Update on Equipment Inventory With Asset Services
Since my last message on January 24, 2022, the team has taken a moment to regroup regarding the physical equipment inventory to minimize disruption to departments and increase efficiency of the overall inventory process. As mentioned previously, the inventory is a required component of the Facilities and Administrative (F&A) rate proposal FY’22 base year activities.
In preparation for the asset verification, an individual survey will be sent to each fixed asset custodian on Monday, February 21, 2022, with a link to identify dispositions and/or confirm equipment. The email will be sent from DrexelInv@AssetServices.com. Drexel IT has added this email address to the safe senders list, but if you are receiving this notice and do not receive an email from DrexelInv@AssetServices.com on Monday, please check your junk mail folder.
Once survey responses have been received, the physical verification process will commence. We anticipate late February/early March to recommence with the physical verification process.
Asset Services will be reaching out to custodians to coordinate timing. I will also communicate new information as I have it and will be updating the website to describe the new process. The previous timeline that was posted and sent out is no longer relevant and should be disregarded.
The team from Asset Services has been vaccinated for COVID-19 and will adhere to the University's COVID-19 protocols during the inventory.
General Accounting will utilize the data collected by Asset Services as the annual fixed asset confirmation. The Fixed Asset Confirmation tool will be available and updated with as much of the data updates from Asset Services as possible in July 2022, but confirming assets utilizing the Fixed Asset Confirmation Tool will be optional during the fiscal year-end close.
If you have any questions or concerns regarding the upcoming survey and physical equipment inventory, please do not hesitate to contact me pjr27@drexel.edu. Thank you for your cooperation.