Annual Minor Equipment Inventory Procedures

The minor equipment inventory procedures have changed for fiscal year 2022. 

Department Inventory Contacts

The CBO or financial lead in your area will contact you regarding minor equipment inventory.  Please review the attributes of minor equipment inventory.

• If the minor equipment inventory contact changes for the department, please notify the CBO or financial lead in that area. 
• If the department is unsure who the CBO or financial lead is in their area, please contact UND.assetmanagement@UND.edu.

Department CBO or Financial Lead

Follow the minor equipment inventory process listed below.

Minor Inventory Requirement

NDCC 44-04-07 requires each department to maintain "a complete and current inventory record of all property of sufficient value and permanence as to render such inventory record practical."  NDUS requires departments to perform an annual physical inventory of minor equipment that is particularly at risk or vulnerable to loss.

For insurance purposes, if a department does not maintain a minor equipment inventory spreadsheet, the department risks insurance coverage for any loss. It is the responsibility of each department to keep an accurate and comprehensive minor equipment inventory spreadsheet to track minor equipment.

For further information, please review the Annual Inventory policy.

Annual Minor Inventory Process

The CBO or financial lead in each area is responsible for making the determination of minor equipment inventory that is risky or vulnerable to loss as well as annually facilitating an inventory of that minor equipment.  The CBO or financial lead is also responsible for reporting minor equipment inventory values by building to asset management once per year.

1. CBO or financial lead receives a notice to complete an annual minor equipment inventory.
   • The notice includes the department numbers that reported minor equipment inventory in the previous year.
   • The notice includes a preformatted template of building names where minor inventory was reported for the departments listed on the notice in the previous year.
2. CBO or financial lead works with department inventory contacts to complete the minor equipment inventory (see steps 4 and 5). Minor equipment inventory contacts are maintained by the CBO or financial lead.
   • The process that the CBO or financial lead uses to obtain minor inventory values by building from the department inventory contacts reporting to them is the responsibility of each CBO or financial lead.
   • The process that the CBO or financial lead uses to perform an annual inventory of risky or vulnerable to loss minor equipment is the responsibility of each CBO or financial lead.
   • CBO or financial lead is responsible for maintaining any detail or spreadsheets supporting the minor equipment by building.
3. Complete an inventory of “Risky” or “Vulnerable to Loss” minor equipment.
   • CBO or financial lead is responsible for determining by area what minor equipment is risky or vulnerable to loss.
   • NDUS requires an annual inventory of minor equipment that is risky or vulnerable to loss.  These items would be listed in the department maintained backup and inventoried annually by the department. The department would likely choose to label these items with a minor inventory tag.
4. Complete the template received in the notice from Asset Management with the dollar value of minor equipment inventory by building for the departments reporting.
5. CBO or financial lead submits to Asset Management (UND.assetmanagement@UND.edu) the completed template received from Asset Management in Step 1 above.

CBOs and financial leads: please review the step-by-step guide detailing the above process.  Please also be familiar with the minor equipment process.