| Title: | Consumable Stores and Supplies Inventory Policy |
|---|---|
| Policy Owner: | Accounting Office, Controller’s Division |
| Applies to: | All University Departments |
| Campus Applicability: | All UConn Campuses, except UConn Health |
| Approval Date: | April 30, 2026 |
| Effective Date: | April 30, 2026 |
| For More Information, Contact: | Associate Controller and Director of Accounting |
| Contact Information: | accountingoffice@uconn.edu |
| Official Website: | https://accounting.controller.uconn.edu/ |
BACKGROUND
The State Property Control Manual states that agencies that have inventories that meet the capitalization threshold of $5,000 must have an inventory system and must report the inventory annually to the Office of the State Comptroller (OSC) on the Annual Inventory Report of all Real and Personal Property (CO-59) form. A Perpetual (continuous) Inventory of Consumable Stores and Supplies Inventory used must be tracked and adjusted by an annual Physical Inventory.
PURPOSE
To maintain compliance with the State of Connecticut Property Control manual and to ensure that inventory is safeguarded and managed to prevent excessive spending and loss.
APPLIES TO
All University Departments on all campuses, except for UConn Health.
DEFINITIONS
Consumable Stores and Supplies Inventory: Stock items consumed in the daily operations of a UConn department, including but not limited to food, cleaning supplies, lab supplies and animals, perishables, table or bed linens, repair or replacement parts, small tools, small appliances, and articles of a similar nature. Items should be new and unopened, and which will be used up within a year. Consumable Stores and Supplies do not include capital equipment or controllable property equipment or items that are no longer usable in daily operations due to obsolescence. Obsolete supplies are items that would not be usable within a year, but departments may choose to keep. See Capital Equipment and Controllable Property Tagging and Physical Inventory Policy for more information.
Perpetual (Continuous) Inventory: Continuous tracking of stores and supplies added to and deducted from Consumable Stores and Supplies Inventory.
Physical Inventory: A physical count of the items on hand, the quantity on hand and the cost of such items.
POLICY STATEMENT
UConn departments maintaining Consumable Stores and Supplies Inventory must maintain a Perpetual Inventory of such items. To be reportable, the University department should have a total inventory cost at the end of the fiscal year that is greater than $5,000. A physical count of Consumable Stores and Supplies Inventory must be performed at least once annually by June 30th and submit a list of Consumable Stores and Supplies Inventory to the Accounting Office for reporting on the CO-59 to the OSC. The Accounting Office requests this information ahead of the fiscal year-end closing process to ensure compliance with the CO-59 reporting requirements.
ENFORCEMENT
Violations of this policy and any related procedures may result in appropriate disciplinary measures in accordance with University By-Laws, General Rules of Conduct for All University Employees, applicable collective bargaining agreements, and the University of Connecticut Student Code.
PROCEDURES/FORMS
An Inventory Worksheet (Excel template) may be used to report inventory. Alternatively, departments may submit a report generated by an inventory system maintained by the department.
The Inventory Certificate Form is available on the Accounting Office website.
Consumables Stores and Supplies Procedures
POLICY HISTORY
Policy created: September 1, 2016
Revisions: April 30, 2026 (Approved by the University Senior Policy Council and President)