Asset Management

1. Asset Management

2. Overview of Asset Management at UVM Overview of basic information stored for an asset Asset processing activities Modifying Asset Information Inquiry & Reporting Asset Management Responsibilities Overview

3. Approximately 3000 pieces of moveable equipment inventoried (not capitalized) Approximately 400 buildings Only a few software assets Approximately 300 vehicles (primarily not capitalized) Other assets Asset Management at UVM

4. Custodian Department or Project Grant that ‘owns’ the asset Description Asset Notes/Comments UVM Tag # In Service Date Acquisition Date (or date received, if the equipment was furnished by the Federal Government) Disposal Date Unit Acquisition Cost Manufacturer's Name/Vehicle Make Manufacturer’s Serial Number VIN Model Location Basic Information Stored for an Asset

5. Other fields used for Vehicles License Information (Plate #, Registration #, and Title #) Production Date (Model Year) Weight Custom Attributes (Building, Room, Condition with effective date) Product Version - federal stock number, national stock number, or other identification number. Ultimate disposition data, including date of disposal and sales price or the method used to determine current fair market value where a recipient compensates the Federal awarding agency for its share, will be included as a Comment. Other Asset Info Captured

6. All depreciation is straight line. Only moveable equipment assets over $100,000 are capitalized and depreciated. Any moveable equipment less that $100,000 will not be capitalized, unless the moveable equipment is included in the cost of a construction project and will be capitalized as a part of the project costs. Renovation and construction projects over $25,000 are capitalized. Asset Management at UVM

7. All buildings and structures, and fixed equipment are considered fixed assets. All fixed equipment included in the initial construction or major rehabilitation project shall be capitalized. Fixed equipment of $5,000 or more acquired at other times will be capitalized. Moveable equipment received as a gift may be recorded as a gift in kind and assigned to the benefit of a specific University department. Any major application software and appropriate implementation costs (i.e. training and moveable equipment) will be capitalized if the total project is greater than $100,000. Asset Management at UVM

8. Moveable equipment - 5 years Building components are only broken down for 3 research buildings. Other buildings are capitalized in total and depreciated over 40 years. Building service systems - 25 years Building interiors - 20 years Building shell - 40 years Fixed equipment - 15 years Software - 7 years Asset Management at UVM– Useful Lives

9. Asset categories classify assets by type for accounting entry purposes. Typically, these categories reflect how assets are reported on balance sheets. MEQFA – moveable equipment between $5K - $100K MEQPD – moveable equipment depreciable over $100K BLDGS – buildings BLINT – building interiors BLSYS – building service systems BLSHL – building shell FXEQP – fixed equipment SFTWR – software LAND – land VEHOD – owned & depreciated vehicles VEHON – owned & non-depreciable vehicles VEHFA – vehicles between $5 - $100K VEHLE – leased vehicles Asset Categories

10. An asset profile is a template that contains standard depreciation criteria for an asset type and its corresponding asset books. MVEQUIPDPR – depreciable movable equipment MVEQUIPFA – moveable equipment for F & A VEHCLEASED – leased vehicle VEHCLOWDPR – vehicle owned & depreciable VEHCLOWNDP – vehicle owned & non-depreciable VEHICLEFA -- vehicle for F & A SOFTWARE – software FIXEDEQUIP – fixed equipment LAND - land BUILDINGS – general buildings BLDGSYSTEM -- building service systems BLDGINTERS -- building interiors BLDGSHELLS -- building shell Asset Profiles

11. University Book - UVM F&A Book - F&A The F&A book is for moveable equipment between $5000 and $100,000, for the F&A rate calculation, with no depreciation recorded in the general ledger. Federal Book - FEDERAL Alternative Minimum Tax Book - AMT UVM Asset Books

12. Run AP/PO interface data into AM loader tables Run Interface Loader Edit Program Run Transaction Loader Validate each asset’s cost Review the asset info and verify that each asset is capitalized Run Depreciation Calculation Validate calculated depreciation Run Accounting Entry Creation Review the accounting entries created for each asset Typical AM Monthly Tasks

13. Accounting entries come from two sources: from financial transactions such as asset additions, adjustments, or retirements from depreciation close for a given accounting period Accounting Entries

14. Calculate Depreciation – stored in table. Create Accounting Entries. Create Monthly Depreciation Entry. Run the Load Net Book Value Table process. Run the Load Depreciation Reporting Table process. Reconcile Asset Management Accounting Line with Journal Entries. Close AM accounting period. Run the Journal Generator process for AM. AM Month End Close Processes

15. Adding an Asset using Basic Add Copying an Asset Adjusting Asset Information Transferring Assets within Business Unit Retiring Financial/Non-Financial Assets Reinstating Assets Changing Asset Information

