Asset Management, Insurance & Surplus Property. September 29, 2015

Transcription

1 Asset Management, Insurance & Surplus Property September 29, 2015

2 Asset Management

3 Presentation Overview What is Asset Management? Departments Role in Asset Management Annual Equipment Inventory Looking Up Asset Information Additional Training?

4 What is Asset Management? Track Major Equipment Defined as having an acquisition cost > $5,000 and a useful life of one year Ensure that all major equipment is tagged with a UND tag and provide replacements for lost tags Maintain the Asset Management Module for the University and reconcile to the general ledger

5 What is Asset Management? Coordinate, collect and review annual physical inventories and maintain records for insurance purposes Assist departments in establishing procedures for maintaining and controlling their minor equipment lists Process all MAJOR equipment transfers and surplus property forms make changes to assets in the system

6 Departments Role in Asset Management Inform Asset Management (AM) when a major equipment item is received without a tag Inform AM of the asset s location (including building & room number), serial number and description of the asset. If fabricating an item, fill out the Request for Fabrication form before the first purchase is made and discuss with AM A tag will be issued to ensure that all PO s paid are applied to that tag Fabrication expenses should be coded to and the tag number listed on the PO, if possible Once the fabrication is finished, the Completion of Fabrication Notification Form should be completed and sent to AM

7 Departments Role in Asset Management

8 Departments Role in Asset Management

9 Departments Role in Asset Management Inform AM if any equipment is donated to your department or if any equipment needs special insurance (leased or rented assets) Update minor equipment list throughout the year Prepare Equipment Transfer and Status Report forms to move equipment between departments, report an item as lost/stolen etc. Prepare Surplus Property Forms to send to Surplus property This includes major and minor equipment Form is located on the surplus website Perform annual inventories

10 Annual Equipment Inventory What s New? 1. idashboards UND-AM Inventory finder 2. Inventory Verification Report form Why do we conduct annual inventories on campus? Compliance with North Dakota state law and University policy Performing annual inventory ensures that Asset Management records are accurate and that major equipment is properly tagged and in the correct location Minor equipment is updated via the annual inventory process for insurance purposes. If minor equipment is not accounted for on departments annual inventories, it is NOT insured. Departments conduct an inventory once a year either in the Fall or the Spring AM will send instructions to departments approximately 2-3 months before the annual inventories are due

11 Annual Equipment Inventory Inventory Totals List Major Equipment Inventory Minor Equipment Inventory Off-Campus Equipment Inventory Verification Report Form Equipment Transfer and Status Form Items to be Submitted to Asset Management

12 Inventory Totals List Departments have two options for obtaining their Inventory Totals List 1. Log into idashboards and use the UND-AM Inventory Finder to download excel and/or print a PDF of the inventory listing 2. Run the NDU_AM20 query in PeopleSoft Finance and download to excel

13 Inventory Totals List idashboards UND-AM Inventory Finder New Users: to obtain access, please send the following information to Becky Lucke at First and last name IDM (credentials you use for PeopleSoft. Example: john.doe) Address

14 Inventory Totals List idashboards UND-AM Inventory Finder Go to idashboards at Log in using your IDM credentials Click on the drop down box located under the Campus Community tab at the top Choose UND AM-Inventory Finder

15 Inventory Totals List

16 Inventory Totals List idashboards UND-AM Inventory Finder Select Department from the drop down list Select Inventory Type Major Minor Both

17 Inventory Totals List

18 Inventory Totals List idashboards UND-AM Inventory Finder Download to Excel Spreadsheet Right click anywhere on the inventory chart Select Export Chart Data Print or save report as needed Download to a PDF Right click anywhere on the inventory chart Select View Chart as Report Print or save report as needed

19 Inventory Totals List

20 Inventory Totals List NDU_AM20 query in PeopleSoft Finance Navigation: Reporting Tools > Query > Query Viewer The screen below will appear Type in NDU_AM20 and click Search

21 Inventory Totals List NDU_AM20 query in PeopleSoft Finance Once you click Search, the Search Results appear Click on the hyperlink for Run to Excel

22 Inventory Totals List NDU_AM20 query in PeopleSoft Finance After clicking on the hyperlink, you will be prompted to input the Business Unit and your PeopleSoft Department ID number Business Unit: Always UND01 Dept ID From: Input your PeopleSoft department number, not the old Legacy number Can use the magnifying glass to find your department ID Dept ID Through: Same as above Click View Results

23 Inventory Totals List NDU_AM20 query in PeopleSoft Finance

24 Inventory Totals List NDU_AM20 query in PeopleSoft Finance The File Download box will appear Click Save to download and open the file Save the file onto your hard drive

25 Inventory Totals List NDU_AM20 query in PeopleSoft Finance Below is an example of what the query data/results look like This is the spreadsheet you will use to locate your assets This spreadsheet will also identify your minor equipment totals that were report previously and the major tag numbers that were assigned to your minor equipment

