Property Inventory 101

1. Property Inventory 101 Property Inventory

2. Plant Assets • Land • Buildings • Improvements Other Than Buildings (IOB) • Roads, parking, sidewalks • Usually called Infrastructure • Equipment • Both Movable and Fixed Property Inventory

3. Get IBIS Access to: • Property Inventory System (Equipment) • M2PI: menu for equipment • ITAG function to see individual tag numbers • M3PB: menu for equipment • 13 Browse Screens • Facilities System (Buildings & IOB) • M3BL: menu for buildings and IOB • IFBD function to see individual building number • IFAR function to see individual addition/renovation to a building number • BFBD = browse by building code • BFBL = browse by building number Property Inventory

4. What is equipment? • Single item that: • Has a value of $5000 or more and • useful life of two (2) or more years. Property Inventory

5. Equipment Descriptions: • Basic tag number is 8 numerical bytes and 1 alpha byte. example: 00123456 Computer 00123456A Cost On The alpha byte is not a real tag, it is part of the main equipment item. If it states: Property Inventory

6. Descriptions: • Cost On = multiple funds purchased item or it was paid over multiple fiscal years • Trade In = a tagged item was traded in and there was net value left on the traded in item. • Upgrade = the main item was upgraded • Accessory = items that add value, usually purchased to aid in the usage of the item Property Inventory

7. Disposing of Equipment“DISP” on IBIS, or Form GF6.2 • Verify Ownership – You can only dispose of equipment that is University Owned • Verify that the equipment is in your Administrative Area • Send forms to Property Inventory after required signatures; we send them to Salvage • List the tag or serial number • Send forms for stolen items Property Inventory

8. Object Classification Codes (OCC) which you need to know: • 452 – Software (Non-Capital) • Less than $100,000 • License Fees (usually multiple users) • 716 – Software (Capital) • More than $100,000 • Example – Oracle (Basic charge; usually doesn’t include user charges) Property Inventory

9. Computer OCC: • 480 – Computer & Accessory Equipment • Non-Capital • Costs Less than $5,000 • 751 – Computer & Accessory Equipment • Capital • Costs $5,000 or more Property Inventory

10. Computer consists of: • CPU • Monitor • Keyboard • Mouse • Cabling • Internal items such as memory, boards, etc. • Initial operating software Property Inventory

11. Items not considered a computer: • Printer • External disk drive • Scanner • External storage drive • Video Camera • Optional software Property Inventory

12. Non-Capital Equipment OCC: • 459 – Items more than $1,000 but less than $5,000 This code is non-computer equipment examples: • Adding machines • Automatic staplers • Office Furniture Property Inventory

13. Fabrications – OCC 705 • Guidelines are available in your packet. • You must ask permission in writing to the Supervisor of Property Inventory to use this classification code prior to using the code. • Upon completion of the item being built you must email the Supervisor of Property Inventory to get this item tagged and entered into the Property Inventory System. Property Inventory

14. OCC 711 • Non-PSU title – Penn State does not own this equipment • Do not confuse with Government, Sponsor or Leased/Loaned Equipment • Call prior to using; the Supervisor of Property Inventory needs a detailed reason for allowing the use of 711 in an email or memo • We also use this for equipment items that may be: • Sent into space and not returning • Heading to the bowels of a volcano • Sensors at the bottom of the sea Property Inventory

15. Note Pad Area Please utilize the note pad areas on documents to tell Property Inventory: • Tag number of item being traded-in • Tag number of item being upgraded • Pertinent information to help us find the item • Special circumstances…such as Sponsor requires all equipment items over $2500 to be tagged. Property Inventory

16. Government Or Sponsor Owned Equipment • Government Acquired - Purchased by Penn State • We will tag at whatever the contract states; usually $5000 and above; under $5000 is normally University Owned • Government Furnished (GFE) – Provided by the Government • We tag it all Property Inventory

17. Government Owned Equipment: Prior written approval from the Government’s Administrative Contracting Officer and/or Sponsor is required to: • Transfer or Loaned Out • Upgrade or Disassemble • Disposed of or Destroyed • Traded-in or Sold Property Inventory

18. Government Owned Equipment (continued): As a standard practice the respective administrative area’s: • Financial Officer and • Research Administration Office should: • first review any action involving Government Owned Equipment • Then contact Property Inventory for instructions on how to proceed Property Inventory

19. Government Owned Equipment (continued): Contact Property Inventory immediately if you discover that a Government Owned equipment item is: • Hand carried to Penn State and not tagged with Penn State tag • Missing • Not being utilized Property Inventory

20. New Professors/Researchers • Did they bring any equipment with them? • Whose equipment is it? • Property Inventory needs to know: • Is it Government Owned? • Is the proper paperwork completed and where is the paperwork? • Its value, condition, model and serial numbers, contract numbers, etc. Property Inventory

21. Professors/Researchers Leaving: • See BS 15 in GURU for specific details on how to proceed • They must complete the requirements for taking the equipment with them? Property Inventory

22. Procedures to review • CR2019 – Accounting for Capital Equipment • CR2055 – Pre-acquisition Screening & Shared Use of Federally Funded Capital Equipment • CR2068 – Property Inventory Depreciation & Usage Fee Guidelines • BS2011 – Salvage & Surplus Operations Including Sales Store • Property Section in GURU • Appendix 9 (Object Classification Codes) Property Inventory