Asset Management, Insurance & Surplus Property - … Management, Insurance & Surplus Property September ... the asset is disposed of in PeopleSoft . ... •Asset Management will delete

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?


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


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


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




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


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


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


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


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

mailto:[email protected]



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

https://dashboards.und.edu/




Select Department from the drop down list

Select Inventory Type

Major

Minor

Both




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



NDU_AM20 query in PeopleSoft Finance

Navigation: Reporting Tools > Query > Query Viewer

The screen below will appear

Type in “NDU_AM20” and click “Search”



Once you click Search, the Search Results appear

Click on the hyperlink for “Run to Excel”



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”





The File Download box will appear

Click “Save” to download and open the file

Save the file onto your hard drive



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

http://und.edu/finance-operations/asset-management/forms.cfm







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


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)



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









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


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

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]


http://und.edu/finance-operations/asset-management/







http://und.edu/finance-operations/facilities-management/surplus-property.cfm









Documents

Asset Management, Insurance & Surplus Property - … Management, Insurance & Surplus Property September ... the asset is disposed of in PeopleSoft . ... •Asset Management will delete