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

Similar documents
SMITHSONIAN ASTROPHYSICAL OBSERVATORY

Closing Out Award. The PI will work with ORA in obtaining the applicable resolution. Residuals

NATCHITOCHES HISTORIC DISTRICT DEVELOPMENT COMMISSION STATE OF LOUISIANA

INDEPENDENT ACCOUNTANTS' REPORT ON APPLYING AGREED-UPON PROCEDURES

ARIZONA FIRE DISTRICT ASSOCIATION FINANCIAL PROCEDURES POLICY

Audit Follow Up. Citywide Cash Controls Development and Transportation Services (Report #0134, Issued August, 2001) As of March 31, 2002

University of Central Florida

University of Pittsburgh Office of the Controller General Accounting

NUMBER: BUSF 3.30 Business and Finance. Other Educational and General Program Accounts ("E" Funds) Date: October 18, 2006 I. PURPOSE OF THE POLICY

Standard Operating Procedure Payment Requisition

TWU OFFICE OF RESEARCH & SPONSORED PROGRAMS INSTRUCTIONS FOR USING THE TWU PROPOSAL APPROVAL ROUTING FORM

Agency Reorganization Process

UNLV Purchasing Card Manual Revision 6.0 Release Notes. December 1, 2016 III. DEFINITIONS CONTACTS

REFERENCE NUMBER: PFS.PDS.115. TITLE: Patient Billing and Collections CURRENT EFFECTIVE DATE: 01/01/2018. PAGE 1 of 8 SCOPE:

Purchasing CARD PROCEDURES

INDEPENDENT ACCOUNTANTS' REPORT ON APPLYING AGREED-UPON PROCEDURES

STATE OF NEW YORK MUNICIPAL BOND BANK AGENCY

Staff Separation Checklist

UGA P Card Manual: Section Relevant Changes Comments October 1, 2012

Instruction Page. Verification of 2014 Income Information for Individuals with Unusual Circumstances

NHCAC North Hudson Community Action Corporation

Effective Practices for Managing Student-Athlete Insurance

2017 BUSINESS TAX ORGANIZER

EXECUTIVE SUMMARY INTERNAL AUDIT REPORT. IOM Kingston JM JULY 2017

UCSD - Audit & Management Advisory Services - Internal Control Questionnaire

2018 NEW BUSINESS CLIENT TAX ORGANIZER

County of Riverside OFFICE OF THE AUDITOR-CONTROLLER STANDARD PRACTICE MANUAL

Alcohol Policy. The service of alcohol on campus focuses on beer, wine, and champagne.

FCM Grant Preparation Process:

Research Data Request Form

Guidelines for submission to the NSW Population and Health Services Research Ethics Committee. Version June 2015

Clearing arrangements

BLOUSTEIN SCHOOL POLICY

Administrative Policies and Procedures Information Security Program Procedural Handbook for Line Managers and Supervisors (ISPHB02)

Renewing an Insurance Policy

1. REIMBURSEMENTS FOR EXPENSES: 2. REQUESTING CHECKS:

Yelm Prairie PTO - Audit Worksheet Responsibilities The auditors need to complete their report by: Frequency of Audit Audit Committee/Auditor

Final Audit Follow Up

Requirements and Best Practices for Payroll Expense Transfers (PETS)

BLOUSTEIN SCHOOL POLICY

ENTERPRISE INCOME VERIFICATION (EIV) SECURITY/USER POLICY. Our Business is You. Purpose:

Producer Statements will be accepted only in accordance with this policy.

Policy on Requesting Reasonable Accommodations from the Zoning Code

Key issuing Procedure

Transfer Account Instructions

Windham School District Procurement Policy for Federal Funds

Siding Program Application

This policy outlines the Company s guidelines, expectations and requirements related to:

STUDENT EMPLOYMENT FORMS PACKET

address: Driver license number: Date of birth: Occupation:

Position Description: Contracts Administrator Reports to: Project Manager

Privacy & Data Protection Policy

Employee Hardship Assistance Policy

Kitsap County Telecommuting Policy

Resolution Adopting a Financial Management Policy

Workers' Compensation Employee's Guide

Environmental Health & Safety Requirements for Master Agreement of Services

2016 NEW BUSINESS CLIENT TAX ORGANIZER

Cross Reference: 24 CFR Parts 91 and 92. Table of Contents

APPLICATION FOR ADMISSION 2019

Approval Process and Arrangements for University Consultancy Work

HOC Works Program Requirements

Institute For Orthopaedic Surgery (IOS) Subject: Billing and Payments: General Guidelines

