OSC/Core-CT Asset Management User Group

Transcription

1 OSC/Core-CT Asset Management User Group Asset Management User Group Meeting Session #0001 February 24, 2015 Session #0002 February 26, 2015 Board of Regents Conference Room 61 Woodland St Hartford, CT

2 Agenda Asset Management Facts Reconciliation Receiving Assets Asset Processor Loading Capitalization Reporting (what's new) Audit Queries Non-Cap Expenditures PI Unders Physical Inventory (the road ahead) Forms Property Control Manual Intangible Assets Important Dates

3 Asset Management Facts 480,000 Assets 53 Business Units 275 Users $19.4 Billion

4 Reconciliation You bought it, they lost it Save on Time and Frustration RECONCILE

5 Reconciliation Challenge Why Important? Approach Capture all PO Acquisitions Capture all AM Expenditures Review Capitalization Thresholds Capture all AM Receipts Ensures accuracy Minimize Audit Findings Avoid duplication Ensure that assets are not over/under stated. Avoid need to Basic Add Reduce Data Entry Error CT Identify Queries AP Expenditure Validations Voucher/Asset Audit Query Assets Over/Under Query Identify Open Receipts Review Received Status Assets

6 Reconciliation CT Identify Queries Public Financials Reporting Tools CT_IDENTIFY_ASSETS_IN_PO CT_IDENTIFY_CNTRL_IN_PO Displays asset distribution lines on dispatched and/or Approved Purchase Orders Looks for distribution lines with an Asset Expenditure account Examine Account Codes and Profiles

7 Reconciliation

8 Reconciliation

9 Reconciliation AP Expenditure Validations Public EPM Queries CT_CORE_CAPITAL_ASSET_EXPENDI CT_CORE_NON_CAP_ASSET_EXPENDI (new) A/P Folder Displays asset distribution lines on Posted Vouchers Looks for distribution lines with an Asset Expenditure Account Code Validate Purchase Order/Voucher in AM

10 Reconciliation

11 Reconciliation

12 Reconciliation

13 Reconciliation Voucher/Asset Audit Query Public EPM Query CT_CORE_FN_AM_VCHR_ASSET_AUDIT AM Folder Displays Voucher Lines Posted to AM (ASSET ID) Displays Voucher Lines NOT Posted to AM (NO ASSET ID) Reconcile Missing Assets

14 Reconciliation

15 Reconciliation

16 Reconciliation Assets Over/Under Query Public EPM Query CT_OSC_ASSETS_OVER_UNDER OSC Folder Verify that assets are Capitalized correctly Assets over $ in NON-Capitalized Cost Tables Assets under $ in Cost Tables

17 Reconciliation

18 Reconciliation

19 Reconciliation

20 Reconciliation Identify Open Receipts On-line Search Add/Update Receipts Search for Asset Lines Still Pending Serialized Lines Require Serial Numbers Update Serial if Voucher has NOT been Created

21 Reconciliation

22 Reconciliation

23 Reconciliation

24 Reconciliation Review Received Status Assets Search for an Asset Change Asset Status to RECEIVED Displays all Assets not yet Capitalized Verify that assets are not yet Paid Reconcile Missing Assets Reconcile Costs

25 Reconciliation

26 Reconciliation

27 Receiving Assets Challenge Why Important? Approach Interface Receipt Ensure accuracy Automate Asset Load Immediate Tracking Create Many Assets from One Line Minimize need to Unitize Later Assets created Immediately Assign Tag/ID Deter misuse Streamline Tracking Capture all AM Information Accommodate Split Funded Assets Avoid need to Basic Add Later Reduce Data Entry Error Ensure that assets are not over/under stated. Check Box Default Serialize Tag at Receipt System Assigned Asset ID Use MORE DETAILS Tab Use ONE ASSET ID button

28 Receiving Assets Check Box Default Determines when Asset is Created Deselect to STAGE Assets Always defaults to Selected Kicks Off Receiver Interface Push Process Important to Make Sure Process Runs

29 Receiving Assets

30 Receiving Assets

31 Receiving Assets Serialize Most Efficient Way to Receive Streamlines the Business Process Eliminates Consolidate/Unitize Saves Time Serial Number Required

