UCAR PROPERTY MANUAL

Property Homepage Manual TOC 3--Guidance 4--Contacts 5--DPA Responsibilities
6--Meeting Notes 7--Responsible Person Duties 8--Sensitive Property 9--Capitalization Guidelines

Section 3-5: Physical Inventories and Responsible Person Updates

To ensure the security and utilization of assets and the accuracy of FADB records, UCAR conducts a 100% physical inventory of UCAR-accountable assets at least every two years, in accordance with OMB A-110. This is performed as a perpetual inventory and is executed at the division level, with each cycle of the perpetual inventory being completed within the two year time frame.

In addition, a desktop review of active assets is performed by Responsible Persons twice yearly and returned to the Property Office. This is to verify that the location information in the UCAR FADB is current.

100% Physical Inventory

The UCAR Property Office initiates the physical inventory by working with the DPA to schedule their inventory. Each division inventory must begin not more than one year nine months after their last inventory to allow time for completion before the two year deadline.

The division's assets are downloaded from the FADB to a scanner and a list of those assets is formatted to allow for manual inventory initials and date if an item is not scannable. For scanned inventory items, the inventory date is recorded by the scanner.

The inventory process includes verifying

• property tag number,
• description,
• model number, and
• serial number

on the physical asset as well as confirming that each asset is

• in a secure location (not prone to loss or theft),
• in use, or pending future use, and
• still needed to perform division research.

The Property Office reconciles the inventory data to the original list and if 100% of division assets were inventoried, the division inventory is finished.

Periodically, fixed assets are located offsite.  This includes non-UCAR sites, field projects, and assets on loan.  In this situation, in order to properly inventory these assets, the Property Office sends an e-mail request to the off-site contact.  The e-mail requests verification of the fixed asset serial number and PPE tag # as documentation that said item was properly inventoried. If a photograph of the item is provided, it also becomes part of the inventory record.

When items are not inventoried (either on-site or off-site), the Property Office works with the division to resolve the discrepancy immediately.  Within two working days the Property Office with assistance from the DPA, initiates a full investigation through interviews with applicable division staff into any discrepancies noted.  The asset location will be retraced through inventory and responsible person update documents to determine a chronological history of the item.

For agreements subject to FAR 52.245-1(f)(iv), upon completion of the periodic inventory, UCAR will notify the cognizant government property administrator by e-mail.

Responsible Person Update

Twice each year, a Responsible Person Update is performed by all those assigned responsibility for assets by their division. A Responsible Person Update form, listing all of their active assets, is generated from the FADB by the Property Office and distributed to each Responsible Person. In addition, each DPA is sent a set of the forms issued to their division so they can track responses. Upon receipt, the Responsible Person

• reviews the form,
• writes in any corrections or updates,
• signs to verify it has been reviewed and updated, and
• returns her/his form(s) to the DPA.

The DPA tracks return of the forms and ensures all forms from the division are completed and returned to the Property Office by the end of the month in which they were issued.

The Property Office verifies that the FADB record information matches the edits on the returned forms. If not, the FADB records are updated accordingly.

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