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Annual Physical Inventory
Conducting Your Annual Physical Inventory (API)
Every fiscal year, your department is responsible for completing a 100 percent inventory of all tagged (capital and control) assets, as directed by the State of Texas Comptroller’s Office guide.
Understanding the API Process
The API is a process of locating and scanning departmental assets. Your department manager must appoint an Inventory Contact Person (ICP) to complete the annual requirement at the beginning of each fiscal year. ICPs are trained by the Inventory Department prior to the annual inventory process, which includes the following:
- Locate, scan and report findings back to the department manager
- Department manager certifies to the UTSA property manager and State of Texas Comptroller that all assets within their department were either located or not located
- Department is responsible for annually scanning its own equipment
- Locate and scan assets; only ICPs have access to update inventory records
- Complete the required annual inventory training course. If you are a newly appointed ICP, you must complete the AM0675 (initial) course. If you are a returning ICP, you must complete the AM0676 (refresher) online course.
Note: A post inventory report will be sent to you with the final inventory results attached. This document should be maintained in your departmental files for future reference, review and audits.