Controller's Office

FAQ's fixed assets

What equipment will require an LCSC inventory tag?
Equipment purchased with a unit cost of $2,000 or more and anticipated to have a useful life or service period exceeding three years, will be tagged with a LCSC numerical inventory tag. In addition, any donated item that has a fair market value of $2,000 or more, at the time of donation, will be tagged with a LCSC numerical inventory tag.

 

When will I receive an inventory tag?
Once payment has been submitted for the purchase of a fixed asset, a numerical inventory tag will be assigned. A copy of the Purchase Order and the numerical inventory tag will be forwarded to the department. The inventory tag should be applied to a clean, visible location on the fixed asset. The department staff will write the serial number, building and room number on the Purchase Order and return the Purchase Order copy to the Controller’s Office.

 

Can my department sell unwanted equipment?
Under certain circumstances, equipment can be sold to the general public. Contact the Purchasing Department for further details. Employees of Lewis-Clark State College, including their spouses, dependents or any other person acting on the employee’s behalf, are prohibited from participating in the acquisition of surplus property.

 

How do I dispose of unwanted equipment?
To dispose of institutional equipment, it must be declared as surplus or unusable property and the disposal must be approved by the State Board of Examiners. This is accomplished by submitting the State Property Disposal Authorization Request form to the Purchasing Department for processing.

 

How do I transfer equipment to another department on campus?
An e-mail to Bev Hill in the Controller’s Office with the tag number, description of the fixed asset, and the new location is sufficient for an inter-campus equipment transfer.

 

How do I receive an inventory report for our department?
To request a list of fixed assets within a department or building, contact Bev Hill at ext 2206.

 

Do we have any ‘Property of’ inventory stickers?
Yes, contact Maria Johnston at ext 2327 if you have equipment that is less than $2,000 and you would like a Property of LCSC sticker to place on the fixed asset. Assets displaying a Property of sticker are not specifically identified in the accounting system but theft may be discouraged for certain vulnerable assets by attaching this sticker.