BANNER FIXED ASSETS POLICIES AND PROCEDURES
|
|
|
- Daisy Veronica Turner
- 9 years ago
- Views:
Transcription
1 BANNER FIXED ASSETS POLICIES AND PROCEDURES How they affect you. Lorie Pierce, Fixed Assets Coordinator Fixed Assets Section of Business Services 2/24/2016 1
2 WHAT ARE WE TALKING ABOUT? Fixed Assets policies and procedures that directly affect your work, your budget, and your responsibility for protection of UNCP assets as custodian department. Fixed Assets Section of Business Services 2/24/2016 2
3 WHAT DOES THE FIXED ASSETS SECTION OF BUSINESS SERVICES DO? We are responsible for: Determining new assets and tagging for identification Performing annual inventory audits Determining correct cost of assets recorded Maintaining the University Fixed Assets accounting records that document equipment and property acquisitions and which are part of the annual University Financial Statements. 2/24/2016 Fixed Assets Section of Business Services 3
4 FIXED ASSETS RESPONSIBILITY All moveable capitalized assets and inventoried assets are physically inventoried each fiscal year (July-June) by Fixed Assets staff after pre-inventory is completed by the departments. Each Department Head/Manager is responsible for safeguarding all assets purchased by his or her department and signing an Annual Inventory Form and assisting with the Physical Inventory. Physical assets, their cost and depreciation are audited annually by the State Auditors These records are used by the University to report Fixed Assets on the Annual Financial Statements Fixed Assets Section of Business Services 2/24/2016 4
5 FIXED ASSETS RESPONSIBILITY BY DEPARTMENT For Equipment Under the Capital Threshold of $5,000. You may want to also keep these on a spreadsheet or list by the department, including serial numbers for a departmental record. Fixed Assets Section of Business Services 2/24/2016 5
6 FIVE AREAS OF IMPORTANCE New Assets Purchases Tagging Annual Inventory Forms Our Website Our Staff & Location Fixed Assets Section of Business Services 2/24/2016 6
7 WHAT ARE FIXED ASSETS? DEFINITION Fixed assets are classified as either capitalized or inventoried assets and are acquired for use in normal operations Capitalized Fixed Assets: are land, buildings machinery, tools or furniture (Property, Plant and Equipment) that cost more than $5,000. The cost of capitalized items include shipping charges, legal fees, setup cost, in addition to the purchase price, all which together must equal at least $5,000. Are used in course of business operations Have a normal life expectancy of two years Inventoried Fixed Assets: include all assets $2,500 or greater. The cost of inventoried items include shipping charges, legal fees, setup cost, in addition to the purchase price, all which together must equal at least $2,500. Fixed Assets Section of Business Services 2/24/2016 7
8 What are Fixed Assets? Includes 3 types of assets- Permanent land, improvements to land, easements, buildings, building improvements, infrastructure, and structures Moveable Equipment (Asset barcodes applied & inventoried) Office equipment and furniture, Data processing equipment, Educational, research and scientific equipment, Motor vehicles- licensed, Other equipment -unlicensed vehicles, machinery, landscaping, dining hall, maintenance and other equipment Other tangible or intangible assets Software, copyrights, etc 8 Fixed Assets Section of Business Services 2/24/2016
9 FIXED ASSET COST THRESHOLD $5,000(Capitalized) and $2,500(Inventoried) Per Asset ONLY The recorded cost of each capitalized fixed asset in the General Ledger includes: Asset Cost + (tax) Delivery Fees Legal Fees Installation Fees + $ $ $ $ *All/Any of these must be combined to equal the NC State threshold of $5,000 IF the Total Cost $5,000 appropriate purchasing expenditure codes are required Fixed Assets Section of Business Services 2/24/2016 9
10 Fixed Assets Section of Business Services 2/24/
11 THINGS TO REMEMBER FOR PURCHASES 1. Use EA for Each as the Unit of Measure when purchasing assets with Quantity Unit Price. $11, Fixed Assets Section of Business Services $ EA 2/24/
12 THINGS TO REMEMBER FOR PURCHASES: 2. When all line items purchased create 1 asset, purchase with the same fixed asset capital expenditure account If : The combined items total is $5,000 or more Including shipping, handling, installation and tax NOT including extended warranties or maintenance agreements How: Use same expenditure account code in accounting block. Fixed Assets Section of Business Services 2/24/
13 FIXED ASSET EXAMPLE Microscope with Laser Requisition Line Items Cost Quantity Account Frame $8, EA Eyepiece EA Stage 5, EA Observation Tube 1, EA SIM Laser Scanner 4, EA Transmitted Light Detector 5, EA Spectral Detection 6, EA th Channel 2, EA PMT Detection Unit 3, EA Fiber Port EA Shipping/Handling EA Installation EA Optional Software 4, EA Extended Warranty EA TOTAL ASSET COST $40, REQUISITION TOTAL $47, Fixed Assets Section of Business Services 2/24/
