Objectives. Policies and Procedures. Why is Asset Management Important? Definitions of asset (property) types. Capital vs.

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2 Objectives Plicies and Prcedures Why is Asset Management Imprtant? Definitins f asset (prperty) types. Capital vs. Cntrlled Assets Rles and Respnsibilities f Agency Head, University Asset Management Crdinatr, and Departmental Prperty Custdian Identificatin and Tagging f assets Dispsitins f assets Dnatins, transfers, trade-in, bslete, returns, surplus, lst, missing and stlen Varius Asset Management Frms Annual Physical Inventry Verificatin - Key Elements PepleSft Asset Management System (PSAM) Hw t use as a resurce Federally Titled Prperty Curse Enrllment and Cntact Infrmatin

3 Plicies and Prcedures The plicies and prcedures cvered are in accrdance with the University f Hustn-Clear Lake plicies and University f Hustn System Administrative Memrandum listed belw: SAM 03.E.02, Prperty Management UHCL Accunting Handbk Frms Hyperlink FMC Wrk Order Request

4 Why is Asset Management Imprtant? State funded Institutin assets accunted fr and prperly maintained Be in cmpliance with Federal, and State Guidelines Accurate and timely recrds gives gd audit results N reductin in apprpriatins Maximizes use f Resurces Prvides accurate insurable values Identify saleable/surplus assets Prvide lwest inventry investment Prper stewardship f assets and supplies Accurate and timely recnciliatin and reprting

5 Definitins Capital Asset Real r Persnal Prperty that has an estimated life f greater than ne year with a value equal t r greater than capital threshld established fr the asset type. Real Prperty - Land, Building, Infrastructure, Cnstructin in Prgress. Persnal Prperty - Furniture & Equipment, Vehicles, Bats, Aircraft, Library Bks & Materials, Wrks f Art, Cmputer Sftware, intangible assets etc. Capital Asset Class Land/Land Imprvements Threshld Capitalize All Building/Building Imprvements $100,000 Facilities and Other Imprvements $100,000 Infrastructure $500,000 Persnal Prperty $5,000 Library Bks/Materials (Cllectins) Wrks f Art/Histrical Treasures Capitalize All Capitalize All Purchased Sftware $100,000 Leasehld $100,000

6 Definitins State Cntrlled Asset Persnal Prperty due t its high risk nature, and with a value, less than capital threshld has t be reprted t State Cmptrller s Office. State Cntrlled Asset Class Threshld Hand Guns, Rifles, Shtguns $0 Sund Systems, Prtable Cameras, Televisin, Vide Players, Recrders, Desktp Cmputers, Laptp Cmputers, Smartphnes, Tablets, Data Prjectrs $500 t $4, Cannibalizatin the authrized remval f cmpnents frm ne item f prperty fr installatin n anther item f prperty t meet a specific requirement and/r t return an item t service. Fabricatin Using cmpnent parts t build a piece f equipment, where in the value f the equipment built meets r exceeds the capitalizatin threshld f $5,000

7 Definitins Federal Prperty Items that are furnished t the University by the Federal Gvernment r are acquired thrugh a Federal cntract r grant. Title t this prperty remains with the Federal Gvernment unless it is expressly vested with the University r until the University fulfills cntractual terms which permit title transfer. Surplus/Salvage Prperty Prperty which thrugh use, time, r accident becmes depleted, wrn ut, damaged r bslete and can n lnger serve the purpse fr which it was initially intended. Surplus prperty may be cannibalized with apprpriate dcumentatin.

8 Rles and Respnsibilities Institutin/Agency Head The agency head shuld ensure that the agency maintains adequate internal cntrl prcedures. Each agency head must designate a prperty manager. Cmplete the Ntice f Agency Head and Designatin f Prperty Manager. frm (73-286) t infrm the Cmptrller s ffice f the designee. Prperty Manager/Asset Management Crdinatr The custdian f all prperty in the pssessin f the institutin/agency. Respnsible fr maintaining the required recrds f physical inventry. Prperty managers have update capabilities fr all assets in PSAM/SPA system. Must maintain cpies f the rules, prcedures and ther apprpriate dcumentatin fr managing the institutin s/agency s prperty as frmulated by the Cmptrller s ffice. Ensure that the prcedures fr accuntability and safeguarding f the agency s prperty cmply with Cmptrller s ffice rules and requirements.

9 Rles and Respnsibilities Departmental Prperty Custdian Designated department is in cmpliance with the inventry cntrl prcedures as shwn in Accunting Handbk > Asset Management Capital and cntrlled assets received (by means ther than purchase) are reprted t Asset Management in a timely manner via Asset Update Frm Prperty is nt laned, traded, discarded, mved r cannibalized withut prir apprval f Asset Management. Prperty is nt defaced r damaged in any way. If s, it is reprted t Asset Management in a timely manner via Asset Update Frm Prperty is nt returned t a vendr as a trade-in withut apprval f Asset Management. In the case f cmputers/printers, btain prir apprval frm University Cmputing and Telecmmunicatins (UCT). Apprpriate dcumentatin n bslete and excess prperty (capital and/r cntrlled nly) is submitted t Asset Management fr apprval prir t dispsal. Equipment is used fr its intended purpse by prperly trained persnnel Ensure prperty within the Department is tagged and listed in the Departmental Inventry f Physical Prperty. All items lcated ff-campus are dcumented in the Off-campus Authrizatin Frm

10 Identificatins and Tagging Assets may be identified/received by the Receiving Department; UCT; End User; Requesting Department; and/r Asset Management. Asset Tagging Why Ownership identificatin What Capital and Cntrlled assets Hw Barcde tags nly Wh UCT and/r General Accunting-Asset Management Only Where Visible t all Key Elements Asset Assigned department; Physical Lcatin (Obtained frm Requisitin/Purchase rder r frm UCT Wrk Order r via Asset Update Frm) Federal Prperty requires a separate barcde tag that begins with G. Dnatins Inbund - Must be apprved in advance by University Advancement Office, AVP fr Finance, and Asset Management. Frms available thrugh University Advancement Office r Asset Management Office.

