by the Executive Services Bureau Commander.

Equipment Acquisition

• New equipment requisitions processed by the Purchasing Section; Accounting Section determines fixed asset entry.
• Receiving unit must notify Accounting within two weeks if items are delivered without an inventory control number.
• Requests for surplus items are submitted to the Accounting Section for transfer.
• Returning items to surplus requires written requests coordinated by Accounting.

Equipment Transfer and Acknowledgment

• Equipment transfers between sections require completion of Form 269 P.D. for acknowledgment by both relinquishing and receiving elements.
• Both supervisors must sign, date, and forward the Form 269 P.D. through interdepartment mail.
• Inventory Control Coordinator updates records after receiving the form and returns a copy to the relinquishing supervisor.

Repair or Replacement of Office Equipment

• For office equipment needing repairs, the Accounting Section must be notified with asset or serial numbers.
• The FSU decides between repair or replacement of office equipment.
• Request for replacement must be made in a memorandum through the chain of command to Purchasing.
• Office furniture repairs or replacements also require notification to Purchasing and Accounting Sections, with corresponding asset numbers available.

This quiz focuses on understanding the process and importance of conducting a yearly inventory of department assets. It covers the responsibilities of department personnel and procedures for documenting asset management effectively. Test your knowledge of compliance with organizational inventory policies.