Policies & Procedures Manual - Elizabeth City State University

400.1.61Departmental Head's ResponseThe Department Head or designated departmental representative will submit a status report to theFixed Assets Officer at the end of the 90 day period enumerating efforts to locate the "missing "asset.The Fixed Assets Officer will update the fixed assets files when missing equipment is located.The Fixed Assets Officer will monitor the progress of the department's investigation bycomparing the status reports.If the items in question are still missing after the 90 day period, the Fixed Assets Officer willsubmit a report to the Internal Auditor and the appropriate Vice Chancellor. The Vice Chancellorwill be requested to respond within a ninety (90) day time frame.After 180 days, if the items are still considered missing, a second report will be submitted to theUniversity's Internal Auditor and the appropriate Vice Chancellor. The Vice Chancellor will berequested to respond within a 60 day time frame.Police ActionIf the assets are still missing after the 180 day status report, Campus Police will be called in toInvestigate the missing items. The Internal Auditor, the Fixed Assets Officer, and Campus Policewill review and investigate possible misconduct. Formal police action or University disciplinaryaction will be taken when appropriate.Removal of Assets from the BooksAssets that are not located in one (1) year from the annual inventory, and are still on themissing status report will be removed from the Fixed Assets Account (Financial RecordsSystem) and the Fixed Assets System (Inventory Records) at the end of the next fiscal year.Justification for missing assets must be provided by the responsible department head and thisinformation will be kept on file in the Fixed Assets Office.