property inventory 101 property inventory1may 2011
TRANSCRIPT
Property Inventory 101
Property Inventory 1May 2011
Plant Assets Land
Buildings
Improvements Other Than Buildings (IOB) Roads, parking, sidewalks
Usually called Infrastructure
Equipment Both Movable and Fixed
Property Inventory 2May 2011
Get IBIS Access to: Property Inventory System (Equipment)
M2PI: menu for equipment• ITAG function to see individual tag numbers
M3PB: menu for equipment• 13 Browse Screens
Facilities System (Buildings & IOB) M3BL: menu for buildings and IOB
IFBD function to see individual building number
IFAR function to see individual addition/renovation to a building number
BFBD = browse by building code
BFBL = browse by building number
Property Inventory 3May 2011
What is equipment? Single item that:
Has a value of $5000 or more and
useful life of two (2) or more years.
Property Inventory 4May 2011
Equipment Descriptions: Basic tag number is 8 numerical bytes and 1 alpha byte.
example: 00123456 Computer
00123456A Cost On
The alpha byte is not a real tag, it is part of the main equipment item. If it states:
Property Inventory 5May 2011
Descriptions: Cost On = multiple funds purchased item or it was paid over
multiple fiscal years
Trade In = a tagged item was traded in and there was net value left on the traded in item.
Upgrade = the main item was upgraded
Accessory = items that add value, usually purchased to aid in the usage of the item
Property Inventory 6May 2011
Disposing of Equipment“DISP” on IBIS, or Form GF6.2 Verify Ownership – You can only dispose of equipment that is
University Owned
Verify that the equipment is in your Administrative Area
Send forms to Property Inventory after required signatures; we send them to Salvage
List the tag or serial number
Send forms for stolen items
Property Inventory 7May 2011
Object Classification Codes (OCC) which you need to know: 452 – Software (Non-Capital)
Less than $100,000
License Fees (usually multiple users)
716 – Software (Capital) More than $100,000
Example – Oracle (Basic charge; usually doesn’t include user charges)
Property Inventory 8May 2011
Computer OCC: 480 – Computer & Accessory Equipment
Non-Capital
Costs Less than $5,000
751 – Computer & Accessory Equipment Capital
Costs $5,000 or more
Property Inventory 9May 2011
Computer consists of: CPU
Monitor
Keyboard
Mouse
Cabling
Internal items such as memory, boards, etc.
Initial operating software
Property Inventory 10May 2011
Items not considered a computer: Printer
External disk drive
Scanner
External storage drive
Video Camera
Optional software
Property Inventory 11May 2011
Non-Capital Equipment OCC: 459 – Items more than $1,000 but less than $5,000
This code is non-computer equipment examples:
• Adding machines
• Automatic staplers
• Office Furniture
Property Inventory 12May 2011
Fabrications – OCC 705 Guidelines are available in your packet.
You must ask permission in writing to the Supervisor of Property Inventory to use this classification code prior to using the code.
Upon completion of the item being built you must email the Supervisor of Property Inventory to get this item tagged and entered into the Property Inventory System.
Property Inventory 13May 2011
OCC 711 Non-PSU title – Penn State does not own this equipment Do not confuse with Government, Sponsor or Leased/Loaned
Equipment Call prior to using; the Supervisor of Property Inventory needs a
detailed reason for allowing the use of 711 in an email or memo
We also use this for equipment items that may be: Sent into space and not returning
Heading to the bowels of a volcano
Sensors at the bottom of the sea
Property Inventory 14May 2011
Note Pad Area
Please utilize the note pad areas on documents to tell Property Inventory:
Tag number of item being traded-in
Tag number of item being upgraded
Pertinent information to help us find the item
Special circumstances…such as Sponsor requires all equipment items over $2500 to be tagged.
Property Inventory 15May 2011
Government Or Sponsor Owned Equipment
Government Acquired - Purchased by Penn State We will tag at whatever the contract states; usually $5000 and above; under
$5000 is normally University Owned
Government Furnished (GFE) – Provided by the Government We tag it all
Property Inventory 16May 2011
Government Owned Equipment:
Prior written approval from the Government’s Administrative Contracting Officer and/or Sponsor is required to:
Transfer or Loaned Out
Upgrade or Disassemble
Disposed of or Destroyed
Traded-in or Sold
Property Inventory 17May 2011
Government Owned Equipment (continued):
As a standard practice the respective administrative area’s:
Financial Officer and
Research Administration Office should: first review any action involving Government Owned Equipment
Then contact Property Inventory for instructions on how to proceed
Property Inventory 18May 2011
Government Owned Equipment (continued):
Contact Property Inventory immediately if you discover that a Government Owned equipment item is:
Hand carried to Penn State and not tagged with Penn State tag
Missing
Not being utilized
Property Inventory 19May 2011
New Professors/Researchers Did they bring any equipment with them?
Whose equipment is it?
Property Inventory needs to know: Is it Government Owned?
Is the proper paperwork completed and where is the paperwork?
Its value, condition, model and serial numbers, contract numbers, etc.
Property Inventory 20May 2011
Professors/Researchers Leaving: See BS 15 in GURU for specific details on how to proceed
They must complete the requirements for taking the equipment with them?
Property Inventory 21May 2011
Procedures to review CR2019 – Accounting for Capital Equipment
CR2055 – Pre-acquisition Screening & Shared Use of Federally Funded Capital Equipment
CR2068 – Property Inventory Depreciation & Usage Fee Guidelines
BS2011 – Salvage & Surplus Operations Including Sales Store
Property Section in GURU
Appendix 9 (Object Classification Codes)
Property Inventory 22May 2011