Allowable Costs on Sponsored Projects: Policy & Operational Procedure

CRG PATIENT REGISTRATION FORM

There are two ways to submit your banking information for direct deposit into your personal bank account:

SRP Business Solutions: Electric Technology Rebates Forklift Rebate Application (Customer)

REPRESENTATIVE PAYEE PROGRAM T. O. D., Inc.

Record Keeping and Notes in Records for Claims Adjusters

Thank you for your consideration, and if you have further questions or you need more information, please do not hesitate to contact me.

REGISTERED TRAINING ORGANISATION RTO (41056) Fees and Refunds

What to Do Who How to Do It Purchasing Card Procedures: Purchase to Reconciliation

Vacant Home Program Application

PAYMENT BY CARD TERMS & CONDITIONS

Northern Michigan University Guidelines on Match/Cost Share of Sponsored Programs

Town of Palm Beach Retirement System. Deferred Retirement Option Plan (DROP) Policies and Information for Participants

These Budget Preparation Guidelines are primarily directed towards preparation of the Operating Budget and Supplemental Items.

WV INCOME MAINTENANCE MANUAL. Specific Medicaid Requirements

FOR PLAN ADMINISTRATORS

Queen s University Housing & Hospitality Services Residence Agreement. Graduate Students - Confederation Place Hotel

DEPARTMENTAL STAFF: LEAVE GUIDELINES

Township. Public Summary of FOIA Procedures and Guidelines

TD Bank Mobile Deposit Addendum to the Online Banking Service Agreement

VA Mortgage Lender License New Application Checklist (Company)

Relocation/Moving Procedures for New Employees

Albemarle Police Department. Trade Contractor Pre-qualification

VOLUNTEER REGISTRATION FORM

Best Practice in Gift Agreements

EMERGENCY RESPONSE GUIDELINES

MICRO GROUP EMPLOYER DOCUMENTATION REQUIREMENTS

Iberville Parish School Board

Local Code Of Corporate Governance

Institute For Orthopaedic Surgery (IOS) Subject: Healthcare Financial Assistance Policy

CAREVEST MORTGAGE INVESTMENT CORPORATION Directions for Completing Retraction Requests

TERMS OF REFERENCE FOR THE PROVISION OF OUTSOURCED INTERNAL AUDIT SERVICE

HASSRA Finance Bulletin Issue 2 October Key messages

Lawrence Berkeley National Lab. Observations from Audit Procedures September 15, 2006

[AGENCY NAME] Mandate and Roles Document. (Pure Advisory Committees)

Western Management PO Box San Jose, California

CITY OF GREATER SUDBURY PROGRESS PAYMENT STATEMENTS, PROGRESS PAYMENT CERTIFICATE AND INVOICING PROCEDURE. ENG-PM-S001 v.1.01

Transcription:

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

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 http://www.uh.edu/af/universityservices/plicies/sam/3ficsalaffairs/3e2.pdf UHCL Accunting Handbk https://www.uhcl.edu/abut/administrative-ffices/finance/handbks/ Frms Hyperlink https://www.uhcl.edu/abut/administrative-ffices/finance/frms FMC Wrk Order Request www.uhcl.edu/fmc

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

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

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 $4,999.99 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

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.

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.

Rles and Respnsibilities Departmental Prperty Custdian Designated department is in cmpliance with the inventry cntrl prcedures as shwn in Accunting Handbk > Asset Management https://www.uhcl.edu/abut/administrative-ffices/finance/handbks/dcuments/asset-management.pdf 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

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.

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.

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.

Varius Asset Management Frms https://www.uhcl.edu/abut/administrative-ffices/finance/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.

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.

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

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.

Cntact Infrmatin Prperty Custdian Training Sign Up Instructin http://www.uh.edu/adminservices/pass/trainingenrllment.htm Click here UHCL General Accunting - Asset Management Nrth Office Annex (NOA) II - Mail Cde 104 - Phne (281) 283-2050 GeneralAcctg@uhcl.edu

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