1 / 19

Asset Management: Preparing for Fiscal Year-End Presented by Christa Hodgson

Asset Management: Preparing for Fiscal Year-End Presented by Christa Hodgson. Expectations. Accuracy All capital assets must be in SMART The costs should be up-to-date All capital assets must have a fund Capital assets must have the CAFR book

flower
Download Presentation

Asset Management: Preparing for Fiscal Year-End Presented by Christa Hodgson

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Asset Management: Preparing for Fiscal Year-End Presented by Christa Hodgson

  2. Expectations • Accuracy • All capital assets must be in SMART • The costs should be up-to-date • All capital assets must have a fund • Capital assets must have the CAFR book • Noncap assets should only have the STATE book • Timeliness • Assets should be entered in AM either through integration or • manually via Express Add in the same period the asset was • acquired • Corrections • AM Team periodically reviews Profiles being used • Emails sent to agencies with incorrect profiles • Agency’s responsibility to correct and log Help Desk ticket

  3. Forms/PPM 13,001 • The following form will still be required at fiscal year-end: • DA-82 Certification of Inventory • Due August 31 • K.S.A 75-3729 • The following forms will no longer be utilized: • DA-83 Corrections or Additions to Capital Asset Records • DA-84 Land (for additions and deletions) • DA-86 Buildings (for additions and deletions) • DA-87 Capital Asset Reporting Form • DA-110 Disposition of Property Form • PPM 13,001 is being revised

  4. Monthly Checklist • Outstanding Interface ID’s • Reviewing Transaction Loader Tables job aid

  5. Monthly Checklist (continued) • Validation that correct Profile was used for all added assets • Corrections from AM Team’s Emails

  6. Comprehensive Annual Financial Report (CAFR) Preparation • A&R will pull balances for each Balance Sheet Category • Important to make sure only capital assets have the CAFR • Book because it generates accounting entries • No action on agency’s part as long as costs have been validated • and all assets have the correct Books • Balances should be accurate by 06/30/2011

  7. Reports to Aid in Physical Inventory • Assets by Custodian • Asset Management > Financial Reports > Assets by Custodian

  8. Reports to Aid in Physical Inventory • Assets by Custodian • Displays all active assets by their current custodian • Page breaks on each new custodian • Displays values for the following fields per Asset ID: • Location Code • Area ID • Description • Tag Number • Serial ID • VIN • In-Service Date • Manufacturer • Model • Parent ID • Parent Description

  9. Reports to Aid in Physical Inventory • Assets by Location • Asset Management > Financial Reports > Assets by Location

  10. Reports to Aid in Physical Inventory • Assets by Location • Displays all active assets by their current location • Page breaks on each new location • Displays values for the following fields per Asset ID: • Area ID • Custodian • Description • Tag Number • Serial ID • VIN • In-Service Date • Manufacturer • Model • Parent ID • Parent Description

  11. Reports to Aid in Physical Inventory • Asset Inventory List • Asset Management > Financial Reports > Asset Inventory List

  12. Reports to Aid in Physical Inventory • Asset Inventory List • Displays values for the following fields per Asset ID: • Description • Serial ID • Tag Number • Acquisition Date • In-Service Date • Asset Status • Life • Location Code • Custodian Name • Cost

  13. Reports to Aid with Audit • Asset Acquisitions by ChartField • Asset Management > Financial Reports > Asset Details > • Acquisitions Use the Fiscal Year/Period Range box— not Date Range

  14. Reports to Aid with Audit • Asset Acquisitions by ChartField • Lists out the following fields per Asset ID: • In Service Date • Begin Depreciation Date • Useful Life • Cost Balance • Year-to-date Depreciation • Life-to-date Depreciation • Net Book Value

  15. Reports to Aid with Audit • Retirement by ChartField • Asset Management > Financial Reports > Retirement > • Retirement Information

  16. Reports to Aid with Audit • Retirement by ChartField • Lists out the following fields per Asset ID: • Disposal Code • End Depreciation Date • Retirement Date • Cost Balance • Accumulated Depreciation • Proceeds • Removal Cost • Gain/Loss

  17. Report Format Template • See Help Desk Solutions Article 596

  18. Other AM Updates • Construction in Progress Assets (CIP) • Project Costing module will not be used to track CIP assets • Job Aid in progress • Agency Blast will be sent when complete • KANView Assets Query • Currently in development • All capital assets will be included • Make sure costs are up-to-date

  19. Questions?

More Related