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.