14 THINGS TO REMEMBER WHEN PURCHASING FIXED ASSETS : 3. Any item purchased to be permanently added to, attached to, or installed into a previously purchased capital asset must be purchased using the same capital expenditure code used for that asset. This includes equipment items such as a Handicap Lift for a Bus, Digital camera for a Microscope, but does NOT include expendable supplies such as copier toner or intangible assets such as software. (Contact Fixed Assets Department, if unsure.) Fixed Assets Section of Business Services 2/24/
15 FIXED ASSETS EXAMPLE: BUS WITH HANDICAP LIFT Handicap Lift $6, Installation 1, Total Cost $7, (To be installed into Asset N Bus) Fixed Assets Section of Business Services 2/24/
16 THINGS TO REMEMBER WHEN PURCHASING FIXED ASSETS: Maintenance Agreements Service Contracts Extended Warranties 4. Do not include in the asset cost Fixed Assets Section of Business Services 2/24/
17 FIXED ASSET EXAMPLE: COPIER 2/24/ Fixed Assets Section of Business Services
18 NEW ASSET TAGGING Fixed Assets Section of Business Services 2/24/
19 POLICY FOR NEW ASSETS NO NEW ASSET SHALL BE REMOVED FROM CENTRAL RECEIVING BEFORE BEING TAGGED! Based on the University's inventory and capitalization policies, the Receiving Department staff determines which items will be assigned a tag number and added to the Banner Fixed Assets System. Items $2,500 or greater will be added to the Banner Fixed Asset System and items $5,000 or greater will be added to the Bassets Fixed Assets System. The Receiving Department staff is responsible for physically placing the tag number on the front or other easily accessible area of the asset. Under no circumstances should anyone take an item off campus before the Receiving Department staff has properly tagged it. 2/24/2016 Fixed Assets Section of Business Services 19
20 POLICY FOR NEW ASSETS Barcode tags are required for these new assets with a total cost of $2500 or more: Office Furniture & Equipment Electronic Data Processing Equipment Educational, Scientific and Research Equipment Motor Vehicles (Licensed) Other Equipment (Non-licensed vehicles, grounds & landscaping, etc.) Fixed Assets Section of Business Services 2/24/
21 ANNUAL INVENTORY Fixed Assets Section of Business Services 2/24/
22 DEPARTMENT HEAD DUTIES RESPONSIBILITIES Each department head is responsible for safeguarding all assets purchased for his or her department and assisting with the physical inventory process (see Annual Inventories).. designate an individual in a permanent position on your staff (a student is not an acceptable designee) to physically locate each fixed asset on the attached printouts, which were prepared by our Fixed Assets Coordinator. Any missing/surplused items must be accompanied by a police report and a transfer movable/surplus form. (NO EXCEPTIONS) All Fixed Assets Forms must be signed by the department head and returned to the Fixed Assets Coordinator. 2/24/ Fixed Assets Section of Business Services
23 ANNUAL INVENTORY: DESIGNEE DUTIES Immediately: Call to confirm receipt of inventory packet. During Next Two Weeks: Physically locate each asset and update list, including additions, documentation for assets not located, and new locations of assets. Send updates and all forms to Fixed Assets Coordinator. Call to set up an appointment. Fixed Assets Section of Business Services 2/24/
24 ANNUAL INVENTORY: DESIGNEE DUTIES Any asset listed on the current department inventory must be inventoried. These are the designee s responsibility. This includes: those assets in the process of being properly transferred when the inventory packet is sent out any relocated assets transferred without a properly completed Transfer of Moveable/Surplus Equipment form A properly completed Transfer of Moveable/Surplus Equipment form is required to transfer such an asset to the new location. This form is also the designee s responsibility of the current department. 2/24/2016 Fixed Assets Section of Business Services 24
25 ANNUAL INVENTORY: DESIGNEE DUTIES Before inventory appointment: Request by urgent that all department employees with Off- Campus laptops, portable equipment and instruments bring them in on the day of the appointment for scanning. Arrange for access to all assets listed on inventory: get keys to labs, set up appointments, get combinations to lockers, have students return items, etc. 2/24/2016 Fixed Assets Section of Business Services 25
26 ANNUAL INVENTORY: DESIGNEE DUTIES On the day of scheduled inventory appointment: Escort your Fixed Assets Coordinator to each asset. If assets are missing, during next 10 days: Locate each item or document the status upon receipt of the Missing Assets Report. Call your Fixed Assets Coordinator for an appointment to verify any located missing items at the close of the inventory in 10 days or after. Missing Verification Appointment: Escort the Fixed Assets Coordinator to each located missing asset. 2/24/201 6 Fixed Assets Section of Business Services 26
