The university launched the asset tagging and inventory process of moveable capitalized (unit cost of $5,000 or greater) equipment in January 2019. RFID tags versus barcode tags are used where possible which will establish efficiencies with inventories in the future. This was in response to the Facilities and Administrative cost recovery rate negotiations that the university implement a more effective solution to monitor assets. We recognize the importance of safeguarding assets and have implemented enhanced control procedures. In addition this will provide a clean baseline to integrate with Workday.
The university has partnered with HCA Asset Management, LLC to complete the inventory and asset tagging.