Equipment Management: Where is your stuff?

Where is your stuff?

Equipment and Real Property Management (Finding Code F) accounts for ~45,000 findings.

The Problem

Organizations buy equipment with grant funds and then lose track of it. They forget to tag it, or they don't perform the required physical inventory.

The Rules

1. Tag It: If it's bought with federal funds, put a tag on it immediately.
2. Inventory: You must perform a physical inventory at least once every two years and reconcile the results with your property records.
3. Disposition: You can't just throw it away when you're done. There are specific rules for disposing of federally-funded equipment.