Inventory Control
The equipment, buildings, and parking areas supporting LFCC operations are state property that must be recorded, tracked, and disposed of in accordance with Commonwealth Accounting Policies and Procedures Manual, function 30000, Fixed Assets and Lease Accounting. Compliance with these regulations ensures proper asset management and financial reporting of LFCC's fixed assets.
LFCC uses the Fixed Assets Tracking System (FATS) for taking an annual inventory using scanning technology. Applicable information in this system is reconciled to asset information maintained in the state system using AIS asset management functionality.
To surplus equipment other than information technology equipment, employees should complete the Request to Surplus or Dispose of LFCC Property (Furniture/Other) following the instructions on the form.
To surplus information technology equipment, employees should put in a work order and the Technology Services staff will fill out the Request to Surplus or Dispose of LFCC Property (Technology Services) form.
To borrow equipment or transfer equipment, employees should contact the budget and finance director or the purchasing officer.