CAPITAL ASSETS

Presented by

CAPITAL ASSETS GROUPAccounting & Financial Reporting

How to contact Capital Assets Group?

PHONEPHONE (754) 321-8250

EMAILEMAIL CAPITAL ASSETS CONFERENCE

Which Account Assignment to use for a Capital Asset - Value of $1,000 or

greater?

56210000 - Audio Visual Materials 56410000 - Furniture, Fixture &

Equip. 56430000 - Computer Hardware 56510000 - Buses 56520000 - Motor Vehicles 56910000 - Computer Software

Which Account Assignment to use for an Asset – Value of less than $1,000?

56220000 - Audio Visual Materials56420000 - Furniture, Fixture &

Equip.56440000 - Computer Hardware56920000 - Computer Software

How is an asset added to inventory?

How is an asset added to inventory?

A goods receipt transaction must be completed for each asset individually.

After month-end, Capital Assets Group downloads the SAP report to capture all capital asset activity (purchases, returns & reversals).

Each asset is identified by a goods receipt document number.

Any goods receipt corrections should be processed before month-end.

Assets are then added to “PROP” to their corresponding location.

What is the significance of Goods Receipt?

To capture capital assets in a timely manner

To ensure asset information is accurately reflected in the inventory such as product description, serial number and location

To avoid future audit discrepancies

Reminder: All goods receipt transactions for year- end must be processed by June 28, 2011 to be reflected in the current fiscal year’s inventory

How to track inventory?

Request a PNI 811 inventory report for your location from ETS (Contact Lorena Widgeon)

Communicate any inventory discrepancies to the Capital Assets Group via email to Capital Assets Conference

Surplus Process Flow

How to handle Transfer of Assets?

Surplus Declaration Transfer Form (3290A) should be completed and approved.

Upon receipt of the original Transfer form and documentation from B-stock or property custodian, Capital Assets Group sends a confirmation email to the corresponding locations.

How to handle Missing/Stolen/Donated Assets?

Tangible Property Loss Report along with a copy of the Police Report and SIU Immediate Notification Report should be submitted to the Capital Assets Group for assets to be marked as missing/stolen in the Master File. Items listed on the Tangible Property Loss Report should also be reflected on the Police Report and SIU Report.

Equipment Acquisition Form for equipment valued at $1,000 or more that is acquired through internal funds or donations should be submitted to the Capital Assets Group along with a copy of the invoice.

PNI Reports on OptiSpool Web

PNI REPORTS reflecting inventory changes when ETS updates the District’s Master File of Capital Assets Database:

•PNI954A – provides a detailed list of all new equipment records entered into the Master File

•PNI954B – provides a detailed list of all equipment records deleted from the Master File

•PNI954C – details all modifications to equipment records (i.e. changes to property descriptions, serial number, and equipment condition)

Procedures for Property & Inventory Control (Business Practice Bulletin: O-100)

http://www.broward.k12.fl.us/erp/brite/support/businesspracticebulletins/Final%20for%20Website/O-100%20Procedure%20for%20Property%20&%20Inventory%20Control.pdf

How to access Capital Asset Forms?

Forms and instructions are available on the web @

http://web/forms/formsoptions.htm

Detailed Asset Breakdown Over $1,000 Surplus Equipment Transfer Form   

Tangible Property Loss Report /Equipment Acquisition Form 

Detailed Asset Breakdown Over $1,000

Surplus Equipment Transfer Form 

Tangible Property Loss/Equipment Acquisition Form

SIU Report

B-Stock Pick-up Acknowledgment Form

QUICK REFERENCE GUIDE

ACCOUNT ASSIGNMENT

≥ $1,000 < $1,000

56210000 - Audio Visual Materials56410000 - Furn., Fixture & Equip.56430000 - Computer Hardware56510000 - Buses56520000 - Motor Vehicles56910000 - Computer Software

56210000 - Audio Visual Materials56220000 - Audio Visual Materials56420000 - Furn., Fixture & Equip.56440000 - Computer Hardware56920000 - Computer Software

How is an asset added to inventory?

Asset received

via GOODS

RECEIPT

Asset ordered

via STANDARD

ORDER

ASSET added

to Inventory

REPORT downloaded from SAP by

Capital AssetsGroup monthly

Forms and instructions are available on the web @ http://web/forms/formsoptions.htm

Detailed Asset Breakdown Over $1,000 Surplus Equipment Transfer Form   

Tangible Property Loss Report /Equipment Acquisition Form

Forms and instructions are available on the web @ http://web/forms/formsoptions.htm

Detailed Asset Breakdown Over $1,000 Surplus Equipment Transfer Form   

Tangible Property Loss Report /Equipment Acquisition Form

CAPITAL ASSETS CONTACT INFORMATION

PHONE: 754 321-8250 EMAIL: CAPITAL ASSETS CONFERENCE

CAPITAL ASSETS CONTACT INFORMATION

PHONE: 754 321-8250 EMAIL: CAPITAL ASSETS CONFERENCE