Inventory Records Maintenance and Retention
Each Location Supervisor should, in coordination with the AIS Cost Center Coordinator:
- Designate a person (in writing) to be responsible for maintaining and retaining the Location Code(s) inventory records for fixed assets and send the name of the person to the AIS Coordinator for routing to AM.
Maintain, at a minimum, the following records consistent with the Records Retention Schedule:
- Fixed assets inventory records until the next comparable “physical” or “computer verification” inventory is completed.
- Certificate of Completion for the annual inventory reconciliation for fixed assets until the next Certificate is issued.
- Equipment Receipts Pending File until the inventory item has been tagged, and computer entries updated as required by the AM Manual.
- Transfer Pending File.
- Disposal Pending File. Inventory code status will be changed to Asset Type, “Disposed” by AM.
- Outstanding Loan File.
AM is to:
- Retain all inventory documents from the field for the current year and the previous year for the period of time specified in the Records Retention Schedule, whichever is longer.
Maintain a statistical database of inventory information for determining trends, progress in performance, and areas of control in need of improvement.