CAPITAL ASSETS Presented by CAPITAL ASSETS GROUP Accounting & Financial Reporting

How to contact Capital Assets Group? PHONE (754) CAPITAL ASSETS CONFERENCE

Which Account Assignment to use for a Capital Asset - Value of $1,000 or greater? Audio Visual Materials Furniture, Fixture & Equip Computer Hardware Buses Motor Vehicles Computer Software

Which Account Assignment to use for an Asset – Value of less than $1,000? Audio Visual Materials Furniture, Fixture & Equip Computer Hardware Computer Software

How is an asset added to inventory?

A goods receipt transaction must be completed for each asset individually. After month-end, Capital Assets Group downloads the SAP report to capture all capital asset activity (purchases, returns & reversals). Each asset is identified by a goods receipt document number. Any goods receipt corrections should be processed before month-end. Assets are then added to “PROP” to their corresponding location.

What is the significance of Goods Receipt? To capture capital assets in a timely manner To ensure asset information is accurately reflected in the inventory such as product description, serial number and location To avoid future audit discrepancies Reminder: All goods receipt transactions for year- end must be processed by June 28, 2011 to be reflected in the current fiscal year’s inventory

How to track inventory? Request a PNI 811 inventory report for your location from ETS (Contact Lorena Widgeon) Communicate any inventory discrepancies to the Capital Assets Group via to Capital Assets Conference

Surplus Process Flow Locations to complete ORIGINAL Surplus Form (3290A) & contact B- Stock for removal of items B-Stock picks up items and ORIGINAL Surplus Form (3290A) B-Stock completes pick-up acknowledgment form B-Stock forwards ORIGINAL Surplus Form (3290A) and pick-up acknowledgment form to Capital Assets Capital Assets sends an confirmation to locations upon receipt of Surplus documentation

How to handle Transfer of Assets? Surplus Declaration Transfer Form (3290A) should be completed and approved. Upon receipt of the original Transfer form and documentation from B-stock or property custodian, Capital Assets Group sends a confirmation to the corresponding locations.

How to handle Missing/Stolen/Donated Assets? Tangible Property Loss Report along with a copy of the Police Report and SIU Immediate Notification Report should be submitted to the Capital Assets Group for assets to be marked as missing/stolen in the Master File. Items listed on the Tangible Property Loss Report should also be reflected on the Police Report and SIU Report. Equipment Acquisition Form for equipment valued at $1,000 or more that is acquired through internal funds or donations should be submitted to the Capital Assets Group along with a copy of the invoice.

PNI Reports on OptiSpool Web PNI REPORTS reflecting inventory changes when ETS updates the District’s Master File of Capital Assets Database: PNI954A – provides a detailed list of all new equipment records entered into the Master File PNI954B – provides a detailed list of all equipment records deleted from the Master File PNI954C – details all modifications to equipment records (i.e. changes to property descriptions, serial number, and equipment condition)

Procedures for Property & Inventory Control (Business Practice Bulletin: O-100) Website/O-100%20Procedure%20for%20Property%20&%20Inventory%20Control.pdf

How to access Capital Asset Forms? Forms and instructions are available on the Detailed Asset Breakdown Over $1,000 Surplus Equipment Transfer Form Tangible Property Loss Report / Equipment Acquisition Form

Detailed Asset Breakdown Over $1,000

Surplus Equipment Transfer Form

Tangible Property Loss/Equipment Acquisition Form

SIU Report

B-Stock Pick-up Acknowledgment Form

QUICK REFERENCE GUIDE ACCOUNT ASSIGNMENT ≥ $1,000< $1, Audio Visual Materials Furn., Fixture & Equip Computer Hardware Buses Motor Vehicles Computer Software Audio Visual Materials Audio Visual Materials Furn., Fixture & Equip Computer Hardware Computer Software How is an asset added to inventory? Asset received via GOODS RECEIPT Asset ordered via STANDARD ORDER ASSET added to Inventory REPORT downloaded from SAP by Capital Assets Group monthly Forms and instructions are available on the Detailed Asset Breakdown Over $1,000 Surplus Equipment Transfer Form Tangible Property Loss Report /Equipment Acquisition Form Forms and instructions are available on the Detailed Asset Breakdown Over $1,000 Surplus Equipment Transfer Form Tangible Property Loss Report /Equipment Acquisition Form CAPITAL ASSETS CONTACT INFORMATION PHONE: CAPITAL ASSETS CONFERENCE CAPITAL ASSETS CONTACT INFORMATION PHONE: CAPITAL ASSETS CONFERENCE