27 MISSING EQUIPMENT Missing equipment is defined as any asset which is not found during the physical inventory process and for which documents have not been forwarded to the Fixed Asset Section for transfer or disposal. If we have not been taken to the asset to see it, we are required to code it as missing. All assets not found at the close of your inventory will be reported to the Director of Business Services immediately. 2/24/2016 Fixed Assets Section of Business Services 27
28 FORMS Fixed Assets Section of Business Services 2/24/
29 Fixed Assets Section of Business Services 2/24/
30 COMPLETING FORMS PROPERLY All paper Fixed Asset forms must be signed by the dean or highest ranking department head of the custodian department. New versions with new policy format should be printed from our website. These should be used in place of older ones. (Adobe Reader 7.0 or higher). Copies of all FA forms should be kept by the custodian department. Forms should always be submitted to Fixed Assets Coordinator as soon as changes in the asset s inventory status occur! Fixed Assets Section of Business Services 2/24/
31 COMPLETING PROPER FORMS Transfer of Movable/Surplus Equipment: to surplus or transfer assets to other departments. This form can be located under the Surplus section on the Business Services Website. FAS-1 Form: to change the location, description, remove or replace a Fixed Asset. Please complete FAS-1Form under the Fixed Assets section and return to the Fixed Assets Coordinator. Fixed Assets Section of Business Services 2/24/
32 COMPLETING PROPER FORMS If you are reporting any of these transactions you must complete the appropriate forms: Traded-In with authorization from Fixed Assets Stolen/missing with a copy of the police report Exchanged for different assets or returned to the vendor after tagging Junked ( i.e. Used for parts) Destroyed by fire, water damage or accident. Fixed Assets Section of Business Services 2/24/
33 COMPLETING PROPER FORMS Transfer Forms Must be signed by both department heads Should be the responsibility of current department. Can be used to change location only Fixed Assets Section of Business Services 2/24/
34 COMPLETING PROPER FORMS Stolen/Missing assets a copy of the UNCP police report or external police report with the asset tag and serial numbers should be attached to the Inventory form and submitted to Fixed Assets Coordinator for removal of the asset from your inventory. 2/24/2016 Fixed Assets Section of Business Services 34
35 WHAT ALL THIS MEANS Custodian departments are responsible for their UNCP assets including: purchase, protection, location, and proper disposal. Following University policy and procedures during the year will save the department a tremendous amount of searching for missing assets and help maintain inventory accuracy. 2/24/2016 Fixed Assets Section of Business Services 35
36 USING OUR WEBSITE Fixed Assets Section of Business Services 2/24/
37 OUR STAFF & LOCATION Fixed Assets Section of Business Services 2/24/
38 Karen Swiney Interim Director of Business Services Travis Mosley Surplus Property Coordinator OUR STAFF Lorie Pierce Fixed Assets Coordinator Billy Hunt Receiving/Delivery Clerk Fixed Assets Section of Business Services 2/24/
39 OUR STAFF & LOCATION Business Services Staff Karen Swiney Interim Director of Business Services Phone: Lorie Pierce Fixed Assets Coordinator Phone: Business Services PO Box 1510 Pembroke, NC Phone: Fax: Relay Location: Auxiliary Services Building Travis Mosley Property Coordinator Phone: Billy Hunt Receiving & Delivery Clerk Phone: Fixed Assets Section of Business Services 2/24/
40 NEXT STEPS Please read and follow the Inventory Instructions and Fixed Assets Policy/Procedures. Check our website for answers to your questions. Call us. The Fixed Assets staff will be glad to answer any questions about how to follow University policy and procedures. Get ready for your next inventory! 2/24/2016 Fixed Assets Section of Business Services 40
Fixed Assets Policies and Procedures that directly affect
Fixed Assets Policies and Procedures that directly affect Your work, Your budget And your responsibility for protection of WSSU assets as custodian department Banner Fixed Assets Policies and Procedures
FAYETTEVILLE STATE UNIVERSITY
FAYETTEVILLE STATE UNIVERSITY FIXED ASSETS Authority: Category: Issued by the Chancellor. Changes or exceptions to administrative policies issued by the Chancellor may only be made by the Chancellor. Business,
ADMINISTRATIVE PROCEDURE
Categories of Fixed Assets 1. Land -Land as well as the costs incurred in preparing the land for its intended purpose. These costs include, but are not limited to, purchase costs, real estate commissions,
CHAPTER 4. 401. General Purpose... 1. 402. Definitions and Capitalization Policies... 1. 403. Budget Procedures... 2
Kern County Policy and Administrative Procedures Manual CHAPTER 4 CAPITAL ASSET ACCOUNTING Section Page 401. General Purpose... 1 402. Definitions and Capitalization Policies... 1 403. Budget Procedures...
