• Inventory Name
• Original reconciliation due date
• Requested extension period
• Reason for extension

The PSR provides guidance to the DPA in prioritizing the reconciliation process and defining acceptable documentation, as needed. The DPA is responsible for providing final resolution to each noted discrepancy. All property on record must be accounted for. Items found during the physical inventory period that were not on record are considered to be potential “adds” and must be resolved during the 30 day reconciliation period. Each asset verified has an inventory posting reflected on the property record.

Every effort must be made to locate items not found during the initial sweep. For areas having sponsor-owned property, the Principal Investigator should provide support and assist in communicating the need to locate or otherwise account for the missing items. Items located by the DPA or department staff must be scanned or physically verified by the Physical Inventory Group. Appointments can be scheduled by calling ext. 3-9004. For items not found or accounted for during the reconciliation period, the PI must provide a written confirmation to the PMO of the efforts made to locate the assets and the potential circumstances leading to the items being missing.

Inventory results for all sponsor-owned property is reported to the sponsoring agency by the PMO within 30 days of completing the reconciliation for the inventory in accordance with the appropriate sponsor/government regulations. This information is reported on an award-by-award basis and will also including details on any sponsor-owned property not found during a biennial or special inventory. (See details in the Disposal Chapter) The records are adjusted in accordance with the instructions provided by the sponsor. If in the future the item is located, the DPA must inform the PMO to reinstate the record and notify the sponsor.

At the completion of the biennial inventory cycle, the PMO assigns each item of Stanford-owned property not located a resolution of “missing during XX biennial inventory” in the Sunflower record. The activity status is “inactive”; however, they are not “retired” in either the Sunflower record or Oracle Fixed Assets unless not found during two consecutive biennial inventory cycles. Stanford-owned assets retired as a result of not being found during physical inventories and subsequently found are reviewed for potential reactivation; sponsor-owned assets are reactivated and the sponsor notified.