603 - Equipment Inventory and Reporting Policy


University of North Carolina at Chapel Hill Finance Policy 603 - Policy on Equipment Inventory and Reporting



An annual physical inventory of Capitalized Equipment, costing $5,000 or more, is important to maintain accurate records and to identify Capitalized Equipment that is misplaced, lost, or damaged.

Scope of Applicability

This Policy applies to all employees of the University of North Carolina at Chapel Hill ("UNC-Chapel Hill" or "University") .


Policy Statement

Capitalized Equipment, as defined in Finance Policy 601 - Policy on Capital Assets, must be identified with a numbered UNC-Chapel Hill decal/bar code (tag number). Detailed records of Capitalized Equipment exist within the decal/bar code system. System reports prepared from detailed Capitalized Equipment records provide annual Capitalized Equipment inventory reports as well as inventory reports available on demand. Departments are required to report Capitalized Equipment location changes, trade-in, transfer (Internal & External), surplus, stolen and missing Capitalized Equipment to Capital Assets, as well as affix decal/bar code labels to Capitalized Equipment, as requested.

Frequently Asked Questions

Q: My department wishes to purchase a new sorter for a copier that already has a decal. The sorter costs more than $5,000. Does the sorter need a new decal?
A: The sorter would be considered an addition to the existing copier, and the value of the sorter would be added to the copier decal asset record. The departmental requisition for the sorter should reference the current copier decal.

Q: My department needs an additional lens for a microscope with a decal number. The lens purchase price is $4,500. Is this an addition to the microscope?
A: No, this lens would be considered a supply item.

Q: My department wants a list of Capitalized Equipment for a certain building. Can I request that kind of report?
A: Yes, Capitalized Equipment reports can be sorted in a variety of ways. Email Asset Management on Assets_Team@unc.edu for your request.

Q: My department cannot locate a piece of Capitalized Equipment since our last physical inventory. What do we do?
A: Follow Finance Procedure 603.2 as a guide to the various departments to notify. Asset Management requires a Finance Form 603.5.1f - Capital Equipment Relocation Form.

Q: I have Capitalized Equipment with a Computer Repair Center Tag. Does this mean it is on my Capitalized Equipment inventory?
A: No, Asset Management's silver and blue tags say clearly "Property of UNC-CH" with a bar code and decal number.  

Q: My department is being relocated due to construction or renovation. Should I contact Asset Management?
A: If the temporary move is expected to last three months or more, Asset Management should be notified. Request a report from Asset Management and note the Capitalized Equipment assets that are changing location. Submit this report with notations to Asset Management. It is not necessary to submit a Finance Form 603.5.1f - Capital Equipment Relocation Form with the report.

Q: Capitalized Equipment became defective while under warranty. How should we proceed with this?
A: If a Capitalized Equipment item(s) assigned an UNC-Chapel Hill decal/bar code (tag number) becomes defective while under warranty and the item is replaced by the vendor/manufacturer, the Asset Management Office will need to be contacted on Assets_Team@unc.edu. Provide the following information for the Capitalized Equipment that was replaced:

  • decal/bar code (tag number),
  • item description, and
  • the serial number.

Attach any Return Merchandise Authorization (RMA) forms from the supplier to University form. Asset Management will provide the new/replacement Capitalized Equipment with a duplicate UNC-Chapel Hill tag and update the inventory record in Connect Carolina.


Related Requirements

External Regulations and Consequences

University Policies, Standards, and Procedures

Contact Information

Policy Contact

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Article ID: 131672
Thu 4/8/21 9:14 PM
Mon 4/17/23 1:15 PM
Responsible Unit
School, Department, or other organizational unit issuing this document.
Finance and Budget
Issuing Officer
Name of the document Issuing Officer. This is the individual whose organizational authority covers the policy scope and who is primarily responsible for the policy.
Issuing Officer Title
Title of the person who is primarily responsible for issuing this policy.
Director, eProcurement and Materials Management
Next Review
Date on which the next document review is due.
04/17/2025 12:00 AM
Last Review
Date on which the most recent document review was completed.
04/17/2023 12:00 AM
Last Revised
Date on which the most recent changes to this document were approved.
03/15/2023 12:00 AM
Effective Date
If the date on which this document became/becomes enforceable differs from the Origination or Last Revision, this attribute reflects the date on which it is/was enforcable.
10/06/2014 12:00 AM
Date on which the original version of this document was first made official.
12/14/2007 12:00 AM