11 Dispsitins f Assets Mst cmmnly used dispsitin methds at UHCL are: Trade-in - ne asset is acquired by the exchange f anther asset. A state agency may ffer surplus r salvage prperty as a trade-in n new prperty f the same general type if the exchange is in the best interest f the state. Obslete - Prperty which thrugh use, time r accident becmes depleted, wrn ut, damaged and can n lnger serve the purpse fr which is was riginally intended. Surplus Surplus Prperty may be dispsed f Thrugh UCT fr all data prcessing equipment Thrugh Facilities, Management and Cnstructin (FMC) (fr all nn-data prcessing equipment), by submitting a wrk rder fr pickup and cmpleting an Asset Update Frm Asset Management will crdinate remval f prperty tags with UCT and/r FMC Dnatins Outbund - Only t Independent Schl Districts r ther State Institutins. Must crdinate thrugh Asset Management. Receiving agency must request (n letterhead) the specific prperty in advance f the dnatin. Departmental apprvals are required.

12 Dispsitins f Assets Return Prperty returned t vendr fr vendr credits Transfers between Texas Agencies: Agreement and apprval btained frm Agency/Department Heads. Send dcumentatin t UHCL Asset Management t facilitate the bkkeeping, tag assignment r remval. Lst/Missing Prperty lst, missing, stlen must be reprted t Asset Management immediately with apprpriate dcumentatins. Failure t prperly track and reprt missing prperty wuld represent negligence r fraud. Every effrt must be made by department t lcate missing assets. Stlen Prperty User: User: User: Cntact the lcal plice department and/r cntact UHCL Plice Reprt all relevant facts t Plice. Obtain a cpy f the plice reprt. Prp. Custdian: Cmplete an Asset Update Frm and submit t Asset Management. Check the bx fr Lst/Stlen. Attach a cpy f the Plice Reprt. Nte 1 - If a mbile COMPUTER device is lst r stlen, User als fllws the UCT-issued guidelines that end-users receive frm UCT, in additin t the abve. Nte 2 - All f the dispsitins require an Asset Update Frm except cmputer replacements wherein cmputers are traded-in t vendr MDL. UCT will prvide the infrmatin n trade-ins. Asset Management will update PSAM based n the infrmatin received frm UCT. Individual department/s have the respnsibility t review their Prperty Management reprts n a mnthly basis and cmmunicate any discrepancies via Asset Update Frm.

13 Varius Asset Management Frms During the Year: Asset Update Frm Asset - Prperty Dnatin Frm Off-Campus Assets Authrizatin (Initial; Returned prperty) Change f Department Prperty Custdian Annually (Beginning f Fiscal Year) Designatin f Department Prperty Custdian Certificatin f Departmental Annual Physical Inventry Authrizatin fr Off-Campus Assets (Initial; Renewal) Nte: Additinal infrmatin/dcuments may be requested n Stlen/Lst ; Cannibalized; Dnated Prperty.

14 Annual Physical Inventry Verificatin Key Elements UHCL Tag number Serial Number Lcatin: Building; Flr; Rm; Suite Off-Campus Physically verify that the emplyee has pssessin f the asset Cnditin f the Asset Gd, Fair, Pr Nte: Class Indicatr n the Prperty Management Reprt TDCJ - Asset is pending t be transferred t TDCJ. N physical verificatin is required by the Prperty Custdian fr these assets. TSPM Asset is temprarily stred by Prperty Management in the basement pending surplus/auctin due t space availability r pending instructin frm FMC. N physical verificatin is required by the Prperty Custdian fr these assets. PP Asset is a persnal prperty and is in-service. Physical verificatin f the asset is required. AT Asset has an assigned tag. Physical tag nt n the asset due t the nature f the asset. Physical verificatin f the asset is required. Off Campus Asset is ff-campus. Physical verificatin f the asset is required.

15 PepleSft Asset Management System (PSAM) Hw t use as a resurce Custm Reprts Establish run cntrl fr department prperty listing

16 Federally Titled Prperty If prperty is funded by a Federal Grant, r furnished t the University by the Federal Gvernment, the prperty tag number will begin with a G. Specific infrmatin abut these assets are maintained in the Asset Management inventry recrd. The capital threshld fr federally titled assets are $5,000. Departments with such prperty are required t: Cmply with all Asset Management guidelines, plicies, and prcedures. Inventry the prperty annually. Ntify Asset Management f impaired assets that require a change in cnditin frm gd t fair r pr. Ensure that equipment is prperly maintained and used fr award purpses until the funding ends r the equipment is nt needed. Obtain Office f Spnsred Prgram (OSP) and Asset Management s apprval fr all asset transferred r dispsed. The Grant may stipulate unique dispsal actins. This rule is effective fr Grants Awarded after 12/26/2014 n retractive tagging.

17 Cntact Infrmatin Prperty Custdian Training Sign Up Instructin Click here UHCL General Accunting - Asset Management Nrth Office Annex (NOA) II - Mail Cde Phne (281) GeneralAcctg@uhcl.edu

18 Cngratulatins! Please prceed t cmplete and pass the curse quiz t receive credit fr the Prperty Custdian training curse.