Audit of Milwaukee Fire Department Fixed Assets Controls
Audit of Milwaukee Fire Department Fixed Assets Controls MARTIN MATSON City Comptroller AYCHA SIRVANCI, CPA Audit Manager City of Milwaukee, Wisconsin August 2013 Table of Contents Transmittal Letter...1
Fixed Asset Inventory
Fixed Asset Inventory The purpose of the district-wide fixed asset inventory system is to gather information for the preparation of financial statements, including estimated annual depreciation costs of
Overview. Responsibility
Overview Property management is an important function at the University. Prudent inventory practices help protect the University s multi-million dollar investment in equipment, provide documentation needed
SYSTEM ADMINISTRATION REAL ASSET MANAGEMENT MANUAL
SYSTEM ADMINISTRATION REAL ASSET MANAGEMENT MANUAL Office of Business Operations and Procurement Updated April 2012 TABLE OF CONTENTS TOPIC PAGE Introduction 3 Objectives of the 3 Equipment Definition
CITY OF PORT ST LUCIE FINANCIAL POLICY CAPITAL ASSETS
CITY OF PORT ST LUCIE FINANCIAL POLICY CAPITAL ASSETS I. PURPOSE To provide effective guidelines for the recording, tracking, capitalizing, and safeguarding of the City's Capital assets. II. POLICY In
Property Accountability and Inventory Control. Finance and Accounting
Property Accountability and Inventory Control Finance and Accounting Table of Contents Definitions...1 Definition of Property...1 Library Resources...1 Capitalized Property (Assets)...1 Non-capitalized
6-8013 Control of Fixed Assets
0 0 Yosemite Community College District Policies and Administrative Procedures No. -0 Policy -0 Control of Fixed Assets An up-to-date fixed assets inventory shall be maintained. Overall responsibility
AGATE FIRE PROTECTION DISTRICT RESOLUTION NO. 11-0908 A RESOLUTION OF THE AGATE FIRE PROTECTION DISTRICT BOARD OF
RESOLUTION NO. 11-0908 A RESOLUTION OF THE AGATE FIRE PROTECTION DISTRICT BOARD OF DIRECTORS ADOPTING A CAPITALIZATION POLICY WHEREAS, the Governmental Accounting Standards Board issued Pronouncement #34
ARKANSAS TECH UNIVERSITY
ARKANSAS TECH UNIVERSITY INVENTORY CONTROL MANUAL SEPTEMBER 2005 PROPERTY MANAGEMENT OFFICE 204 BRYAN EXT. 6087 FAX 968-0227 INTRODUCTION The purpose of this Inventory Manual is to present a uniform method
Central Receiving Policies & Procedures Manual North Carolina Central University Central Receiving
Central Receiving Policies & Procedures Manual North Carolina Central University Central Receiving 625 George Street Durham NC 27707 Phone: (919) 530-6441 Fax: (919) 530-6152 Hours of Operation: Monday
Collin County Community College District Business Administrative Services Procedures Manual Section 8 Capital Assets
Revision Log: Collin County Community College District Business Administrative Services Procedures Manual Section 8 Capital Assets Sub Section Revision Date Summary of Change 8.1 Introduction The District
ADMINISTRATION AND FINANCE POLICIES AND PROCEDURES. FIXED & MOVABLE ASSETS ACCOUNTING/INVENTORY CONTROL Revision Date: 01/01/2014 TABLE OF CONTENTS
Chapter 10 ADMINISTRATION AND FINANCE POLICIES AND PROCEDURES FIXED & MOVABLE ASSETS ACCOUNTING/INVENTORY CONTROL Revision Date: 01/01/2014 TABLE OF CONTENTS 10-01 Overview 10-02 Types of Capital Assets
RANDALL COUNTY FIXED ASSET POLICY April 2002 Revised 5/20/2014
RANDALL COUNTY FIXED ASSET POLICY April 2002 Revised 5/20/2014 Fixed Asset Policy 1 I. INTRODUCTION The Taxpayers of Randall County have an enormous investment in our county buildings, land, furnishings,
Equipment Management Guidelines
Equipment Management Guidelines The following guidelines were developed by the CSU Financial Officers Association to assist campuses in implementing Executive Order 649, Safeguarding State Property. Revised
Section 700 Fixed Assets
Section 700 Fixed Assets Section 701 Definition Fixed Assets Section 702 Responsibility for Fixed Assets Section 703 Inventory of Fixed Assets Section 705 Inventory Shortage Procedures Section 706 Inventory
IDAHO STATE UNIVERSITY POLICIES AND PROCEDURES (ISUPP) Physical Inventory and Control of University Property Policy #2360
IDAHO STATE UNIVERSITY POLICIES AND PROCEDURES (ISUPP) Physical Inventory and Control of University Property Policy #2360 POLICY INFORMATION Major Functional Area (MFA): Finance and Administration Policy
SAN FRANCISCO COMMUNITY COLLEGE DISTRICT ADMINISTRATIVE PROCEDURES MANUAL
1 of 6 A. Property Accounting All District Property shall be accounted for through the use of appropriate records and inventory procedures. Deeds shall be properly recorded and safeguarded. All equipment
