Presented by the Controller’s Office Property Training Presented by the Controller’s Office

What is Property? Capital vs. Expendable Property Cost Useful Life > 1 year $5K / $100K / $4M 76xxxx / 74xxxx Expense Account Short List Property Cost What is included? Capital Useful life extending beyond one year and a cost threshold of $5K for tangible personal property (equipment, furniture, computers, etc.) $100K threshold for real property (buildings, building improvements, and infrastructure) $4M threshold for intangible assets (software-purchased, licensed or internally generated, easements, land use rights, patents, copyrights, and trademarks). Capital accounts start with 76xxxx Accounts (Note: if you enter requisitions, the account code is driven by the category code (or commodity code in SpearMart you select). There are a few capital accounts that start with 73xxxx, but the description will always say capital. Expendable Useful life less than one year and/or an acquisition cost of less than the applicable capitalization threshold Start with 74xxxx Property Cost Total cost of property includes (all costs incurred getting the asset in place for its intended use): Shipping Installation Initial Training Renewable annual licenses or annual support services are not capital no matter cost because they don’t have a useful life longer than one year

Responsibility for FSU Property All university-owned property should be properly used and safeguarded by all employees at all times Central Offices Accounting & Reporting Services (ARS) Sponsored Research Administration (SRA) Departmental Responsibility VPs, DDDHs delegate Property Management Role Designation Form All university-owned property should be properly used and safeguarded by all employees at all times ARS –What we do…… Establish policies and procedures ensuring the safeguarding of university assets Ensure compliance with laws, rules, regulations, policies and procedures Coordinate the annual physical inventory of capital property Account for the acquisition, transfer and disposition of capital property Maintain property records in OMNI SRA Ensure property acquired with federal contract or grant (C&G) funds are in maintained in accordance with applicable federal rules and regulations Coordinate the proper accounting for and tagging of title restricted C&G property Approve transfers/dispositions of C&G capital property before sending to Accounting & Reporting Services Departmental Responsibility  Vice presidents, deans or directors may delegate their ultimate responsibility for property accountability to individuals in their department with the following roles: Property Manager Property Custodian Inventory Taker Role owners delegated via completion and submission of Property Management Role Designation Form

Responsibility for FSU Property Departmental Roles Property Manager Property Custodian Inventory Taker FSU_DPT_AM_PROPERTY_ROLES Identifies the Property Manager, Property Custodian, and the Inventory Taker for each department. Principal Investigator (PI) Property Manager By default is the department’s Budget Manager but can be assigned to another. Role: * Determines the appropriate disposition method (surplus, scrap, etc.) for departmental property Serves as final approver for the disposition / transfer of Expendable property (cost less than $5K)   Must obtain approval of ARS for the disposition / transfer of all capital (cost at least $5K) and must also obtain SRA approval for C&G property    Custodian Serves as first point of contact with ARS Coordinates with ARS to identify new capital property Assists in physical tagging Provides necessary information to ARS to load capital property in OMNI Maintains department’s property records Inventory Taker Inventories department’s capital property Only required for departments that perform their own inventory Generally, these are departments with a relatively large number of capital property items generally over 50 items For internal control purposes, should not be the Property Custodian or Property Manager FSU_DPT_AM_PROPERTY_ROLES – use this query to get listing of each department’s Property Manager, Custodian, and Inventory Taker. PI – Manages all property acquired through their sponsored awards and ensures compliance with terms & conditions outlined in the award. The PI works in coordination with the Department Property Roles for contract and grant acquired property, as long as contract/grant is active

Safeguarding University Property Department Guidelines Attractive Items Best Practices Guide Highlights of the Guide Internal Control Checklist Attractive Item Additions Form Guidelines Each department should make every effort to protect and maintain all FSU Property (lock equipment in secured locations, train staff on proper handling, keep up on equipment maintenance)   Attractive Items Departments are encouraged to perform a risk assessment (both financial and operational) on their property to identify those items that are particularly at risk or vulnerable to loss. This cost/benefit assessment should be conducted before developing any internal policies for managing high-risk property items. OMNI’s Asset Management system is available for departments to help identify and track attractive property. For additional information and guidance on attractive/sensitive property, refer to the Best Practices Guide and Internal Control Checklist available on the Controller’s web page under Asset Management. Highlights of the Guide: Examples of attractive/sensitive property How to identify and assess risk Quantitative risk matrix example Cost/benefit analysis examples Tips for tracking attractive/sensitive property Methods of recording attractive/sensitive property The inventory process related to your attractive/sensitive property Form Submit an Attractive Item Additions Form to ARS to obtain property tags These tags will be gold, unlike regular garnet tags Monitoring and control of these items is the sole responsibility of the requesting department Attractive Item transfers, dispositions, etc. must be coordinated by the requesting department Notify ARS if you have Attractive Items that you no longer wish to track

