EQUIPMENT MANAGEMENT TRAINING. Presented by Fiscal Services December 2017

Transcription

1 EQUIPMENT MANAGEMENT TRAINING Presented by Fiscal Services December 2017

2 EQUIPMENT MANAGEMENT OVERVIEW Why do we have to track equipment? Administrative Policy 2104: Inventory Control of Office and Educational Equipment and Furniture. This administrative policy implements the Commonwealth of Virginia s policies and the University s inherent obligation to exercise appropriate stewardship and accountability for all equipment regardless of the method of acquisition (purchase, lease, fabrication, donation via George Mason University Foundation (GMUF), Equipment Trust Fund (ETF), borrowing, etc.) or the source of funding (educational and general funds, sponsored programs, GMUF, ETF, etc.). Because of its status as a publicly funded institution, the University is accountable for all the equipment in its possession. 2

3 EQUIPMENT LIFE CYCLE Purchasing Equipment Tagging Equipment Managing Equipment 3

4 EQUIPMENT MANAGEMENT OVERVIEW Which equipment needs to be tracked? Type of Equipment Abbreviation Dollar Threshold Included in Inventory Process? General Equipment GEN $5,000 Yes Laptops LTP $1,000 Yes Equipment Trust Fund ETF $500 Yes Not Fixed Asset NFA Under Thresholds No *All equipment should be handled using the same equipment tracking guidelines, however, only tagged equipment over the correlating dollar thresholds will be tracked through the inventory process. 4

5 EQUIPMENT MANAGEMENT OVERVIEW What is ETF Equipment? State appropriated funding through sales of bonds. Most departments use this money for new computers through the ETF obsolescence program administered by Information Technology Services (ITS). Some specially funded departments (research or IT-related) also use this funding to purchase new equipment other than computers. 5

6 EQUIPMENT MANAGEMENT OVERVIEW Equipment Management Calendar Review Inventory (Nov Dec) General Management (June Nov) Physical Inventory (Jan Mar) Inventory Round Reporting (Mar June) 6

7 REVIEW INVENTORY - OVERVIEW Review Inventory (Nov Dec) General Management (June Nov) Physical Inventory (Jan Mar) Inventory Round Reporting (Mar June) 7

8 REVIEW INVENTORY - OVERVIEW November thru December Attend Annual Equipment Inventory Training! Utilize Home Loan Report for quick inventory resolution. Check Building Schedule for an idea of when Fixed Assets will be scanning your department. 8

9 PHYSICAL INVENTORY HOME LOAN REPORT Utilize Home Loan Report for quick inventory resolution. Anything highlighted in Yellow is OLD and form needs to be renewed. Names on spreadsheet indicate who should be in possession of the equipment. A quick response from them will suffice. Renew any old or outdated forms by the end of Round 1 in the inventory process (March 30 th, 2018). 9

10 PHYSICAL INVENTORY BUILDING SCHEDULE Check Building Schedule for an idea of when Fixed Assets will be scanning your department. Dates are FLEXIBLE! We will you to schedule a specific day and time to scan inventory. If your equipment is in multiple buildings, look at the date for the building that has the most equipment in it. We will likely scan ALL locations in one session unless across campuses. 10

11 PHYSICAL INVENTORY - OVERVIEW Review Inventory (Nov Dec) General Management (June Nov) Physical Inventory (Jan Mar) Inventory Round Reporting (Mar June) 11

12 PHYSICAL INVENTORY OVERVIEW January thru March Be prepared to accompany Fixed Assets through scanning process. Review Follow-Up Report to resolve any inventory that is easy to find. Start looking for missing items. 12

13 PHYSICAL INVENTORY SCANNING PREPARATION Be prepared to accompany Fixed Assets through scanning process. Alert the entire department when we will be scanning. Let them know to bring in their laptops and make sure Mason barcodes are visible on all equipment. Acquire any necessary keys or access codes for rooms containing equipment. Review which rooms we need to visit ahead of time. You know your department better than we do! 13

14 PHYSICAL INVENTORY FOLLOW-UP REPORT Review Follow-Up Report to resolve any inventory that is easy to find. These reports include both SCANNED and NOT SCANNED equipment. SCANNED equipment will be highlighted in GREEN on the report. These reports are sent within a week of scanning. Please utilize the electronic version by arranging the report in whichever way is most helpful to you. 14

15 PHYSICAL INVENTORY - OVERVIEW Review Inventory (Nov Dec) General Management (June Nov) Physical Inventory (Jan Mar) Inventory Round Reporting (Mar June) 15

16 INVENTORY ROUND REPORTING OVERVIEW March thru June Use the Round Reports to report inventory as found. Know what to do if equipment is missing after the Final Round. Review Best Practices for maintaining a low-stress inventory and even becoming an Exempt Department. 16

17 INVENTORY ROUND REPORTING OVERVIEW Round Information Round Send Date Due Date Notes Round 1 March 12th March 30th Only sent to Liaison Round 2 April 9 th April 27 th Sent to Liaison and Department Chair Round 3 May 7 th May 25 th Sent to Liaison, Department Chair and Dean/Director Final Reports June 4 th N/A Only sent to departments with missing equipment containing a penalty. Used to report penalty items to SVP, Provost and Budget Office *Note: Dates are subject to change. s will reflect any changes to this schedule. 17

