Presentation on theme: "Inventory Control Panel Discussion Jamie Wheat, BFS/GA/Equipment Management Wednesday, March 26, 2014."— Presentation transcript:
Inventory Control Panel Discussion Jamie Wheat, BFS/GA/Equipment Management Wednesday, 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. Image Goes Here
PRESENTATION TITLE HERE 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, 2014Source: BFS Internal Controls Workshop Internal Controls: Internal controls are the processes employed to help ensure that the Universitys 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:
Acquisitio n Receipt Records Physical Inventory Sub-recipient Control Reports Relief of Stewardship responsibility Utilization Maintenance Property Closeout 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 principles of internal controls published by the Committee of Sponsoring Organizations (COSO) of the Treadway Commission (UC Standards of Ethical Conduct).