Financial Management
Policy Number 30941: Receiving
Goods and Services
1.0
Purpose
The purpose of this policy is
to ensure that materials, supplies, equipment, and services authorized for
payment are received in acceptable condition and are processed and recorded
appropriately.
2.0
Policy
Departments are responsible for
promptly checking received goods to make sure the right items were delivered in
the agreed upon quantity and that they are not damaged or defective. Receiving is required for all goods and services
purchased with college funds, regardless of purchasing/payment methods.
2.1 Receiving Equipment
2.1.1 IT Equipment
When equipment is ordered, a copy of the
Purchase Order will be placed on the S:\public\technical services\purchase
orders folder.
If an item was purchased from the Equipment
Trust Funds (ETF) account, then in the header of the order it will be entered
as ETF 110070. These purchases must be
kept in working order for five years.
When a shipment of equipment arrives for
IT, pull the packing slip upon receipt. If no packing slips are included with the equipment, then print out
a copy of the Purchase Order (DO) or (PCO) from the S:\public\technical
services\purchase orders folder.
The following information must be on each
packing slip or Purchase Order:
·
Model and Serial Numbers for each piece of
equipment
·
Signature and Date of the person receiving the
shipment in IT
·
Room Location (if you plan to place the equipment
in a particular room then the room number needs to be on the slip. If not it will be entered at Warehouse).
Make a copy of this form for IT and
Accounts Payable and send the original to the Fixed Asset Coordinator within
three days after receipt of the equipment.
The Fixed Asset Coordinator will send IT
asset tags for the equipment within five days.
If the item is above $2,000 a burgundy tag will be assigned. If the item is under $2,000 a blue tag will
be assigned.
If the item is an ETF purchase, a burgundy
tag will be assigned regardless of the cost of the item. This will also be recorded in the IT database
as an ETF item.
For all ETF items, a tag listing the year
that the item can be disposed of will also be sent to IT to be attached at the
same time as the asset tag.
2.1.2 Other Fixed Assets
Other items that meet the $2,000 threshold
for fixed assets will be handled in a similar manner. When a shipment of equipment arrives, pull
the packing slip upon receipt. If no packing slips are included with the purchase then print out a
copy of the Purchase Order (DO) or (PCO) from the eVA
website.
The following information must be on each
packing slip or Purchase Order:
·
Model and Serial Numbers for each piece of
equipment
·
Signature and Date of the person receiving the
shipment
·
Room Location
The Fixed Asset Coordinator
will tag the asset within five days of receipt of the item. If the item is
above $2,000 a burgundy tag will be assigned.
If the item is under $2,000 a blue tag will be assigned.
2.1.3
Other
Items Received
Departments must sign and
record the date of receipt on the receiving document and forward the receiving
document to Accounts Payable. If
receiving slip is missing departments must make a copy of the Purchase Order or
record the information on paper and forward that to Accounts Payable.
2.1.4
Invoices
Departments are also responsible
for checking the invoice against the Purchase Order for consistency of price
and quantity of items. Any discrepancies
should be settled between the vendor and the department receiving the
goods. Do not authorize payment of the
invoice if it is incorrect.
3.0
References
4.0
Point of
Contact
Jane Krakowsky
Business Manager
5.0
Approval
and Revision Dates
Reviewed and Approved by: Jane D. Krakowsky
Reviewed and Approved
by: President’s Council