26 Major Equipment Inventory It is critical to note ANY discrepancies on the Inventory Totals List Examples of discrepancies: Equipment Transferred to Another Department must complete the Equipment Transfer and Status Report Form Stolen Property draw a line through the item on your Inventory Item List. Identify the item as stolen on an Equipment Transfer and Status Report Form. Attach copies of the Police Report and Equipment Transfer and Status Report form to the Inventory Item List. Surplus Property attach a copy of the Surplus Property Form to the Inventory Item List (original goes to Surplus Property). Major equipment that has been surplussed must remain on your Inventory Totals List until it is transferred to the Surplus Property department. Surplus Property notifies AM when their process has been complete and at that time, the asset is disposed of in PeopleSoft

27 Major Equipment Inventory Examples of discrepancies: Lost Equipment any equipment that cannot be located during your inventory should be documented on the Inventory Totals List as lost month/year in pen next to the tag number All departments with lost items will be required to conduct a follow-up search within 6 months of their regular inventory deadline Upon completion of the second search, departments will complete an Equipment Transfer and Status Report form for any items they were unable to locate Asset Management will delete lost items from the department s inventory upon receipt of the completed Equipment Transfer and Status Report form Untagged New Equipment list any equipment that is not tagged with a cost equal to or greater than $5,000 at the end of your Inventory Item list A purchase order number and voucher ID number must also be provided to identify the item

28 Major Equipment Inventory Examples of discrepancies (cont d): Unlisted Equipment tagged items found in your location(s) but not listed on your Inventory Totals List should be added to the end of the report Rented/Loaned Equipment UND may be required to insure equipment items that are either being rented or on loan Verify these items are still in your possession and if UND is still required to insure them If items have been returned, please draw a line through the item on your list and add a note to the margin An Equipment Transfer and Status Report form will need to be completed to have the items deleted from the Inventory Totals List Equipment Missing a Tag equipment located in your department that doesn t have a tag but is on your Inventory Totals List should be highlighted and marked with an R after the tag number A replacement tag will be engraved and sent to the department to be placed on the equipment

29 Minor Equipment Inventory Departments are to keep an accurate and comprehensive minor equipment (<$5,000) inventory spreadsheet that is to be updated annually for insurance purposes Each department is encouraged to use the Minor Inventory Template (Excel spreadsheet) to document the minor inventory items in the department Template located on AM website ( Template also located on idashboards UND AM-Inventory Finder under the Links section Departments may use their own Excel spreadsheet as long as the information requested on the Minor Inventory Template is provided Department # Building Name/Location Room # Minor Inventory Tag Description Insured Value Subtotaled value for all minor inventory in each building

30 Minor Inventory Template

31 Minor Equipment Inventory Certain items can be lumped together for inventory purposes such as miscellaneous office supplies If numerous offices are outfitted with the same amount of furniture and equipment, you can itemize one office and multiply that dollar amount by the number of offices A major tag is assigned on the Inventory Totals list with the total dollar value from the Excel spreadsheet Tags are created for each location/building that a department has inventory Subtotal your inventory by location/building If substantial minor equipment is received during the year (10% increase or decrease over the prior year inventory), please provide AM with an updated Minor Equipment list with the new dollar value at that time

32 Minor Equipment Inventory Example

33 Off Campus Equipment Inventory Maintain and update your Off-Campus lists for both major and minor equipment inventory Definition of off-campus equipment: All equipment being used off-campus PERMANENTLY or PRIMARILY (more than 50%) for 7 consecutive days or more should be designated as off-campus If you have a question on a specific item, please contact Bob Johnson, Office of Safety at

34 Inventory Verification Report Form New this year! This form will be the required signature page to verify that the annual inventory was performed Located on AM website Located on idashboards under Links section Departmental Inventory Contact Person Certification Statement Inventory Verified by (signature) Department Head (signature)

35 Inventory Verification Report Form

36 Equipment Transfer and Status Form Form is used for the following circumstances: Transfer equipment between departments Delete items traded in on another purchase order Delete lost items after an exhaustive search has been performed Delete stolen items attach copy of police report Signed by department head Form is located on the AM website Link:

37 Equipment Transfer and Status Form

38 Equipment Transfer and Status Form

39 Items to be Submitted to Asset Management Inventory Totals List idashboards UND AM-Inventory Finder PeopleSoft Finance NDU_AM20 query Department s internal spreadsheet detailing the minor equipment by building location Minor Inventory Template Department s own template with the required information Inventory Verification Report Form Signature page

40 Looking up Asset Information Search for an asset Refer to PeopleSoft Tip Sheet on How to Search for an Asset Located on AM website Link:

41 Additional Training? What additional Asset Management training would be helpful to departments? What reports in Asset Management would you like to see? Additional suggestions?

42 Helpful Resources Asset Management: Tel: Website: Surplus Property (Facilities Management): Tel: Mike Hess Website: Bob Johnson, Office of Safety (Insurance): Tel: