asset management: preparing for fiscal year-end presented by christa hodgson

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Asset Management: Preparing for Fiscal Year-End

Presented by Christa Hodgson

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Expectations Accuracy

All capital assets must be in SMART The costs should be up-to-date All capital assets must have a fund Capital assets must have the CAFR book Noncap assets should only have the STATE book

Timeliness Assets should be entered in AM either through integration or manually via Express Add in the same period the asset was acquired

Corrections AM Team periodically reviews Profiles being used

Emails sent to agencies with incorrect profiles Agency’s responsibility to correct and log Help Desk ticket

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Forms/PPM 13,001 The following form will still be required at fiscal year-end:

DA-82 Certification of Inventory Due August 31 K.S.A 75-3729

The following forms will no longer be utilized: DA-83 Corrections or Additions to Capital Asset Records DA-84 Land (for additions and deletions) DA-86 Buildings (for additions and deletions) DA-87 Capital Asset Reporting Form DA-110 Disposition of Property Form

PPM 13,001 is being revised

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Monthly Checklist

Outstanding Interface ID’s Reviewing Transaction Loader Tables job aid

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Monthly Checklist (continued)

Validation that correct Profile was used for all added assets

Corrections from AM Team’s Emails

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Comprehensive Annual Financial Report (CAFR) Preparation A&R will pull balances for each Balance Sheet Category

Important to make sure only capital assets have the CAFR Book because it generates accounting entries

No action on agency’s part as long as costs have been validated and all assets have the correct Books

Balances should be accurate by 06/30/2011

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Reports to Aid in Physical Inventory Assets by Custodian Asset Management > Financial Reports > Assets by Custodian

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Reports to Aid in Physical Inventory Assets by Custodian

Displays all active assets by their current custodian Page breaks on each new custodian Displays values for the following fields per Asset ID:

Location Code Area ID Description Tag Number Serial ID VIN In-Service Date Manufacturer Model Parent ID Parent Description

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Reports to Aid in Physical Inventory Assets by Location Asset Management > Financial Reports > Assets by Location

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Reports to Aid in Physical Inventory Assets by Location

Displays all active assets by their current location Page breaks on each new location Displays values for the following fields per Asset ID:

Area ID Custodian Description Tag Number Serial ID VIN In-Service Date Manufacturer Model Parent ID Parent Description

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Reports to Aid in Physical Inventory Asset Inventory List Asset Management > Financial Reports > Asset Inventory List

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Reports to Aid in Physical Inventory Asset Inventory List

Displays values for the following fields per Asset ID: Description Serial ID Tag Number Acquisition Date In-Service Date Asset Status Life Location Code Custodian Name Cost

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Reports to Aid with Audit

Asset Acquisitions by ChartField Asset Management > Financial Reports > Asset Details > Acquisitions

Use the Fiscal Year/Period Range box—not Date Range

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Reports to Aid with Audit

Asset Acquisitions by ChartField Lists out the following fields per Asset ID:

In Service Date Begin Depreciation Date Useful Life Cost Balance Year-to-date Depreciation Life-to-date Depreciation Net Book Value

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Reports to Aid with Audit

Retirement by ChartField Asset Management > Financial Reports > Retirement > Retirement Information

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Reports to Aid with Audit

Retirement by ChartField Lists out the following fields per Asset ID:

Disposal Code End Depreciation Date Retirement Date Cost Balance Accumulated Depreciation Proceeds Removal Cost Gain/Loss

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Report Format Template

See Help Desk Solutions Article 596

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Other AM Updates

Construction in Progress Assets (CIP) Project Costing module will not be used to track CIP assets Job Aid in progress

Agency Blast will be sent when complete KANView Assets Query

Currently in development All capital assets will be included

Make sure costs are up-to-date

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Questions?