Annual Inventory Report
How to Prepare an Inventory Report
- Create a list of all the goods your 4-H club received or purchased to keep for the club. (e.g., a gift, a calculator, a scale). The list should show:
- Date acquired
- The name of the item and description
- Dollar value (e.g., amount paid)
- Where it is kept (such as the name and address of the
member storing it) - Date the item was disposed of (e.g., sold, thrown away,
donated, recycled)
- You should have last year’s report, too. Do you still have everything that is on the list? If not, write down what you did with it. If you sold it, write down what you were paid for it.
- Now, take a look at the list of things you bought or were given to you this year. Are any worth $1,500 or more? If so, list them on your inventory report. Any similar items (e.g., three computers each worth $500, archery equipment totaling $1,500) with a dollar value of $1,500 or more must be included on both the Annual Inventory Report and the 4-H Annual Financial Reporting System online. (See Form 6.2 Annual Inventory Report on page 36). The value listed for each inventory item should be its Fair Market Value. A good way to find out the Fair Market Value of something is to figure out a fair price that you could sell the item for and that someone would pay that amount for. You can also look search online to see what new and used items will sell for.
- Give a copy of the report to your county 4-H YDP staff by county due date or by the end of the program year. Keep the original for your own records.