The university’s equipment accounting system is designed to identify, record, control and maintain an inventory of the university’s equipment assets with an acquisition cost of $5,000 or more per unit that has a useful life of more than one year.
The University’s space accounting system is designed to identify record, control and maintain an inventory of the University’s property assets. The dimensions and use of each room are entered into a computerized master file. This information is revised as necessitated by renovations, alterations, or changes in room use. Changes are designated through annual departmental reviews on the Homewood Campus, quarterly reviews at the East Baltimore Campus and periodic walk-throughs.
The space inventory is used to:
- Provide management information to departments and various areas of University Administration
- Promote control of and accountability for space assignments and utilization
- Determine adequate insurance coverages
- Calculate space charges
- Calculate indirect cost recovery rates
- Monitor leased space
Periodically, a computerized listing of the space inventory is sent to departments for verification and correction. Homewood inventories are distributed annually; East Baltimore inventories are distributed quarterly. When necessary, on-site visits are made to departments to determine if the current space measurements for the departments are accurate. Departments may request copies of space inventory lists at any time.K
Director of Project Management