11.3 Institutional Use
Institutional use of the equipment inventory data includes, but is not limited to:
Accountability: Assigning a custodian to every equipment item.
Location Control: Maintaining an accurate location for the item.
Loss Control: Maintaining adequate records to insure that the item is still available for institutional use, and/or becoming aware that an item is missing in a timely manner.
Physical Inventory: Producing various listings/data files to facilitate the task of conducting actual physical inventories to verify current locations, conditions, etc of each item on inventory.
Value Assignment: Assigning a value of equipment by building to assist in the preparation of the annual report to the Department of Risk Management.
Tracking of Non-University Equipment (Federal, NIH, DOD, etc): Tracking and assisting with calculation of indirect cost overhead rates for sponsored operations.