April 1, 2025, begins the next biennial cycle for the physical inventory process. Department Finance Administrators and their Equipment Custodians should review the updated 2025-2027 Physical Inventory Custodian Schedule on the Controller’s Office website.
The Biennial Physical Inventory is an internal control necessary for compliance with our sponsors, including federal agencies. Departments should expect to dedicate resources to conduct a physical verification of all inventory equipment assigned to their custody.
Additional Equipment Management policy and procedures are available on the Controller's Office website. You should also review all pertinent policies, including BUS-29: Management and Control of University Equipment (opens in new window) , and if appropriate, policies and guidelines for the funding agency.
If you have questions regarding the biennial physical inventory process, email [email protected].