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Property Inventory

Annual Physical Inventory

State law requires all state agencies to conduct an annual physical inventory of equipment. A fixed asset listing of capital equipment is assigned to your school/department (equipment, furniture and vehicles with an acquisition cost of $5,000.00 or more) and controlled assets (other property which due to the nature of the asset is required by the state to be managed, such as computers, printers, fax machines, cameras, etc. above $500.00). The annual physical inventory is usually due at the end of the 2nd quarter of the calendar year.

NOTE: Due to the minimum acquisition cost of state property being raised from $1,000 to $5,000 in FY03, some state property will have Texas Tech tag numbers on it which no longer are on the fixed asset listing. If you want to dispose of equipment at the time you do the annual physical inventory, check your departments fixed asset listing online to determine the correct form to use. For example, if you are disposing of equipment that has a tag but is not on your fixed asset listing, the form to use is Attachment H (Items not Carried on Departmental Inventory); when the equipment is tagged and on the departments fixed asset listing, the form to use is Attachment A (Broken, Obsolete, Unserviceable, or Surplus Property). New equipment that is not yet tagged and known to be $5,000.00 and over or is a controlled asset, such as computer, printer, camera, etc., and $500.00 and over, will need to be added to the annual physical inventory fixed asset listing.

The property custodian of each department is responsible for conducting the annual physical inventory. The certification can be completed online Here. All equipment must be accounted for and the condition noted. Departments must perform an extensive search for any equipment before reporting an item as missing. only the Property Custodian is authorized to approve the completed physical inventory. The safekeeping of property assigned to the department is the responsibility of the Property Custodian.


Account for all of the equipment listed on the printout, and indicate the condition of the equipment (N for new, G for good, F for fair, and P for poor). If there are items on your departmental listing that have been transferred to another department, complete and return the Request to Transfer Property Between Departments form (HSC OP 63.10, Attachment E). If there are items that cannot be located, complete and return the appropriate form to delete the items from your listing (HSC OP 63.10, Attachment A Request for Authority to Remove Property From Departmental Inventory or Attachment B Request to Delete Property Which Cannot Be Located as a Result of Theft or Loss). Perform an extensive search for any equipment before reporting the items as missing. Keep a copy of your completed inventory for your files. Submit original paperwork to the Facilities, Operations & Maintenance department.

 IMPORTANT: Relocation of state property can be done online. Transfer of state property forms are to be filled out and submitted at the time there is ANY CHANGE in equipment location (not just at the time of the annual physical inventory). Any piece of tagged equipment should be able to be found quickly simply by referring to the departments fixed asset listing, which is continually updated from such completed forms.  Submit original paperwork of transfer form to Facilities, Operations & Maintenance department.

Tagging New Equipment

The Facilities, Operations & Maintenance department receives paperwork for all state property that is required to be tagged. When this state property is tagged, the original paperwork is returned to Property Inventory at TTUHSC at Lubbock, a copy is kept in Facilities Office and a copy is sent to the departments Designated Property Inventory Personnel.

Temporary Use of Property Authorization Form

When any state property is taken off TTUHSC at the Permian Basin, a Temporary Use of Property Authorization Form needs to be completed. Each department / school is responsible for ensuring this form is on file.

The original, completed form for any tagged equipment is to be forwarded to the Facilities Office. The Facilities Office will keep on record a copy, forward a copy to the TTUHSC at the Permian Basin Police, and send the original form to Business Services at the TTUHSC at Lubbock.

For state property that is not tagged, the original form can be kept on file in the department / school and a copy forwarded to Permian Basin HSC Police.

Audio Visual equipment that is taken off the TTUHSC at the Permian Basin requires approval from the Information Technology department and / or School of Medicine Administration Office, prior to scheduling date, time, and place and completing the form.

The department using state property is responsible for damage to any equipment used, on or off campus.


All disposal of State property is managed by the Facilities, Operations & Maintenance department. Broken, obsolete, unserviceable, or surplus property requires the department to submit Attachment A of HSC OP 63.10., which is to be used for all tagged state property. Attachment H is a form that requests the pick up of any surplus property of items not carried on department inventory not tagged. It is the responsibility of the Surplus Property Manager to determine what equipment, no matter how small, is to be disposed of not the department. See Surplus Property for detailed guidelines regarding the disposal of State Property for TTUHSC at the Permian Basin.


For updated Property Inventory forms, go to Operating Policies and Procedures (Numerical 63.10)

Attachments A-L of HSC OP 63.10 are all the forms needed to delete, transfer, relocate, report missing property, surplus state property, etc. Forward the completed forms to the Facilities, Operations & Maintenance department. Keep a copy for your records.

For help or questions regarding disposal of state property contact:

Kendra Lewis
432-335-5281 fax