Capital Asset Physical Inventory Begins in August

Capital Asset Physical Inventory Begins in August

July 22, 2026

The Capital Asset Physical Inventory will begin in August 2026, and participation is mandatory for all departments. Conducted every two years, this inventory is a state and University requirement that supports strong internal controls and helps ensure that University capital asset records are accurate, complete, and up to date.

To assist departments with inventory preparation, the General Accounting Inventory Team will host workshops, virtual office hours, and an information table in the SMC Campus Center (dates to be announced). Additional instructions, schedules, and department-specific requirements will be communicated directly with departments prior to the inventory count.

Please note that the legislative auditors are expected to conduct their audit next year. Maintaining accurate capital asset records and successfully completing the physical inventory are essential to supporting a smooth audit process and demonstrating compliance with state and University financial and operational control requirements. For more details and important updates, visit the General Accounting webpage.

Questions should be directed to the General Accounting Team at generalaccounting@umaryland.edu.