ASSET MANAGEMENT VIRTUAL CLINIC

1. ASSET MANAGEMENT VIRTUAL CLINIC ASD Training Presentation November 2009

2. Presentation will cover: • What is an Asset • ARMED to the P • Useful Life Table • Best Practice

3. What is an asset? • Capital Asset – item valued at USD1000 or more with life of 3 or more years • Non Capital Asset – attractive item valued between USD400 - USD999.99 • Item valued under USD400 must not be captured in asset module • Assets to be captured in Asset Module: • Management Assets (Administrative Funded Assets) • Development Assets (DIM – Direct Implementation/Project Assets) • NOTE: NIM project assets are NOT to be captured in Asset Module

4. Process ARMED to the P A = Acquisition R = Record M = Maintenance E = Existence D = Disposal to the P = Project

5. ARMED to the P Acquisition • Request to Buyer • Memo/email requesting acquisition of asset by budget owner or project manager • Due Diligence by Buyer • Check for comparable furniture in storage • Previous equipment met disposal standards

6. ARMED to the P Recording • E-Requisition • Asset to be ticked for capitalization • Approval • Purchase Order • Buyer confirms that all assets have been ticked for capitalization • Basic Add • Manual asset entry • Receive • Function that moves asset into Asset Module

7. ARMED to the P Recording IPSAS 17—PROPERTY, PLANT AND EQUIPMENT Components of Cost 26. The cost of an item of property, plant and equipment comprises its purchase price, including import duties and non-refundable purchase taxes, and any directly attributable costs of bringing the asset to working condition for its intended use; any trade discounts and rebates are deducted in arriving at the purchase price. Ex. Freight, installation, and delivery charges must be included into the cost of an asset because these fees brought the asset into working condition and present location.

8. ARMED to the P Recording Asset in E-Req Tick asset to be capitalize

9. ARMED to the P Confirming Asset in PO Budget Owner can confirm that asset has been ticked for capitalization

10. ARMED to the P Recording Asset by Basic Add

11. ARMED to the P Recording Asset by Basic Add

12. ARMED to the P Recording Asset by Basic Add

13. ARMED to the P Recording Asset by Basic Add

14. ARMED to the P Recording Asset by Basic Add

15. ARMED to the P Receiving Asset Push into Asset Module How to Receive Click the serial box Click Pending hyperlink Verify quantity

16. ARMED to the P How to Receive Enter Serial Number Click here to enter location

17. ARMED to the P Receiving Cont’d Enter Custodian Enter location

18. ARMED to the P Viewing assets after receiving

19. ARMED to the P Maintenance • Transfer asset to another Business Unit • Cost adjustment • Quantity adjustment • Retirement in Error • Update location • Correct description and/or serial number

20. ARMED to the P Existence Physical Inventory

21. ARMED to the P

22. Discrepancy Sheet ARMED to the P

23. ARMED to the P Performing Physical Inventory RECOMMENDATION: It is highly recommended that a floor map of the office/premises is used to ensure that each location has been searched during the non - expendable assets physical verification exercise. After each location has been searched, the team should cross out the room on the floor map.

24. ARMED to the P CERTIFICATION To complete inventory exercise the following must be done: • Physical Verification • Reconciling (matching & entering new assets) • Data Clean-up • Verify data To certify the following documents are required and must be signed: • Certification Letter • In-Service Report, Summary Report, Transaction Reports • Excel Checklist

25. ARMED to the P Disposal 3 Types of Disposal Methods: SALE(Competitive bidding is required if purchase value is $2500 +) DONATION DISCARD CAP & ACP can authorize disposal without competitive bidding if: a. trade-in b. destruction of item or unserviceable material is in UNDP interest or required by law c. disposal by gift or nominal price to government/NGO

26. ARMED to the P Disposal Authority Disposals under $2500 Disposals $2500 - $29,999 Disposals $30,000 or more Disposal Recommendation N/A Disposal Recommendation CAP Disposal Recommendation ACP Disposal Approval RR, Head of HQ Out-Posted Unit & Head of ASD Disposal Approval RR, Head of HQ Out-Posted Unit & Head of ASD Disposal Approval RR, Head of HQ Out-Posted Unit & Head of ASD

27. ARMED to the P Project Asset • POLICY Non expendable assets purchased with Program Fundsmust be maintained both, at the Executing Agency’s headquarters and at the project management Country Office. Primary responsibility for maintaining these records rests with the Country Office (CO). The CO must enter Direct Implementation (DIM) project assets in the Assets Module; however National Implementation (NIM) project assets must not be entered in the ATLAS Assets Module but tracked using other applications like excel as part of general project management. • Day-to-Day management The same process must be followed as Administrative Assets ARMED

28. USEFUL LIFE TABLE

29. BEST PRACTICE • Follow ARMED to the P • Assets not capitalized enter manually (Basic Add) • Periodic Checks • Review Dashboard • Bi-Annual Stocktaking