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Minnesota State University, Mankato
Minnesota State University, Mankato

Inventory Management

Page address:

Inventory Links

Asset Status and Location

With the use of a new web-based interactive department asset listings, academic departments and administrative service units will be in a much better position to know where their assests are currently located, if they have been surplused, or if they should be dropped from the active lists.

Ground Rules - What to Track

Statewide Rules: Minnesota State System Procedures for Chapter 7 General Finance Provision & Procedure 7.3.6 Capital Assets. Part 3 Definitions. Subpart A. Capital Asset Categories

6. Equipment

Tangible property complete in itself that is used in the operation of the Minnesota State Colleges and Universities activities for two or more years with a value of $10,000 or more. Equipment is property that does not lose its identity when removed from its location and is not changed materially or expended in use. In addition to equipment with a value greater than $10,000, all computers must be recorded in the Equipment/Capital Asset Module regardless of price and or age.

7. Sensitive Items and Capital Assets purchased with Federal Funds

All sensitive items [&] weapons will be entered on the Equipment/Capital Asset Module. Examples of weapons sensitive items are weapons (firearms, swords, crossbows, etc.), electronic equipment (computers, projectors etc.) etc.

All capital assets purchased with federal funds with a cost of $5,000 or more will be entered on the Equipment/Capital Asset Module, and inventoried, at a minimum, on a two year cycle (see Physical Inventory section below).

Local Rules: MSU Definitions of Items to be Tracked.

In addition to the Minnesota State requirements, MSU has the following required items to be tracked.

  • Items with a value of $10,000 or more.
  • Federally funded items with a value of $5,000 or more.
  • Sensitive Electronics:
    • Computers (Desktop, Laptop, Tablet, iPad, Netbooks, PDA) - Though not a substitute for routinely updating the Department's formal inventory list (see links below), you may use this Inventory Control Spreadsheet to keep track of who has been assigned a computer and other theft sensitive items. Once you fill out the form, click "Save" button to download the file on your computer.
    • Printers or Copiers containing a hard drive to store data.
    • Weapons
  • The status must be reported of items surplused, stolen or not found.

Who Is Responsible?

In order to increase the accuracy and speed with which the inventory can be completed, University departments have the primary responsibility for tracking and updating their own inventories.

When Inventory Updates are Required:

  • Annually - $10,000 and Above Items
  • Annually - All Asset Tagged Inventory on each Department's Fixed Asset List.

Conducting an Inventory of University Assets:

Each department is responsible to assign one or more individuals to verify that all assets assigned to the department have been seen and are accounted for properly.  Any changes to the status of an asset should be noted on the records used to conduct the inventory, and provided to the Facilities Management department at the completion of an inventory. Changes in the status and/or location of computers must be communicated to IT Services which is responsible for the final disposition of computers identified by departments as candidates for surplus – just noting that a computer is “surplus” is not enough as the item needs to be turned over to IT Services so it can be “scrubbed” with sensitive information wiped clean from the hard drive consistent with Minnesota State requirements. University Stores/Materials Management will conduct routine audits of department inventory according to an established schedule. Such verification audits will be done with a hand-held scanner device and/or with existing "hard copy" inventory lists. Audit teams will require the assistance of a department escort to gain access to rooms where fixed asset tagged items are located.

Examples of Changes in Status include:

  • Location of Asset (Building and Room Number)
  • Name of University employee responsible for item
  • Other Status Changes
    • Surplused(Date)
    • Transferred to another department (Who and Date)
    • Lost/Stolen (Date and University Security Report Number)
    • Recycled (Date)
    • Sold (Date)
    • Not Found during current Inventory

After the inventory has been completed, forward the documents to David Cowan, WC 358, or (electronically to

Surplus Property Disposition Procedures

State property, even though it may no longer be suitable for use by the University, remains "state property" and must be disposed of in accordance with University procedures. When departments have identified an item for surplus they should:

  • Step 1 - Complete a "Surplus Tag" using this downloadable form: [PDF] Surplus Tag (52 KiB) and attach it to the item. Be sure to include the fixed asset number on the form, and keep a copy of the Surplus Tag for your records.
  • Step 2 - Determine whether the item is for IT Services or Delivery Services.
    • For computer hard drives and computers that have data storage capability, you must contact IT Services' Help Desk ((507) 389-6654) or use the Self-Service Request. IT Services will "scrub" these devices. Computer-related surplus items which have fixed asset tags are identified by IT Services and the information forwarded to University Stores so the item can be deleted from state inventory records.
    • For furniture and other equipment, complete the Surplus Property Pick-up form, which will be sent electronically to Delivery Services. Delivery Services will then schedule the pick-up. Surplus items which have fixed asset tags are identified by University Stores and deleted from state inventory records.

Under no circumstances are surplus items to be left in hallways or put in dumpsters. Secure all surplus items until either IT Services or Delivery Services can pick them up.

Leaving discarded personal property on MSU's campus is prohibited.

Per Minnesota State Procedure 7.3.13 Surplus Personal Property / Building Disposal, the system office, a college, or a university shall sell, trade in (if item has a value), give away, or destroy surplus personal property that is no longer useful. The system office, college, or university shall take the following steps for disposal of surplus personal property... (please read the policy for complete details).

  • Step 1: Offer to other offices ,departments, divisions, or campuses withing the institution.
  • Step 2: Offer to other insitutions within the Minnesota State Colleges and Universities system.
  • Step 3: Offer for sale to the general public by sealed bids, public auction, negotiated sale, pre-pricing garage sale, or non-sale by consignment or donation, or use the services of the Department of Administration's surplus services program.