During the past 2 years, the Controller’s Office has been reviewing processes to reduce operational costs. As a result, we have contracted with HCA Asset Management to conduct the physical inventory of Capital Equipment.
Federal regulations require the University to inventory all equipment assets within a 2 year period. Since fiscal year 2017 is the initial year for HCA to conduct the audit, they will be completing a full 2 year cycle during fiscal year 2017. The inventory process will start on October 3, 2016 with an estimated completion date of December 31, 2016.
The Controller’s Office is currently working with HCA on a schedule of locations. Once the schedule is finalized, departmental contacts will be notified of the dates they can expect HCA to be in your area.
While the first year of any new process always has little bumps and hiccups, our expectation is that departments will not see any additional burden from this process and will hopefully see a quicker inventory process in their area.
Kurt Kleppe, Inventory Liaison, will be working with HCA and academic departments to ensure the inventory is efficient and will be available to provide assistance to both HCA and University departments.
If you have any questions, concerns or feedback, either before or during the inventory process, please contact Kurt Kleppe <kleppe002@umn.edu>, Scott Eggert <egger006@umn.edu> or Sherrie Kutzler<kutzl013@umn.edu>.
