UNCAPITALIZED TANGIBLE PROPERTY INVENTORY REPORT AND SPREADSHEET

Overview REPORT SPREADSHEET Cost Center’s Uncapitalized Tangible Property Inventory Report (PCS #3-2918) is completed any time after the fiscal year begins (July 1) by conducting a physical inventory of all uncapitalized equipment and submitting the Report no later than October 31st NOTE: If October 31st falls during a weekend, it must be submitted on or before the last business day prior to the 31st SPREADSHEET Detailed accounting of all uncapitalized equipment maintained on an active electronic computer program (Auditing and Property Records recommends Excel)

What is Uncapitalized Equipment? Tangible fixed assets with a historic cost of $300 to $999.99 Uncapitalized Non-Technology (N) Any other equipment, including, but not limited to, items such as musical instruments, furniture, printers, LCD projectors, maintenance equipment, athletic equipment Will be labeled with an identification number assigned by the cost center (unless a district tag number was once assigned) and is not tracked in the TERMS Fixed Asset System

Inventory A physical inventory of uncapitalized equipment is to be conducted annually and reconciled by school/department staff after July 1st To make the physical inventory manageable in larger schools/departments, inventory can be conducted by several staff members, for example; divide equipment by grade level, by department (math, science, music), or by type of equipment (plant operations, technology)

Spreadsheet Without an updated spreadsheet, the annual report cannot be completed accurately! Each item shall be accounted for on a separate line to include: Identification number (tag, label, school assigned) Description of item Serial/Model number Physical location (such as building/room) Cost or value at date of acquisition (include a PO number or donation date) If items are removed from inventory, include date and reason for removal (surplus, cannibalized, transfer to new cost center) Clearly identify items added and removed/deleted throughout the year

Reporting Refer to your last year’s Cost Center’s Uncapitalized Tangible Property Inventory Report and current year inventory spreadsheets to complete the annual report Cost Center’s Uncapitalized Tangible Property Inventory Report (PCS Form 3-2918) is completed and electronically submitted to the Auditing and Property Records Department by email to propertyrecords@pcsb.org no later than October 31st of each year When the report is submitted, a copy of the spreadsheet is to be backed up in the Shared Folder on the district network

The Report Refer to last year’s Report (2013-14) to complete this section (See sample spreadsheet) Refer to the sample spreadsheet for the current year’s figures (2014-15) used to complete this section

Previous Fiscal Year Totals 2014-15 SAMPLE SPREADSHEET Previous Fiscal Year Totals

2014-15 SAMPLE SPREADSHEET Items Added

2014-15 SAMPLE SPREADSHEET Items Deleted

2014-15 SAMPLE SPREADSHEET Current Inventory

IS YOUR REPORT ACCURATE? Does it balance? Does the formula include all the cells you need?

STEPS TO UPDATE A SPREADSHEET Back up your file to the Shared Folder on the district network Remove highlighting from the new items to incorporate them into current inventory Permanently remove the deleted items from the spreadsheet You are now ready for new activity!

New Fiscal Year SAMPLE SPREADSHEET

SUMMARY Report is due no later than October 31st of every year (if October 31st falls on a weekend, submit it on the prior business day) Submit your Report electronically via email to propertyrecords@pscb.org When your Report is submitted, back up your spreadsheet in the Shared Folder on the district network