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Maintaining Your Sanity While Maintaining Your Fixed Assets

Gordon Oyer . DirectorUniversity PropertyAccounting

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Maintaining Your Sanity While Maintaining Your Fixed Assets

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    1. Maintaining Your Sanity While Maintaining Your Fixed Assets

    2. Gordon Oyer Director University Property Accounting & Reporting 217/244-1380 goyer@uillinois.edu 2

    3. What Drives Property Accounting? Internal Control Over University of Illinois Resources Timely and accurate recording of what we acquire Marking it as ours Knowing/recording where it is Disposing of it legally 3

    4. What Drives Property Accounting? University Policy Business and Financial Policies and Procedures Section 12: http://www.obfs.uillinois.edu/manual/index.html#s12 Specified Unit Head Responsibilities [12.1]: Custodianship responsibility Physical security Tagging Physical inventory Reporting acquisitions, changes, disposals Obtaining approval prior to disposal

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