UNIVERSITY EQUIPMENT
Authority: History: Source of Authority: 05.164 Related Links: Responsible Office: UNIVERSITY EQUIPMENT Vice Chancellor for Business Affairs Effective September 20, 1994; Updated October 16, 1995; Updated
ASU Fixed Assets Departmental Training
ASU Fixed Assets Departmental Training Purpose of This Session Requirement of the business process compliance standards Provide Information for new employees (or new to this position) Refresher Discuss
ASSET MANAGEMENT MANUAL
ASSET MANAGEMENT MANUAL Prepared by The Department of Internal Audit W. Chuck Jackson, Senior Internal Auditor Business Office Sharolyn Miller Chief Financial Officer First Issued July 2000 Revised July
FIXED ASSET ACCOUNTING POLICY
FIXED ASSET ACCOUNTING POLICY OBJECTIVES Establishing and maintaining a fixed asset accounting system is an important task to all governmental agencies. An adequate fixed asset accounting system allows
Capital Asset Accounting Policies POLICY STATEMENT
Responsible Executive: Controller Responsible Department: A&FS Review Date: May, 2015 Accounting & Financial Services Capital Asset Accounting Policies POLICY STATEMENT I. Capital Asset Policy A. General
Fixed Assets. Executive Summary POLICY STATEMENT
Fixed Assets Effective Date 06/30/2009 Approval Date 06/27/2009 Version. Version Date v1.06272009 Policy Number F_FAR_01 Responsible Office Financial and Accounting Services: FAR Executive Summary POLICY
FINANCIAL POLICIES & PROCEDURES USER GUIDE SECTION 15
I. INTRODUCTION The following fixed asset control policies and procedures help ensure proper stewardship of the School s real property which includes land, buildings, improvements to land other than buildings
Louisiana State University Property Management Procedures
Louisiana State University Property Management Procedures Subject: Moveable Property and/or Equipment Use, Maintenance, Identification/Tagging, Disposal, Transfer, and Annual Inventory (Note: BOP 4-5,
Fixed Asset Policy & Procedures. Content
Content 1. Purpose... 3 2. Definitions... 3 3. Responsibility... 3 4. Tagging and Identifying Inventoriable Assets... 4 5. Additions to Fixed Assets... 4 6. Transfer of Assets... 5 7. Disposition of Assets...
FLORIDA ATLANTIC UNIVERSITY. Property Policy
FLORIDA ATLANTIC UNIVERSITY Property Policy 2014 1 Table of Contents 1. PURPOSE 2. INTRODUCTION 3. DEFINITIONS 3.1. Property 3.2. Property Manager 3.3. Accountable Officer 3.4. Surplus 3.5. Salvage 3.6.
Management of Assets Procedure
Management of Assets Procedure Contents 1 Introduction... 3 2 Fixed Assets Register... 3 3 Inventory Registers... 3 4 Capital Asset Purchase... 7 5 Asset Physical Verification... 7 6 Asset Disposal...
Keeping Track of Fixed Assets with Microsoft Dynamics GP LEVERAGING MICROSOFT DYNAMICS GP AND BARCODE TECHNOLOGY
Keeping Track of Fixed Assets with Microsoft Dynamics GP LEVERAGING MICROSOFT DYNAMICS GP AND BARCODE TECHNOLOGY October 2011 ne Need to get a better handle on managing your fixed assets? Panatrack has
GENERAL FIXED ASSETS Fixed Assets Administration
GENERAL FIXED ASSETS Fixed Assets Administration Colorado Revised Statutes (CRS) 22-45-101(2), 22-45-112, 29-1-506(1) and generally accepted accounting principles (GAAP) require that certain records be
Best Practices in. Asset Management. Joe Cayen Cayen Systems October 28, 2014 Nonprofit Leadership Conference, UW-Parkside
Best Practices in Asset Management Joe Cayen Cayen Systems October 28, 2014 Nonprofit Leadership Conference, UW-Parkside It s 10 pm, do you know where your kids are? It s audit time: do you know where
Within the context of this policy, the following definitions apply: A. Fixed Assets A resource that meets all the following criteria:
FIXED ASSETS Effective: July 1, 2011 I. Policy Statement As a part of its obligation to publicly account for the resources dedicated to the education of students of the Howard County Public School System
California State University, East Bay Property Management. Policies And Procedures
California State University, East Bay Property Management Policies And Procedures PROPERTY MANAGEMENT POLICIES AND PROCEDURES Table of Contents 1.0 INTRODUCTION 3 2.0 DEFINITIONS 3 2.1 Definition of Equipment
BOWIE STATE UNIVERSITY ASSET MANAGEMENT POLICY & PROCEDURES MANUAL
Prepare for Life BOWIE STATE UNIVERSITY ASSET MANAGEMENT POLICY & PROCEDURES MANUAL Effective: January 2007 TABLE OF CONTENTS I. Purpose..3 II. III. IV. General Information..4 Property Control....5-11
