To:

From: Albert M. Smith

Manager, Plant Fund Accounting/Inventory Control

Re: FY99 Physical Inventory

On ____ the Inventory Control section of the Accounting Office took a complete physical inventory of all capital equipment assigned to ______. At that time _____ had ___ items valued at $_____ recorded on the University’s inventory records. Our review found the following deficiencies.

_ items valued at _____ representing __% of the total equipment and __% of the value were missing. These items are listed below.

 Tag #        Description               Cost

Please notify the Accounting office with the location of this equipment or provide sufficient documentation to have this equipment removed from our inventory records no later than_____.

Different Locations

__ items representing __% of the total inventory were not found in the assigned locations.

UMBC                                Assigned       Location
 Tag #        Description           Location        Found 

Whenever equipment is relocated within the department, a UMBC Room Number Change form must be submitted to the Accounting Office. Please submit a Room Number Change form to the Accounting Office no later that _______ to reflect the actual location of these items.

_ items were transferred to other departments without the proper documentation on file in the Accounting Office.

 Tag #             Description

Please submit a UMBC Inventory Adjustment Form to the Accounting Office no later than ___ to reflect these transfers.

Should you have any questions concerning this matter, please contact me on extension #3044.

Thank you in advance for your cooperation in this matter.