IDENTIFY FIXED ASSETS CHANGES (CAPITAL ITEMS ONLY)

Transcription

1 IDENTIFY FIXED ASSETS CHANGES (CAPITAL ITEMS ONLY) TBR Service Center Description of process: This process includes information on how to identify and log fixed assets changes, including the process for the TCAT to notify the Service Center of changes that need to be made in Banner. This process will be used until a workflow is created to automate the process. Table of Contents Step 1. TCAT Determines Type of Fixed Asset Change... 2 A. Determine the type of change... 2 B. Notify Service Center of location change, custodian change, or impairment of asset... 2 C. Notify Service Center of disposal of fixed assets... 3 D. Notify Service Center of Lost or Stolen Assets... 4 Step 2. Service Center Receives Notification of Asset Change... 4 Step 3. Service Center Processes Location Changes... 4 Step 4. Service Center Receives Notification of Custodian Change... 5 Step 5. Service Center Reviews and Processes Impairment of Fixed Assets... 5 Step 6. Service Center Reviews and Processes Disposal of Fixed Assets... 5 Step 7. Service Center Reviews and Processes Lost or Stolen Items... 5 Service Center Training Identify Fixed Asset Changes (Capital Items Only) Process Manual Page 1 of 5

2 Step 1. TCAT Determines Type of Fixed Asset Change While the majority of changes to fixed assets are discovered during the annual fixed asset inventory, a fixed asset change can occur at any time throughout the fiscal year. When the TCAT becomes aware of a change, the change should be communicated to the Service Center as soon as possible. These changes include, but are not limited to, location changes, custodian changes, disposals of fixed assets, impairment of fixed assets, and lost or stolen fixed assets. The template can be accessed on the Finance page within the Service Center section in Luminis, under Templates. A. Determine the type of change 1. Determine if the change is a location change, disposal of fixed asset, impairment of fixed asset, or a lost or stolen fixed asset 2. Proceed to Step 1B if the change is a location change, a custodian change, or an impairment of asset 3. Proceed to Step 1C if the change a disposal of fixed asset 4. Proceed to Step 1D if the change is a lost or stolen fixed asset B. Notify Service Center of location change, custodian change, or impairment of asset 1. Notify the service via of the change with the subject line: [TCAT Name] Fixed Asset Change - [Change Type] [Date] 2. Include the completed Fixed Asset Changes template based on change type a. Location change: iv. Old location code v. New location code Service Center Training Identify Fixed Asset Changes (Capital Items Only) Process Manual Page 2 of 5

3 b. Custodian change: iv. Old custodian name v. Old org code vi. New custodian name vii. New custodian ID number viii. New org code c. Impairment of asset iv. Cause of impairment v. Percent of asset impaired vi. How long asset will be impaired C. Notify Service Center of disposal of fixed assets Fixed assets may only be disposed of by the methods listed in TBR Policy 4:02:20:00 Disposal of Surplus Personal Property. TBR Policies can be found by going to the TBR Website and selecting Policies and Service Center Training Identify Fixed Asset Changes (Capital Items Only) Process Manual Page 3 of 5

4 Guidelines from the Getting Started drop-down menu. Select Business and Finance Policies from the navigation bar on the left from the Policies and Guidelines site. 1. Ensure that no unpermitted disposal method has been used 2. Determine if the disposal was a sale or trade in 3. Notify the Service Center via of the change with the subject line: [TCAT Name] Fixed Asset Change - Disposal [Disposal Type] [Date] 4. Include the completed Fixed Asset Changes template a. Fixed asset description b. Tag number c. Serial number/vin d. How item was disposed of e. If item was sold, the amount received f. If item was traded in, the amount received g. Date of disposal D. Notify Service Center of Lost or Stolen Assets 1. The TCAT Coordinator should follow any institutional procedures required when fixed assets are lost or stolen 2. Complete reporting required by TBR Guideline B-080 Reporting and Resolution of Institutional Losses a. Go to the TBR Website b. Click Getting Started and select Policies and Guidelines from the drop-down menu c. Select Business and Finance Guidelines from navigation menu on the left d. Scroll down to select Guidelines B Notify the Service Center via of the change with the subject line: [TCAT Name] Fixed Asset Change - [Lost/Stolen] [Date] Step 2. Service Center Receives Notification of Asset Change Step 3. Service Center Processes Location Changes Service Center Training Identify Fixed Asset Changes (Capital Items Only) Process Manual Page 4 of 6

5 Step 4. Service Center Receives Notification of Custodian Change Step 5. Service Center Reviews and Processes Impairment of Fixed Assets Step 6. Service Center Reviews and Processes Disposal of Fixed Assets Step 7. Service Center Reviews and Processes Lost or Stolen Items Service Center Training Identify Fixed Asset Changes (Capital Items Only) Process Manual Page 5 of 5