FIXED ASSET GUIDELINES
2010 FIXED ASSET GUIDELINES ISSUED APRIL 2010 Table of Contents 1.0 INTRODUCTION... 1 2.0 DEFINITIONS... 1 3.0 DEFINING FIXED ASSETS... 2 3.1 Explanation of what constitutes a MUN fixed asset.... 2 3.2
PINAL COUNTY POLICY AND PROCEDURE 8.8. Replaces Policy Dated: January 12, 1981, and subsequent revisions to date
PINAL COUNTY POLICY AND PROCEDURE 8.8 Subject: CAPITAL ASSETS Date: Effective as of July 1, 2009 Pages: 1 of 6 Replaces Policy Dated: January 12, 1981, and subsequent revisions to date Purpose: The purpose
The Asset Management System of Tacoma School District No.10 shall:
Property and Equipment Management Regulation 6211R Objectives The Asset Management System of Tacoma School District No.10 shall: A. Provide for accountability of district land, equipment, vehicles and
TATE COUNTY SCHOOL DISTRICT FIXED ASSET REPORTING TABLE OF CONTENTS BOARD POLICY FIXED ASSET ACCOUNTABILITY ASSET FORM A ASSET REPORTING FORM
TATE COUNTY SCHOOL DISTRICT FIXED ASSET REPORTING TABLE OF CONTENTS INTRODUCTION BOARD POLICY FIXED ASSET ACCOUNTABILITY FORM INSTRUCTIONS ASSET FORM A ASSET REPORTING FORM ASSET FORM B ASSET TRANSFER
INTERNAL CONTROL QUESTIONNAIRE OFFICE OF INTERNAL AUDIT UNIVERSITY OF THE VIRGIN ISLANDS
Cabinet Member or Representative responsible for completing this form: INSTRUCTIONS FOR COMPLETING THIS FORM: Answer each question by placing an X in the either the Yes, No,, or Applicable () column. Provide
E. Custodian - the Vice President for Administrative Services and Finance or designee.
Florida Gulf Coast University Policy Manual TITLE: Tangible Personal Property Policy Policy: 3.033 Approved: 1/13/12 Responsible Executive: Vice President for Administrative Services and Finance Responsible
Fixed Asset Management
Fixed Asset Management Policy/Procedure This policy applies to faculty and staff with responsibility for purchasing, maintaining or disposing of Fixed Assets, including Department Chairs, Department Heads,
Property Management Manual
Property Management Manual written/compiled by Brown University Office of Sponsored Projects I. INTRODUCTION II. WHAT IS EQUIPMENT? A. Memory Upgrades B. Component Parts C. Fabricated Items D. Software
Management of Assets Policy
CREST Management of Assets Policy Version No: Reason for Update Date of Update Updated By 1 Policy introduced April 2012 Finance Office 2 Review incorporates IT Security Internal Audit review February
FIXED ASSET CAPITALIZATION. The Fort Dodge Community School District Fixed Asset Capitalization Policy follows
Policy: 0 FIXED ASSET CAPITALIZATION I. Purpose The Fort Dodge Community School District Fixed Asset Capitalization Policy follows the requirements set forth by the Government Accounting Standards Board
Arkansas State University - Jonesboro Inventory Procedures Manual
Arkansas State University - Jonesboro Inventory Procedures Manual Table of Contents Procedure... 2 Definitions... 2 Property Responsibility... 3 Equipment Purchases... 3 Donated Equipment... 5 Property
Fixed Assets Inventory Procedures
Fixed Assets Inventory Procedures INVENTORY Physical Inventory Overview Physical inventories are conducted to verify the accuracy of the University s property records in the Banner Fixed Assets and Sage
CAPITAL ASSETS. POLICY No. 07-04
CAPITAL ASSETS POLICY No. 07-04 PURPOSE: DEFINITION: To provide for the safeguarding of fixed assets and to provide County personnel with accounting guidance applicable to the several categories of fixed
Office of Business and Finance Asset Management 4.21
OBJECTIVE To ensure the recording and maintenance of capital assets in accordance with state and federal regulations. POLICY Applies to: Any person responsible for purchasing, recording and maintaining
Ithaca College Purchasing Card Policy
Ithaca College Purchasing Card Policy I. Policy Statement Ithaca College maintains a purchasing card program that allows authorized individuals to make specific, business-related purchases of non-travel
Fixed Assets Administrative Policy
Fixed Assets Administrative Policy Approved By: Brandon Gilliland, AVP for Finance and Controller Effective Date 06/30/2009 History: Approval Date 06/27/2009 Revisions: 01/16/2015 Type: Administrative
ASSET MANAGEMENT TABLE OF CONTENTS
ASSET MANAGEMENT TABLE OF CONTENTS Strategic Value... 2 Department Objectives... 2 Programs... 2 Acquisitions... 2 Inventory... 2 Surplus Property... 2 Internet Sales... 3 PC Shop... 3 Construction Accounting...
