Inventory Control of Office and Educational Equipment and Furniture


The policies and procedures herein apply to all George Mason University employees, departments, offices and organizations who are entrusted with university-controlled equipment, regardless of the source of funding or location of equipment. The day-to-day stewardship, year-round maintenance of the university’s equipment database, and periodic inventory process are outlined in this policy.


As an agency of the Commonwealth of Virginia, George Mason University (Mason) has an inherent obligation to exercise appropriate stewardship and accountability for all equipment in its possession. This policy applies to all acquired equipment (purchased, leased, fabricated, borrowed, donated, etc.) regardless of the source of funding (educational and general funds, sponsored program funds, George Mason University Foundation, Equipment Trust Fund, etc.).


A. Deans, Directors, Vice Presidents and Department Managers are responsible for:

(1) Following proper procedures for the procurement, transfer and disposal of all equipment within their area of responsibility.

(2) Safeguarding and controlling all equipment in their area of responsibility, maintaining internal policies and procedures as deemed necessary to supplement this policy.

(3) Assigning departmental equipment liaisons/custodians, ensuring they possess the necessary skills and obtain appropriate training required to perform their duties.

(4) Ensuring a proper physical inventory, in accordance with university procedures, is performed on an annual basis.

(5) Taking reasonable steps to protect equipment/property from damage, reporting the loss/damage promptly to Police and the Office of Risk Management, and cooperating in the investigation and settlement of the claim by providing proof of loss documentation and allowing for inspection and appraisal of damaged items prior to repair or replacement (general duties after a loss/damage).

B. Equipment Liaisons are responsible for:

(1) Managing the unit’s equipment and acting as the point of contact for Fixed Assets, University Police and Risk Management offices.

(2) Conducting a periodic inventory of the unit’s equipment

(3) Promptly reporting status changes and discrepancies (acquisition, transfer between departments, disposition, cannibalization, destruction, loss, theft, etc.) of centrally recorded (i.e., barcoded) equipment to the responsible office(s) as soon as possible (within 30 days of activity).

C. Fixed Assets are responsible for ensuring that central equipment records are properly maintained, assisting the Equipment Liaison(s) with periodic inventories, and providing training to department staff.

D. University Police or Local Police Authority are responsible for investigating possible theft, mysterious disappearance, damage, etc. of university equipment.

E. The Risk Management Office is responsible for investigating and processing insurance claims for lost, stolen, missing, damaged, or destroyed university equipment due to an accident or unexpected event such as fire, lightning, power failure, explosion, wind, hail, water, theft or vandalism. The university’s insurance policy is subject to a “per occurrence” deductible and excludes coverage for employee dishonesty, unexplained (mysterious) disappearances, losses and shortages disclosed when taking inventories, normal wear and tear, deterioration, rust, corrosion, faulty design, material, workmanship and latent defect.


The policies herein are effective July 1, 1999. This Administrative Policy shall be reviewed and revised, if necessary, annually to become effective at the beginning of the University’s fiscal year, unless otherwise noted.


Carol D. Kissal
Senior Vice President, Administration and Finance

Mark R. Ginsberg
Provost and Executive Vice President

Approved: May 24, 2004
Revised: January 9, 2013
Revised: August 28, 2018
Revised: May 18, 2021