18 INVENTORY ROUND REPORTING ROUNDS 1 & 2 18

19 INVENTORY ROUND REPORTING FOUND EQUIPMENT Use the Round Reports to report inventory as found. Be sure the most current Round Report is being used when reporting equipment as found. Sometimes equipment can turn up elsewhere. Remember to update the Building and Room information on the spreadsheet. It is not found if we do not know the current location! Return the same spreadsheet with highlighted changes. This is the cleanest way to report items as found. NOTE: We manually enter this information into a database so we must be sure of changes indicated on spreadsheet. 19

20 INVENTORY ROUND REPORTING ROUND 3 20

21 INVENTORY ROUND REPORTING FINAL ROUND Know what to do if equipment is missing after the Final Round. If current book value of equipment is greater than the dollar threshold, it is subject to a penalty. Type of Equipment Abbreviation Dollar Threshold Penalty? General Equipment GEN $5,000 Budget reduction Laptops LTP $1,000 Budget reduction Equipment Trust Fund ETF $500 Replacement Not Fixed Asset NFA Under Thresholds N/A 21

22 INVENTORY ROUND REPORTING FINAL ROUND Budget Reduction Example Missing GEN or LTP Equipment: Purchased 7/1/ year life (useful life) Cost of $10,000 Annual depreciation $2,000 ($10,000/5 years) Book value $8,000 Fiscal year 2019 budget reduced by $8,000 for department with missing equipment 22

23 INVENTORY ROUND REPORTING FINAL ROUND Replacement Example Missing ETF Equipment: Purchased 7/1/ year useful life Cost of $2,500 Annual depreciation $500 ($2,500/5 years) Book value $1,500 Department must order a replacement item worth at least $1,500 within 90 days of receiving the Final Inventory Report. Purchase requisition should include barcode of equipment being replaced and Fixed Assets should be notified. *Note: If ETF computer is older than 3 years, it does not need to be replaced (the 3 year rule applies to ETF desktops and laptops only). 23

24 INVENTORY ROUND REPORTING BEST PRACTICES Review Best Practices for maintaining a low-stress inventory and even becoming an Exempt Department. Use web tools and be proactive throughout the year Request a pre-inventory report towards the end of the summer or early fall Return home loan information as soon as possible Use most recent report during inventory period Reschedule if not available for scanning or find a substitute Accompany inventory staff Provide access to all areas Notify faculty of inventory dates Equipment available and visible Be compliant with deadlines 24

25 INVENTORY ROUND REPORTING BEST PRACTICES Departments can be exempt from participating in the following year s inventory if: 100% of items are found in Round 1 (Due March 30th) *Note: Departments with $500K in equipment can be exempt if 95% of items are found in the first round and 100% are found by end of the third round (May 25 th ) Note: Departments cannot be exempt consecutively. You can be exempt in FY19 if you find 100% in this inventory (FY18). 25

26 REGULAR MANAGEMENT Review Inventory (Nov Dec) General Management (June Nov) Physical Inventory (Jan Mar) Inventory Round Reporting (Mar June) 26

27 GENERAL MANAGEMENT OVERVIEW June thru November Keep the equipment safe and encourage others to practice internal controls in order to prevent loss. Send the proper equipment forms to Fixed Assets when changes to equipment occur. Utilize TraQ to help keep up with changes to equipment. 27

28 GENERAL MANAGEMENT INTERNAL CONTROLS Keep the equipment safe and encourage others to practice internal controls in order to prevent loss. Importance of Internal Controls Lock up laptops and other small equipment Secure offices and storage rooms Keep information up-to-date in case of loss 28

29 GENERAL MANAGEMENT INTERNAL CONTROLS In case of Loss or Theft: Step #1: Contact University Police for Incident report Contact the University Police (3-HELP) as soon as the loss is discovered DO NOT DISTURB CRIME SCENE! Step #2: Gather Information Find out which equipment was stolen and if any was tagged. Good information to have: Barcode, Serial Number, Value of Item, Location, any information on who might have access to the location or any suspicious activity. Step #3: Contact Risk Management for insurance claim Proof of ownership Proof of replacement Related invoices Step #4: Send completed Equipment Loss Form to Fixed Assets 29 Must include police incident report number in order to dispose of equipment

30 GENERAL MANAGEMENT FORMS Send the proper equipment forms to Fixed Assets when changes to equipment occur Available on the Fiscal Services Website Home Loan/Off-Campus Assignment Form Assign equipment to a specific individual Interdepartmental Transfer Form Transfer equipment to another department Returned Equipment Form Transfer equipment to a vendor as a trade-in for new equipment, return for credit or warranty replacement Equipment Surplus Form Dispose of a piece of equipment Request For Authority to Cannibalize Equipment Remove parts from specified equipment Go to Online Forms 30

31 GENERAL MANAGEMENT SURPLUS WORKFLOW Notes About Surplus Workflow Web address is Login ID and password are your MESA login and password. If you have problems logging into Workflow, Help manuals are available at: Surplus Workflow 31

32 GENERAL MANAGEMENT TRAQ Notes About TraQ Web address is To request access, complete the TraQ Access Request form at Help manual is available on Fiscal Services website Go to Live Demo 32

33 CONTACT INFORMATION Equipment Program Administrator: Penny Griffith Financial Reporting Manager: Joy Sobieralski