LAS CRUCES PUBLIC SCHOOLS FIXED ASSETS PROCEDURES
The purpose of this procedure is to define and outline responsibilities for management and control of the District s fixed assets. This procedure applies to all locations and personnel employed by Las
FIXED ASSETS ACCOUNTING PROCEDURES
FIXED ASSETS ACCOUNTING PROCEDURES Responsibility, Accountability and Ownership All fixed assets (land, buildings, fixed equipment, infrastructure, and moveable equipment) are owned by the University and
The assets are recorded in the fixed asset module of the Finance E5 System. This includes all assets with a value over 1,000.
Fixed Asset Register User Procedures Purpose of Fixed Asset Register (FAR) The fixed asset register (FAR) provides a system for the University to keep track of each fixed asset ensuring control over assets
BUSINESS PRACTICES FIXED ASSETS INVENTORY
BUSINESS PRACTICES FIXED ASSETS INVENTORY Prepare and maintain inventory listings for all facilities and departments of all fixed assets, such as land, buildings, machinery, equipment, construction in
PROPERTY MANAGEMENT POLICIES AND PROCEDURES
PROPERTY MANAGEMENT POLICIES AND PROCEDURES [1] PAGE # -CONTENTS- 1 INTRODUCTION 2 USM OFFICE OF PROPERTY MANAGEMENT 2 BASIC FUNCTIONS 2 DEPARTMENTAL LIASON CONTACT 3 USM CAPITAL ASSET AUDITING POLICY
CAPITAL ASSET MANAGEMENT POLICY
CAPITAL ASSET MANAGEMENT POLICY CODE: CATEGORY: RESPONSIBILITY: APPROVAL: APPROVAL DATE: ISSUE DATE: NEXT REVIEW: D.003 ASSISTANT DIRECTOR OF EDUCATION AND ADMINISTRATION BOARD OF TRUSTEES AUGUST 2010
FIXED ASSET ACCOUNTING AND MANAGEMENT PROCEDURES MANUAL. 1 Purpose. 2 Objectives. 3 Scope. 4 Responsibilities
Section 1 1 Purpose The purpose of this section is to establish organizational responsibilities of City departments and managers for fixed asset management, control, accounting, and record keeping and
UW-EXTENSION BUSINESS SERVICES POLICY AND PROCEDURE DOCUMENT (BSPPD) #18 CAPITAL EQUIPMENT
UW-EXTENSION BUSINESS SERVICES POLICY AND PROCEDURE DOCUMENT (BSPPD) #18 CAPITAL EQUIPMENT INTRODUCTION UW-System policy F33 establishes a systemwide policy on the accountability for capital equipment.
INVITATION TO BID. Dear Prospective Bidder:
INVITATION TO BID Dear Prospective Bidder: Your firm is invited to submit a bid on School District Asset Inventories and Appraisals. This bid will include (school district), buildings, and total square
WHO SHOULD READ THIS POLICY
NEW YORK UNIVERSITY Asset Management Policies & Procedures (October, 2010) POLICY STATEMENT New York University requires every school, department, or unit to acquire, record, inventory, and dispose of
Fixed Assets Guidebook
Fixed Assets Guidebook Published by: Financial Services > Controller s Office > Reporting and Fixed Assets Effective: May 2009 Revised: July 2015 UNC CHARLOTTE FIXED ASSETS GUIDE BOOK TABLE OF CONTENTS
PROPERTY AND EQUIPMENT
PROPERTY AND EQUIPMENT Policy: Purchases or acquisitions of property, plant, and equipment shall be properly authorized and accurate records shall be maintained for cost/ acquisition value and accumulated
Asset Management Policy
Asset Management Policy Issue Date: August 2011 Author: Head of Finance Approval Body: Senior Leadership Team CONTENTS Page 1. Policy Statement 3 2. Scope 3 3. Definitions 3 4. Accountabilities and Responsibilities
WESTCHESTER PUBLIC LIBRARY FIXED ASSETS CAPITALIZATION POLICY
WESTCHESTER PUBLIC LIBRARY FIXED ASSETS CAPITALIZATION POLICY INTRODUCTION In accordance with rules adopted by the State Board of Accounts, the Westchester Public Library adopts the following Fixed Assets
FIXED ASSET POLICIES & PROCEDURES
FIXED ASSET POLICIES & PROCEDURES Table of Contents WHAT ARE CAPITAL ASSETS?... 3 LAND... 3 BUILDINGS... 3 CONSTRUCTION IN PROGRESS... 3 LIBRARY HOLDINGS... 3 VEHICLES... 3 ARCHIVES AND COLLECTIONS...