16. Adding an Asset Using Basic Add & Copying an Asset Activities

17. Adding an Asset Using Basic Add Navigation: Asset Management > Asset Transactions > Owned Assets > Basic Add Reference: Adding an Asset Using Basic Add Job Aid Activity 1

18. Copying an Asset Navigation: Asset Management > Asset Transactions > Owned Assets > Copy Existing Asset Reference: Copying an Asset Job Aid Activity 2

19. Monthly and Month-End Processing Activities

20. Run AP/PO interface data into AM loader tables (AMPS1000) Navigation: Asset Mgmt > Send/Receive Info > Retrieve Info From AP/PO Reference: Loading an Asset from Purchasing to Asset Management Job Aid Activity 3

21. Run Interface Loader Edit Program (AMIFEDIT) Navigation: Asset Mgmt > Send/Receive Information > Load Transactions > Edit Transactions Reference: Run Interface Loader Edit Job Aid Activity 4

22. Run Transaction Loader (AMIF1000) Navigation: Asset Mgmt > Send/Receive Info > Load Transactions > Load Transactions into AM Reference: Run Transaction Loader Job Aid Activity 5

23. Validate Each Asset’s Cost Navigation: Asset Mgmt > Asset Transactions > History > Review Cost Reference: Review Asset Cost Job Aid Activity 6

24. Review the Asset Info and Verify that each Asset is Capitalized Navigation: Asset Mgmt > Asset Transactions > Owned Assets > Basic Add Reference: Verify Asset has been Capitalized Job Aid Activity 7

25. Run Depreciation Calculation (AM_DEPR_CALC) Navigation: Asset Mgmt > Depreciation > Processing > Calculate Reference: Processing Depreciation Calculation Job Aid Activity 8

26. Validate Calculated Depreciation Navigation: Asset Mgmt > Depreciation > Review Depreciation Info > Asset Depreciation Reference: Validate Calculated Depreciation Job Aid Note: Summary level depreciation detail available via navigating to: Asset Mgmt > Financial Reports > Cost and Depreciation Summary Reference: View Cost and Depreciation Summary Job Aid Activity 9

27. Run Accounting Entry Creation (AM_AMAEDIST) Navigation: Asset Mgmt > Accounting Entries > Create Accounting Entries Reference: Running Accounting Entry Creation Job Aid Activity 10

28. Review the Accounting Entries Created for Each Asset Navigation: Asset Mgmt > Accounting Entries > Review Financial Entries Reference: Review Financial Entries Job Aid Activity 11

29. Run Depreciation Close (AM_DPCLOSE). Navigation: Asset Mgmt > Accounting Entries > Depreciation Close Reference: Running Depreciation Close Job Aid Activity 12

30. Run the Load Net Book Value Table process (AMLDNBVT). Navigation: Asset Mgmt > Financial Reports > Load Reporting Tables > Net Book Value Table Reference: Run Load Net Book Value Job Aid Activity 13

31. Run the Load Depreciation Reporting Table process (AMDPREPT). Navigation: Asset Mgmt > Financial Reports > Load Reporting Tables > Depr Reporting Table Reference: Run Load Depr Reporting Table Job Aid Activity 14

32. Adjusting Asset Information Transferring Assets within Business Unit Attaching Images Printing Asset Information Retiring Financial/Non-Financial Assets Reinstating Assets Modifying Asset Information

33. To view the depreciation schedule for an asset online, go to the page Asset Management > Depreciation > Review Depreciation Info > Asset Depreciation To view the accounting entries for an asset online, go to the page Asset Mgmt > Accounting Entries > Review Financial Entries. To view the depreciation accounting entries for an asset online, go to the page Asset Management > Accounting Entries > Review Asset Journals. To view net book value by chartfield, category, or account go to the page Asset Management > Financial Reports > Cost and Depreciation > Asset Net Book Value. Run the query Asset Net Book Value to view accumulated depreciation, current period depreciation, and year-to-date depreciation. Online Inquiry

37. Asset Management Setup – maintaining the setup values as configured and work with Project CATalyst staff to alter the setup values as needed Asset Management Processes – loading assets from other modules, running monthly processes to calculate depreciation and generate accounting entries, coordinate with people on campus running capital projects for capitalization purposes, etc. Reconcile Asset Management with the General Ledger Update Assets – maintain attribute information about assets, perform adjustments to assets, transfer assets between departments, retire or reinstate assets, etc. Manually Add Assets – assets that do interface into Asset Management from other PeopleSoft feeder systems like Purchasing, such as equipment that is transferred in with incoming researchers and donated equipment from donors Reporting and Inquiry Continually Improve the Asset Management System Asset Management Responsibilities

38. THANK YOU