Annual Audit

Each year in October, The Office of Plant Funds Accounting will send out a capital asset audit form to any department which has purchased capital assets. An internal audit of all capital assets will need to be completed by a representative of the department and returned to Plant Funds on or before January 31 of the following year.

These audits will allow departments to confirm that all of the capital assets that have been purchased and or transferred to the department are still accountable. This audit is very important to maintain a registry of all of the University's capital assets.

Each year selected departments will receive a physical audit of all capital assets by a Plant Fund's representative. The selected departments will be contacted by the Plant Fund's representative prior to the audit.

As involved as this process may appear, it is essential to maintaining an accurate and current registration of movable capital assets.