32 Receiving Assets

33 Receiving Assets

34 Receiving Assets Tag at Receipt Immediately Identifies Ownership Proof of Receipt Link to Acquisition Documents Physical Inventory Ready Minimize Chance for Discrepancies

35 Receiving Assets

36 Receiving Assets System Assigned Asset ID Preferred Method Eliminates Duplicate Errors No Need to DELETE Assets Allows for Auto Assign Tags Accommodates excess Quantities

37 Receiving Assets

38 Receiving Assets More Details Tab Capture More Details Upfront Verify Location Assign Custodian Manufacturer Model

39 Receiving Assets

40 Receiving Assets One Asset ID Button Multiple Distributions to Single Asset Not available for single distribution Must have Quantity of One Assigns Sequence Number Value to Each Row

41 Receiving Assets

42 Receiving Assets

43 Receiving Assets

44 Asset Processor Loading Challenge Why Important? Approach Preview Data in the Loader Tables Combine many load lines into a single asset, or split a load line into many assets Load Physical/Capitalize Lines in a Timely Manner Ensure that Load Type/Status is updated Needs to be done BEFORE the Voucher is created Needs to be in an Open Accounting Period Allow subsequent Receipts to Load Once paid, Assets need to be placed In-Service Approve/Review Consolidate and Unitize Load Transactions into AM

45 Asset Processor Loading Approve/Review Defines the Individual Assets Review Load Status Review Trans Load Type Time Sensitive

46 Asset Processor Loading

47 Asset Processor Loading PENDING Not Processed Requires immediate action Will not allow for additional transactions ERRORED An error exists on this transaction and it will not be processed Will not allow for additional transactions CONSOLIDATED The transaction has been consolidated into a different transaction and it will not be loaded UNITIZED The transaction has been unitized into a different transaction and it will not be loaded LOADED The transaction has been successfully processed

48 Asset Processor Loading

49 Asset Processor Loading Capitalize Phys Add AdjCstAcqD Asset Capitalization Payment Line from AP Needs to be Manually Loaded in Open Accounting Period Non-Financial Add Receipt Interface Checkbox determines whether or not the system will load automatically Adjust Cost and Add Acquisition Detail Needs to be Manually Loaded in Open Accounting Period UNITIED LOADED

50 Asset Processor Loading Consolidate/Unitize Defines the Individual Assets Combine Pending Distribution Lines Split Pending Distribution Lines Time Sensitive

51 Asset Processor Loading

52 Asset Processor Loading

53 Asset Processor Loading Load Transactions into AM Reads Staged Data and Populates Asset Management Tables Pending Load Status Monitor/Load Often Physical Lines (PO Receipt) Capitalize Lines (Auto loaded)

54 Asset Processor Loading

55 Asset Processor Loading

56 Capitalization Challenge Why Important? Approach All Asset's eventually need to be Capitalized Manual Capitalization Capitalize in an Open Accounting Period Create Cost Records Load Capitalize Interface No Capitalize Interface Creates Issues Not Recommended Needs to be in an Open Accounting Period Minimize Audit Findings Once paid, Assets need to be placed In-Service Basic Add Monthly Reminders

57 Capitalization Load Capitalize Interface Create Cost Record Create Book Record (Capital Assets Only) Changes Status to In-Service Available for Depreciation Time Sensitive

58 Capitalization

59 Capitalization Basic Add Not Recommended Can cause duplicates May be necessary Confirm that there is no associated Interface Can make changes without capitalizing Time Sensitive

60 Capitalization

61 Capitalization

62 Capitalization Monthly Reminders Capitalize lines loaded by 10 th of month Interfaces set to Error if not loaded Time Sensitive

63 Capitalization

64 Reporting (what's new) Challenge Why Important? Approach Include Non- Financial Assets on PI Unders Report Review Non- Capitalized Expenditures Identify Assets with the wrong cost Have a record of all assets not found during a Physical Inventory Update Physical Inventory Report Help with Reconciliation New EPM Non-Cap Expenditure Query Minimize Audit Findings Accurately report Asset Cost Basis Three new EPM Audit Queries

