Campus-wide inventory of capital equipment is underway

Over the next couple months, the UW-Madison is undertaking a campus-wide physical inventory of equipment. This is an important university accountability measure related to the use of federal grant money and also is in preparation for the annual audit by the Legislative Audit Bureau. Over the past four years, UW-Madison has been cited by the LAB for having insufficient controls and management of capital equipment inventories. LAB auditors randomly select a sample of federally-funded capital equipment. A significant share of  equipment on campus has not been appropriately tagged, tracked, and reported. The UW-Madison has engaged a third-party vendor, HCA Asset Management, to oversee an intensive, short-term physical inventory to ensure compliance.  HCA Asset Management will complete its work on campus by January 31, 2014. Here’s the scheme for the audit:

  • Building “Blitz” 1st – cover all space logging visible assets. Typically working with Bldg. Managers for access.
  • Coordinate access for all sensitive areas (Vivarium’s, NMR, Server Rooms, etc.)
  • Distribute list of Remaining Assets to departments.
  • Departments take time to review, locate assets, and notate assets disposed, returned, lost, stolen etc.
  • Meet with departments to reconcile missing items.

More information is available in this presentation from the kickoff meeting. Initial meetings with HCA Asset Management are taking place now. Individual units will hear from them shortly to establish the schedule for your area. Please help ensure the availability of appropriate staff so these meetings can take place in a timely manner.