The purpose of the TMCC property inventory control system is to serve the interests of the State of Nevada, Board of Regents and Truckee Meadows Community College and is managed according to Nevada Revised Statutes (NRS) 396.436 and Business Center North (BCN) purchasing’s inventory procedures.
Inventory procedures and responsibilities will vary, depending upon the type of item and its monetary value.
Donated items must be handled via the TMCC Foundation. The TMCC Foundation will notify the TMCC inventory clerk of the new acquisition, and the inventory clerk will follow up with the department to inform them of the proper inventory procedures for the donated item.
Step 1: Determine whether the item is a fixed asset.
Definition: A fixed asset item is defined as a non-expendable piece of property having a unit cost of $5,000 or more and meeting the following criteria:
- Is complete in itself, and
- Is of a durable nature with a life expectancy of two years or more. Property remains on inventory for the life of the equipment.
This definition does not apply if equipment is leased, rented or placed at a College facility for demonstration purposes.
If the item is not a fixed asset, consider whether the item is sensitive equipment (see below).