65 Reporting (what s new) Updated Physical Inventory Report CTAM2210 New name Lists all assets not found during Physical Inventory

66 Reporting (what s new)

67 Reporting (what s new)

68 Reporting (what s new)

69 Reporting (what s new) EPM Queries CT_CORE_NON_CAP_ASSET_EXPENDI Posted vouchers w/asset dist codes CT_OSC_ASSETS_NO_COST In-service assets missing cost record CT_OSC_ASSETS_OVER_UNDER In-service assets with cost in wrong table CT_OSC_ASSETS_UNDER_DOLLAR In-service assets w/cost of $1.00 or less

70 Reporting (what s new)

71 Reporting (what s new) EPM Asset Management Job Aid:

72 Physical Inventory (the road ahead) Challenge Why Important? Approach How to deal with current Asset scanners that are at End Of Life Accommodate new 9.2 Mobile Inventory Allow for Manual Physical Inventory Battery Life is no longer consistent Units Lock Up New Real Time application No 3 rd Party Software Required Accommodate Agencies that do not have access to Wi-Fi/Wireless Backup Option Scanner replacement batteries Data Clean IOS/Android Devices Excel Spreadsheet Template

73 Physical Inventory (the road ahead) Scanner Replacement Batteries Current Intermec Scanners CK31 (no longer supported by Intermec) CK3 Replacing Batteries Battery #1 User Replaceable Battery #2 Return to Vendor for Replacement

74 Physical Inventory (the road ahead) Data Clean Core-CT Help Desk Ticket Required Update software on the scanner Perform asset data clean-up

75 Physical Inventory (the road ahead) IOS/Android Devices Oracle adding new Mobile Asset Physical Inventory (9.2) Real Time Application WIFI or Cellular Capable Browser Based Nothing to Upload Manual Option still Available

76 Physical Inventory (the road ahead) IOS/Android Devices

77 Physical Inventory (the road ahead) IOS/Android Devices Capability to scan via inexpensive add on: Honeywell Scanner Sled Bluetooth Scanner Minimum investment $

78 Physical Inventory (the road ahead) IOS/Android Devices

79 Physical Inventory (the road ahead) IOS/Android Devices Agency Benefits: Utilize existing hardware Eliminate lost data files Access data in real time No additional software programs Improved battery technology Streamline processing 4 step process

80 Physical Inventory (the road ahead) IOS/Android Devices Timeframe Objective 2016 Propose/Release Plan 2016/2017- Testing Implement

81 Physical Inventory (the road ahead) Excel Spreadsheet Template Manual Physical Upload Tool Supported now and in the future Good backup option Works off Line Time consuming Subject to data entry error

82 Physical Inventory (the road ahead) Excel Spreadsheet Template

83 Forms ADJUSTMENT TO REAL AND PERSONAL PROPERTY CO-853 RECORD OF EQUIPMENT ON LOAN CO-1079 TRANSFER OF ASSETS BETWEEN STATE AGENCIES CO-64 EQUIPMENT TRANSFER FORM

84 Forms Adjustment to Real and Personal Property CO-853

85 Forms RECORD OF EQUIPMENT ON LOAN CO-1079

86 Forms State equipment is not intended to be used for personal reasons. Loan permission is to be granted only in order to conduct State business. The equipment may be loaned if the agency head is convinced that the removal of such equipment will not: INTERFERE WITH THE NORMAL OPERATION OF THE AGENCY CAUSE UNREASONABLE WEAR AND TEAR ON THE EQUIPMENT CAUSE EXPENSE TO BE INCURRED BY THE AGENCY PROVIDE FOR PROFIT-MAKING ACTIVITIES

87 Forms ASSET PERSON COMPLETES THE CO-1079 INDIVIDUAL TAKING THE EQUIPMENT SIGNS THE CO-1079 PHYSICAL INVENTORY

88 Forms One copy of the CO-1079 is retained by the asset person, one copy is given to the division or department loaning the equipment, and the final copy should be given to the individual authorized to use the equipment. Equipment should not leave State premises unless an inventory tag is on the equipment. If the equipment has not been returned by the expected date indicated, procedures should include making direct contact by letter or phone on a weekly basis with the individual until the equipment is returned. Equipment should not be loaned for extended periods of time. All equipment must be returned to the agency during a physical inventory.