Property Maintenance Departmental Responsibilities Manufacturer Specifications Maintenance Logs Impairments Adequately maintain all departmental property per manufacturer’s specifications or as deemed necessary Departments MUST keep maintenance logs for property purchased through federal awards, which include: Property Detail Property ID Date/Type of Maintenance Performed Impaired assets Notify ARS of damaged property

Property Acquisitions Blanket POs / PCards Tagging & identification Non-C&G tags C&G funded property tags Equipment Fabrications Donated / Gifted Property Vehicle Acquisitions Unless approved in advance by ARS, capital assets may not be purchased on blanket purchase orders or with the FSU Purchasing Card All capital property will be assigned a Tag Number by ARS, who will coordinate an appointment to: Assess whether a property tag can be physically applied to the item Physically apply a tag, as appropriate Obtain necessary information about the asset to load into OMNI (e.g. Serial Number, Description, Location, etc.) All non-C&G Property Tags: “Property of FSU” Black bar code label with garnet text on white background (Standard Garnet Tag) Tag Number begins with 4920 00 Tags for C&G-funded property vary depending on FSU’s title to the property, per the sponsored agreement: “Property of FSU” (no title restrictions) - 4920 00 “Property of US Government” (Federal government retains title) FSU Tag# - 4920 FT (Federal Title) Special “Property of U.S. Government” tag also issued 3. “Property of Sponsoring Agent” (non-Fed sponsoring agent retains title) - 4920 AO (Agency Owned) 4. “Conditional Title” - 4920 CT – This is a temporary property tag. Final title will be determined by SRA based on terms and conditions of the contract/grant. Once this has been determined, ARS will re-tag the asset with appropriated property tag.   All C&G property tags have a black bar code and types 2-4 have a green background color Fabrications Property fabricated or constructed by or for the University may meet the criteria of a capital asset If equipment fabrication is expected to have a total value of at least $5,000, department should: Notify ARS before construction begins Coordinate the establishment of an Optional Chartfield 2 (CF2) value Use this CF2 on all purchases related to the fabrication Accurate and complete records of all fabrication-related expenditures should be maintained by department Upon completion, the department should submit a memo to ARS detailing Description of the property Accumulated cost of the property Dept. ID, Fund Code and Project ID (if applicable) to which the property is to be assigned Donations – 2 ways Benefiting a Sponsored Project (contract or grant) Property Manager should send a memorandum to SRA to include: Itemized list of donated items, with complete descriptions Value (cost or fair market value, if determinable) Original acquisition date Name/contact info of providing agency SRA will determine the acceptability of the donated item(s) and to which contract/grant the item(s) will be assigned Benefiting something other than a Sponsored Project Donations should always go through a university Direct Support Organization (DSO) – Foundation, Research Foundation, etc. A memo with the information above PLUS DeptID / Fund / Project ID to which the property is to be assigned should be sent to the appropriate DSO as well as ARS Vehicles ARS is the only department authorized to have direct contact with the Department of Motor Vehicles ARS obtains Registrations/Titles for vehicles, boats, trailers, and mobile offices The following forms and documentation is needed: FSU Vehicle Acquisition Form Purchase Order (copy) Manufacturer’s Certification of Origin/Title (original) Dealer Invoice (copy) Application for Registration / Title (original)

Property Inventory Required annually Inventory Schedule Communications Scanners Missing Items Inventory Shortage Form accompanied by an Accountability Release Form to ARS. Inventory Shortage Form Capital property on department’s inventory at the beginning of the fiscal year, must be inventoried annually according to FL. Statues. Performed by department or by ARS, depending on number of assets Inventory Schedule (ARS generally does Departments with 50 or less assets) Posted on the Controllers website at the beginning of the fiscal year (July 1st) Contains information on: Department Inventory Deadlines Number of assets to be inventoried by each department Who will complete inventory (Department or Central (ARS)) Email will be sent to department in weeks leading up to their inventory period, containing: Deadline reminder Number of assets to inventoried Inventory Scanners Handheld device used for scanning FSU property tags Provide electronic data files that are loaded to OMNI to update: Asset Location Inventory Date   Missing items For Inventory items that departments are unable to locate, the department must complete an Inventory Shortage Form. The police department will assign a case # and for capital items, you will also need to complete a Capital Property Accountability Release Form These forms should be completed at the time the asset is identified as missing and sent to ARS when completed. Additionally, if the missing item was acquired through a contract or grant, the department is responsible for completing the required state or federal forms pursuant to the applicable regulations and award terms and conditions. Departments have a responsibility to continue to actively search for any items reported as missing after they have certified the completion of their inventory.

