Inventory check-up
Now, is the perfect time to do an inventory check-up. Why, you wonder? Because you probably aren’t doing a lot with your inventory in the middle of winter. So, it’s a good time to check it out. Update values as needed and maybe even get rid of some things.
So, first things first – look at your club’s inventory log. Reviewing the log at a board meeting might be the most productive way to get through the whole list. On the log, it should list everything owned by the club (shovels, scales, curriculum, sewing machines, etc.), when it was purchased, its value and where it is stored. You’ll want to review each item on the list – maybe not physically, but touch base with whomever is housing it. Ask…
- What is its overall condition? Is there any damage?
- Was there an adequate supply last time this was used?
- When was the last time it was used?
Asking these questions will help you gain a better understanding of what pieces of inventory are the most used, in need of repair/replacement or may just not be needed by the club anymore. This will help you create your list of action items for the club’s inventory.
For things that are in good shape and used regularly, you may want to do a little research and determine if the value listed for the property is accurate. As an example, a livestock scale kept in good condition since its purchase in 2001, is still an important part of the clubs inventory, but it isn’t worth the same value that it was when it was purchased. To reduce the value of an item, you’ll need to do a little research to find a more accurate price and the internet can help. Doing a search for your exact item will usually turn up several classified ads. Find the best 3-4 recent ads with similar condition and then averaging the price will help you determine the true value of your item.
Now, bring your action items to the club members for review and ratification. Often times this is done by the Treasurer, but whomever serves as your property custodian can take on this job. To do this, you will need “to make a motion to amend your club’s inventory log to reflect…” the points from your action list 1, 2, 3. Once the motion is made and a second is heard, the club can discuss each item in detail. Remember to bring your research so that you can answer questions about why you are recommending updated values or removing specific pieces of inventory all together. Supplies that need to be replenished or new items that are needed can be discussed now, but really need to be handled in a different motion with the clubs budget in hand.
Once the discussion has taken place the motion can either be amended, tabled or voted upon as is. This is the tricky part for the club secretary, because they need to record the original motion and any subsequent motions and changes made during the discussion. The minutes become the record that the whole club made these decisions, not just one member or a small group.
An inventory check-up can be done at any time of the year, but starting in January/February gives you plenty of time to do the inventory review, research and bring it to the club well before you have to prepare the inventory log to be included with year-end reporting during summer.
Annual Inventory Log Form 6.2 http://4h.ucanr.edu/files/19875.pdf