89 Forms TRANSFER OF ASSETS BETWEEN STATE AGENCIES INTER-UNIT TRANSFER OF ASSETS CO -64 7/05 RECEIVING BUSINESS UNIT NEW ASSET ID PROFILE ID NEW LOCATION CODE USE THIS FORM TO FACILITATE ASSET COLLECTION BETWEEN STATE BUSINESS UNITS STATE OF CONNECTICUT OFFICE OF THE STATE COMPTROLLER 1. RECEIVING BUSINESS UNIT: 2. TRANSFERRING BUSINESS UNIT: a. PLEASE COMPLETE THE FOLLOWING SECTIONS : a. PLEASE COMPLETE THE FOLLOWING SECTIONS : RECEIVING BUSINESS UNIT, TRANSFERRING BUSINESS UNIT, CHARTFIELD INFORMATION, DESCRIPTION OF ASSET (BOTTOM PORTION OF PAGE). b. SIGNATURE OF AUTHORIZATION. b. RETAIN IN FILE. SEND COMPLETED FORM TO TRANSFERRING BUSINESS UNIT. c. RETAIN COPY. RECEIVING BUSINESS UNIT IF DEPARTMENT OF TRANSPORTATION: ASSET CLASS CHARTFIELD - COMPLETED BY RECEIVING DEPARTMENT COST LINE FUND DEPARTMENT SID PROGRAM ACCOUNT PROJECT CHARTFIELD 1 CHARTFIELD 2 BUDGET REFERENCE PREPARED BY TELEPHONE NO. DATE RECEIVING BUSINESS UNIT ACCEPTANCE THE ABOVE DETAILED ASSET TRANSFER IS AUTHORIZED TO BE ENTERED INTO CORE-CT WITH THE CHARTFIELD VALUES LISTED ABOVE. AUTHORIZED DEPARTMENT SIGNATURE TITLE DATE TRANSFERRING BUSINESS UNIT TRANSFERRING BUSINESS UNIT PDC REFERENCE CODE DESCRIPTION OF ASSET: TO BE COMPLETED BY TRANSFERRING BUSINESS UNIT PREPARED BY TELEPHONE NO. DATE

90 Forms 6/2010 STATE OF CONNECTICUT EQUIPMENT TRANSFER WITHIN AGENCY COMPLETE WHEN EQUIPMENT IS MOVED WITHIN AN AGENCY AGENCY ACRONYM AGENCY NAME EQUIPMENT TRANSFER FORM DATE TAG NUMBER ITEM DESCRIPTION (Include Material Content) FROM TO ADDRESS ROOM NO. ADDRESS ROOM NO. AUTHORIZED BY (Signature) DATE POSTED BY DATE POSTED

91 Property Control Manual The Revised Property Control Manual The revised Property Control Manual will be released as an exposure draft for 90 days. Please use the asset mailbox to comment on the exposure draft.

92 Intangible Assets What s New Intangible Assets The Governmental Accounting Standards Board s Statement No. 51 Accounting and Financial Reporting for Intangible Assets defines intangible assets and how they are to be handled for reporting purposes. All intangible assets that meet the definition in GASB 51 should be classified as capital assets.

93 Intangible Assets What is an Intangible Asset? Lacks physical substance Nonfinancial nature Initial useful life extending beyond a single reporting period

94 Intangible Assets Common intangible assets include but are not limited to: Rights of Way and other easements Patents, copyrights, trademarks Land use rights License agreements Permits Computer software (internally generated, government websites, purchased or licensed)

95 Important Dates Physical Inventory completed by June 30 CO-59 Due October 1 osc.assets@ct.gov

96 Questions? Comments Contact: (OSC Asset Management Mailbox) UPK: (online interactive training) General Information: (Core-CT Website) Help Desk: / Thank You!

97