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Physical Equipment Inventory and Annual Fixed Asset Confirmations

May 11, 2017

As previously communicated on April 17, 2017, the University has engaged Duff and Phelps (formerly American Appraisal) to inventory equipment in 12 buildings that have significant research activity. Duff and Phelps has been on campus since May 1, completing this inventory for the Facilities and Administrative rate proposal.  The list of buildings and the estimated dates that Duff and Phelps will complete the inventory are posted on our website. 

Since the University is completing a physical inventory of a significant portion of its buildings this year, the annual fixed asset confirmation process will be optional.  We have refreshed the data in the Fixed Asset Confirmation Tool that was used in FY 6 for anyone who wishes to make updates to their assets and inform General Accounting of disposed assets for write-off in FY17.  We recommend that anyone who has assets in a building that is not being inventoried by Duff and Phelps complete their updates by Friday, July 28, 2017.  It is important to note that the Fixed Asset Confirmation tool is available to only those who have been appointed custodians or are financial managers of an org in Banner.  If you have any concerns about access to the tool, please contact me directly.  A list of frequently asked questions about the Fixed Asset Confirmation Tool has been posted to our website.

If you have any questions or concerns regarding the upcoming equipment inventory, please do not hesitate to contact me at 215.571.4478 or by email at russop@drexel.edu.