62. Stocks and stores

62.1. College Deans/Directors of Services are responsible for establishing adequate arrangements for the custody and control of stocks and stores within their College/Service. The systems used for stores accounting in Colleges/Services must have the approval of the Director of Finance.

62.2. College Deans/Directors of Services are responsible for ensuring that regular inspections and stock checks are carried out. Stocks and stores of a hazardous nature should be subject to appropriate security checks.

62.3. Those College Deans/Directors of Service whose stocks require valuation in the balance sheet must ensure that the stock-taking procedures in place have the approval of the Director of Finance and that instructions to appropriate staff within their College/Service are issued in accordance with advice contained in the University’s operational financial procedures.