Asset Management, Insurance & Surplus Property - … Management, Insurance & Surplus Property...
Transcript of Asset Management, Insurance & Surplus Property - … Management, Insurance & Surplus Property...
Asset Management, Insurance & Surplus Property
September 29, 2015
Asset Management
Presentation Overview
What is Asset Management?
Departments’ Role in Asset Management
Annual Equipment Inventory
Looking Up Asset Information
Additional Training?
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
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
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 691020 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
Departments’ Role in Asset Management
Departments’ Role in Asset Management
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
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
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
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
Inventory Totals List
iDashboards UND-AM Inventory Finder
New Users: to obtain access, please send the following information to Becky Lucke at [email protected]
First and last name
IDM
(credentials you use for PeopleSoft. Example: john.doe)
Email Address
Inventory Totals List
iDashboards UND-AM Inventory Finder
Go to iDashboards at https://dashboards.und.edu/
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
Inventory Totals List
Inventory Totals List
iDashboards UND-AM Inventory Finder
Select Department from the drop down list
Select Inventory Type
Major
Minor
Both
Inventory Totals List
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
Inventory Totals List
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”
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”
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”
Inventory Totals List
NDU_AM20 query in PeopleSoft Finance
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
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
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
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
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
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 (http://und.edu/finance-operations/asset-management/forms.cfm)
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
Minor Inventory Template
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
Minor Equipment Inventory Example
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 7-3341
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)
Inventory Verification Report Form
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: http://und.edu/finance-operations/asset-management/forms.cfm
Equipment Transfer and Status Form
Equipment Transfer and Status Form
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
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: http://und.edu/finance-operations/asset-
management/_files/docs/how-to-search-for-an-asset.pdf
Additional Training?
What additional Asset Management training would be helpful to departments?
What reports in Asset Management would you like to see?
Additional suggestions?
Helpful Resources
Asset Management: Tel: 701-777-3126 Email: [email protected] Website: http://und.edu/finance-operations/asset-management/
Surplus Property (Facilities Management): Tel: 701-777-3125 Mike Hess Email: [email protected] Website: http://und.edu/finance-operations/facilities-management/surplus-property.cfm
Bob Johnson, Office of Safety (Insurance):
Tel: 701-777-3341 Email: [email protected]