Removal of Property from FSU When may University property be removed from campus? Off-Site Capital Equipment Use Form Removal for 1 year or less Removal for more than 1 year Inventory Completion Inventory Completion Certification Form Property may be removed from campus locations only if : It is required by a contract or grant or If the use of the property in the off-campus location will further the goals of the University Must use the Off-Site Capital Equipment Use Form (for capital property only) (may be used as a tool within your Department for Expendable items) The department’s Property Manager or budget account manager must approve the removal of capital equipment if the equipment will be removed from campus for a year or less Removal of capital property in excess of one year Must be approved by the appropriate Dean, Director or Department Head Upon return of the equipment to campus, the Property Custodian must sign a copy of the Off-Site Capital Equipment Use Form and return to ARS Inventory Completion Certification Form must be completed & signed upon completion of inventory Department must attach a list of the assets they inventoried to the Completion Form Required for every department even if ARS performs the inventory Serves several purposes Lists assets that could not be scanned and an explanation as to why it could not be scanned. Certifies proper completion of the inventory process for all departmental assets Can be used to request replacement tags Please indicate on the form, the explanation as to why it was not scanned. Addendum form available if additional space is needed to list assets

Capital Property Moves / Changes Documentation required whenever any of the following changes made to capital property: Location Transfers of ownership (department/fund/project) Descriptions Documented via Capital Property Change Form Form online C&G Property Physical Relocations Documentation required whenever any of the following changes made to capital property: Location Transfers of ownership (department/fund/project) Descriptions   This form is required to account for the transfer of capital property items and ALL vehicles. Transfers of all other property items can be approved and coordinated by departmental Property Managers and DO NOT need to run through Accounting & Reporting Services. SRA must approve of Contract/Grant-owned capital property changes Assistance with the physical relocation is handled by Building Services, via a Facilities work order https://www.facilities.fsu.edu/requests/serviceCenter/

Property Dispositions Surplus Property Expendable Property Property Manager is final approver Request for physical disposition is submitted on line via Facilities Waste Management Surplus Portal Capital Property Capital Property Accountability Release is required and must be approved by ARS prior to submitted disposition request on line via Facilities Waste Management Surplus Portal Trade-Ins Other Dispositions U.S. Government-Owned Property Surplus property is now administered under the Facilities Department: Items that are obsolete, uneconomical, inefficient, or no longer serve a useful function. Property Manager may coordinate disposal of items through Facilities Property that may contain, or has been exposed to, hazardous material should be cleared through the EH&S prior to requesting disposal Facilities Solid Waste & Recycling will determine the appropriate disposition stream for items received Expendable Property (original cost of less than $5,000) Does not require an approval from Accounting & Reporting Services Department Property Manager must approve of these dispositions. Request for physical disposition should be submitted on line via Facilities Waste Management Surplus Portal: https://www.facilities.fsu.edu/depts/wastemanagement/surplus_information2.php Capital Property (original cost of $5,000 or greater & useful life of one year or greater)  A Capital Property Accountability Release Form is required for all capital assets Accountability release for capital property is granted via the Controller’s Office Capital Property Accountability Release Form (AR Form) Approved AR Form MUST be obtained and attached to the submitted disposition request done on line via Facilities Waste Management Surplus Portal. Capital Asset Trade ins- The purchase requisition for the new property acquisition should include: Description of property traded Details on the Trade-in allowance FSU property decal number(s) Serial number(s) Model number(s) The Capital Property Accountability Release Form sent to ARS should include the approved PO# Department should ensure any tag numbers or other references to FSU property are removed prior to return to vendor Vehicle Acquisition Form should be used for vehicle trade-ins   Other Capital dispositions- Lost, stolen, destroyed, or missing items Requires FSU Police Department notification Cannibalization – Use of an item’s component parts for the repair of other university property Abandoned/non-recoverable – The cost to retrieve the property is greater than the value of the item Transfer/donation to other organization (C&G property) Request should be routed through SRA Principal Investigator (PI) must initiate request

Useful OMNI Queries Query Name Description FSU_DPT_AM_CURR_ASSETS List your department's current assets FSU_DPT_AM_PROPERTY_ROLES Identifies the Property Manager, Property Custodian and Inventory Taker for each department FSU_DPT_AM_NOT_INV Assets not yet inventoried in the current inventory cycle FSU_DPT_AM_ASSETS_INV Assets inventoried by department in the current inventory cycle FSU_DPT_AM_LAST_INV_DT The last inventory date of assets not yet inventoried in the current cycle FSU_DPT_AM_ASSET_ACQ_CUSTODIAN Detailed acquisition and custodial (offsite to) information for department’s assets FSU_DPT_AM_TRANS_RET_ASSETS Assets transfers and retired by department FSU_DPT_AM_CURR_NONCAP Expendable property that was added manually to OMNI Asset Management for tracking/inventory purposes Complete listing of Controller’s Office queries - http://controller.vpfa.fsu.edu/query Useful queries can be found on the Controller’s Office website as well as Frequently Asked Questions.

Resources Asset Management website - http://controller.vpfa.fsu.edu/asset-management University Property Policies (OP-D-2-F) - link Frequently Asked Questions - http://fla.st/1OH60cu Departmental Business Management Guide - http://fla.st/1OH62Ba Property Forms - http://fla.st/1OH638e Additional information on OMNI, queries and reporting at FSU is available via the Controller’s Office General Ledger classes - http://fla.st/1OH67VB FSU Surplus Property website – https://www.facilities.fsu.edu/depts/wastemanagement/surplus_information.php