Inventory Services Begins Spot Audits

Beginning April 2009, Inventory Services will conduct bimonthly spot audits of randomly selected sets of inventory items. The inventory contacts and University Business Officers Council (UBOC) members listed for the unit codes being audited will be sent e-mail notifications that their units have been selected along with scheduling instructions.

These audits are being conducted due to recent audit recommendations from the Office of Naval Research (ONR) and the A-133 Federal Audit.

As stated in the Handbook of Business Procedures 16.5.5, Inventory Control and Property Management, Inventory Services will audit items to ensure the accuracy of the:

• inventory number
• description
• model number
• serial number
• condition
• location

In addition, if a federally owned item is selected, it will be verified that the appropriate federal tags are affixed to the item. If any federal items selected in the audit are no longer in use or the accountable projects have expired, disposition must be requested immediately by the departments to comply with FAR and OMB Circular A-110 requirements.

If you have any questions, contact Inventory Services at 512-471-3838 or oa.inventory@austin.utexas.edu.