Efficient Asset Tracking: From Manual to Automated
White Paper Efficient Asset Tracking: From Manual to Automated Asset Tracking Overview: Asset Tracking Basics: The Fixed Asset Register Managing a Fixed Asset Register Asset Identification Technologies
PeopleSoft Financials Asset Management Users Guide
PeopleSoft Financials Asset Management Users Guide Asset Management Explained... 3 Tagging an Asset... 3 How to Determine What is an Asset... 4 Requisition Asset Information Entry... 5 Receiving Asset
Financial Instructions
Financial Instructions Contents 1. Definitions & Abbreviations 2. Constitutional Provisions 3. Ministerial Financial Instructions - Background 4. Ministerial Financial Instructions M4 1 Observation of
FEDERAL PROPERTY MANAGEMENT PROCEDURE GUIDE
FEDERAL PROPERTY MANAGEMENT PROCEDURE GUIDE Purpose The Federal Property Management Procedure Guide provides basic procedures for the management of federal property under North Dakota State University
CONCORD UNIVERSITY BOARD OF GOVERNORS
CONCORD UNIVERSITY BOARD OF GOVERNORS Policy No. 12 Policy on Fixed Asset Inventory Effective Date: 05/04/2005 Section 1. GENERAL 1.1 Scope: This policy provides direction for establishing and maintaining
Technology Asset Inventory Policies and Procedures
Technology Asset Inventory Policies and Procedures Table of Contents Technology Asset Accounting... 2 Introduction... 2 Technology Asset Tracking... 3 Roles and Responsibilities... 3 Technology Asset Acquisition...
FIXED ASSET AND INVENTORY TRACKING
Rev. April, 2013 FIXED ASSET AND INVENTORY TRACKING I. INTRODUCTION Asset inventory and tracking systems are an essential part of maintaining control of an organization=s assets. It documents ownership
Executive Summary... 2. Background... 3-5. Objectives and Approach... 6-7. Issues Matrix... 8-9. Observations and Considerations...
Internal Audit Committee of Brevard County, Florida Internal Audit of Asset Management Prepared By: Internal Auditors of Brevard County June 5, 2009 Table of Contents Transmittal Letter... 1 Executive
Board Memorandum. Objective: Establish procedures for the disposal of the District s surplus property within the Fixed Asset and Capital Asset Policy.
Board Memorandum September 24, 2015 To: From: General Manager Tamara Sexton, Business Services Manager Subject: Amend the Fixed Asset and Capital Asset Policy Objective: Establish procedures for the disposal
INVENTORY AND FIXED ASSET POLICY ORANGE COUNTY PURCHASING DEPARTMENT POLICIES AND PROCEDURES
INVENTORY AND FIXED ASSET POLICY ORANGE COUNTY PURCHASING DEPARTMENT POLICIES AND PROCEDURES 714 Polk Street Orange, Texas 77630 409-882-7902 ORGANIZATION AND AUTHORITY ORANGE COUNTY COMMISSIONERS COURT
Daniliz Ortega, Accounting Manager Tera VanDyke, Accountant NW Regional ESD
Daniliz Ortega, Accounting Manager Tera VanDyke, Accountant NW Regional ESD Accounts Payable (AP) Vendor maintenance W-9 s, correspondence Vendor payments Contracts Employee reimbursements Deposits Bank
ACCOUNTING BY GOVERNMENTAL ENTITIES ACCOUNTING AND CONTROL OF FIXED ASSETS OF STATE GOVERNMENT, ACCOUNTING FOR ACQUISITIONS AND ESTABLISHING CONTROLS
This rule was filed as 1 NMAC 1.2.1. TITLE 2 CHAPTER 20 PART 1 PUBLIC FINANCE ACCOUNTING BY GOVERNMENTAL ENTITIES ACCOUNTING AND CONTROL OF FIXED ASSETS OF STATE GOVERNMENT, ACCOUNTING FOR ACQUISITIONS
FIXED ASSET ACCOUNTING AND MANAGEMENT PROCEDURES MANUAL. 1 Purpose. 2 Scope. 3 Guidelines. SECTION 2 Asset Valuation
Section 2 1 Purpose The purpose of this section is to define procedures and organizational responsibilities for establishing total fixed asset acquisition costs. All fixed assets and controlled items acquired
Number: 1-3 Date Issued: July 15, 1999 Date Revised: October 26, 2010. Subject: Responsible Department: Approved: Purpose. Definitions of Terms
ADMINISTRATIVE ORDER Subject: Responsible Department: Financial Fixed Assets Inventory Finance Number: 1-3 Date Issued: July 15, 1999 Date Revised: Approved: Purpose To establish a uniform policy for the
Asset management policy
Asset management policy POL-C-002 Version 3.1 26 February 2007 Contents 1. Title... 3 2. Introduction... 3 3. Scope... 3 4. Principles and guidelines... 3 5. Definition of responsibilities... 10 6. References...
UNIVERSITY OF NORTH GEORGIA EQUPMENT/INVENTORY MANAGEMENT PROCEDURES MANUAL
Purpose: The purpose of this document is to assist UNG personnel in day to day equipment inventory control functions. Proper maintenance of this equipment inventory is necessary to achieve correct financial