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Equipment Policies Equipment Equipment Policies Equipment

Equipment Policies Equipment - PowerPoint Presentation

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Equipment Policies Equipment - PPT Presentation

Policy Scott Cingle iyc3psuedu Property Supervisor Property Inventory 8148631378 Personal 8148657531 Office Plant Assets Land Buildings Improvements Other Than Buildings IOB Roads parking sidewalks ID: 713534

property equipment item inventory equipment property inventory item government capital owned 000 tag number computer items amp sponsor occ

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Slide1

Equipment PoliciesSlide2

Equipment

Policy

Scott Cingle – iyc3@psu.edu

Property Supervisor

Property Inventory

814-863-1378 Personal

814-865-7531 OfficeSlide3

Plant Assets

Land

Buildings

Improvements Other Than Buildings (IOB)

Roads, parking, sidewalks

Usually called Infrastructure

Equipment

Both Movable and Fixed

UNIV, GOVT or SponsorSlide4

Get IBIS Access to

Property Inventory System

(Equipment)

-

M2PI

- menu for equipment

- ITAG – function to see individual tag numbers

-

M3PB

– menu for equipment

- 17 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 numberSlide5

Capital Equipment Definition?

Single item

that:

Has a value of

$5,000 or more

and

useful life of two (2) or more years

.

See GURU Procedure CR2019

Guru Website

Procedure

CR2019 Accounting of Capital EquipmentSlide6

Federal Regulations

OMB

= Office of Management & Budget

FAR =

Federal Acquisition Regulation

FAR part 45.1 & 52.245-1

– sets the principles for

controlling property and conducting physical

inventories.

New 2 CFR 215, Old A-110

– sets standards for consistency among federal agencies in the administration of grants, contracts and agreements with educational institutions, hospitals and other non-profit organizations.Slide7

Federal Regulations (Cont.)

Office of

Managment

and Budget Website

Click on OMB Circulars

Federal Acquisition Regulation (FAR) Webpage

Click on Federal

Acq

. Regulations (FAR)Slide8

Equipment Tag Examples

Basic tag

number is 8 numerical bytes and 1 alpha byte. The

alpha byte is a virtual tag

, it is part of the main equipment item.

Example: 00123456 Computer

00123456A Cost On

Government Tags

have a

Red

Strip

Sponsor Tags

have a

Yellow

StripSlide9

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

= item that add value, usually purchased to aid in the usage of the itemSlide10

Object Classification Codes (OCC) 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) Slide11

Computer OCC

480 – Computer & Accessory Equipment

Non-Capital :

Costs

Less than $5,000

751 – Computer & Accessory Equipment

Capital:

Costs

$5,000 or moreSlide12

Computer consists of:

CPU

Monitor

Keyboard

Mouse

Cabling

Internal items such as memory, boards, etc.

Initial operating software Slide13

Items not considered a computer

Printer

External disk drive

Scanner

External storage drive

Video Camera

Optional software Slide14

Computer

Cluster

Is multiple cpu’s, nodes, blades, drives that work as

one unit

Replacement

nodes are non-capital

New

cpu’s, nodes, blades, drives, etc. that are added to an existing cluster to improve its performance (upgrade) are capital equipment:

Property Inventory will need the tag number on the cluster to add detail information

If any of the cpu’s nodes, blades, drives, etc. are permanently

removed:

Property Inventory will need to know the number of items being removed to reduce book value.Slide15

Capital OCC

710

– Capital Equipment

Non-Computer Related

Per item value: $5,000 or moreSlide16

Non-Capital Equipment OCC

Both these codes are non-computer equipment.

457

– Items greater than $5,000, but are defined as material (Primarily ARL use)

459

– Items costing less than $5,000

Examples:

Adding machines

Automatic staplers

Office Furniture Slide17

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.

Please place assigned Fab number on all documents.

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.Slide18

FEDERAL-FUNDED SCREENING

Pre-acquistion form GF 2.12

<

$100K – At the College or AA

>

$100K – Approval from

College or Admin. Area

Corporate Controller’s officeSlide19

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 depths of a volcano

- Sensors at the bottom of the seaSlide20

OCC 715 – Lease Purchases

Each item must be valued at $5,000 or greater and will be tagged and capitalized if just one of the following criteria is met:

Ownership

is transferred to PSU at the end of lease term

The lease contains a

buyout

option

Over the entire lease term, PSU pays

90%

or greater of the total purchase price

If the lease term is

75%

or more of the useful life of an assetSlide21

OCC 715 – Operating Lease

If items meet any one of the conditions for a lease purchase, but costs

less than $5,000Slide22

Ownership Codes in IBIS

University Owned =

U

Government Owned =

G

Sponsor Owned =

S

Leased or Loaned =

LSlide23

Internal or External Note Pad Area

Please utilize the header 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 $2,500 to be tagged.Slide24

Government or Sponsor Owned

Equipment

Government Acquired OR Contractor Acquired - Purchased by Penn State

We will tag at whatever level contract states; usually $5,000 and above; under $5,000 is normally University Owned

Government Furnished (GFE) – Provided by the Government

We tag it allSlide25

Government Owned Equipment:

Prior written approval from the

Government’s Administrative Contracting Officer

and/or

Sponsor

is required to

:

Transfer or Lend,

Upgrade or Disassemble,

Dispose or Destroy,

Trade or Sell,

All GFP issues must go through Property Inventory.Slide26

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.Slide27

Continued Government

Owned

Equipment

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 utilizedSlide28

Physical Inventory

University conducts inventories on a two year cycle

Inventory kick off meetings

Bar Code Scanners

By Building, except when conducting a Government inventory

Off campus forms

Permanent transfer formsSlide29

Ask New Professors/Researchers

Did they bring any equipment with them?

Whose equipment is it? (

OWNERSHIP

)

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. Slide30

Professors/Researchers Leaving

See BS 15 in GURU for specific details on how to proceed.

Risk Management

Lion Surplus

FIS – OPP run Furniture warehouse

They

must

complete the requirements for taking the equipment with them.Slide31

Procedures in GURU to review and have a basic knowledge of

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

General Forms Usage Guide -Appendix 9 (Object Classification Codes)Slide32

Procedures in GURU to review and have a basic knowledge of continued

Also see Cost Analysis and Property Inventory web site @:

Cost Analysis

Property Inventory

Click on Property InventorySlide33

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

List the tag, model and serial number

Send forms for stolen items

Send forms to Property Inventory after required signatures

Property Inventory forwards to Lion SurplusSlide34

Property Reporting Requirements

Currently this requirement may be:

Monthly

Currently

Annually

Final

If you are made aware of a special equipment reporting requirement, contact Property Inventory immediately.

This includes subcontractors under PSUSlide35

Grants/Contracts

Is there

GFE

listed in the contract

Equipment Ownership

FDP IV (Grants) –

120 day

issue

Special awards (URS) $300.00 limitSlide36

Subcontracts

Will there be equipment purchased

Equipment Ownership

(PSU or Sponsor?)

Contract flow downs – New DOD IUID reporting

Non profits vs For profits

Special awards – Lower thershold limitsSlide37

IUID (Item Unique

IDentification

)

May be on new contracts after 01/01/2006

Requirement by the Department of Defense

Replacing the yearly and final Form DD 1662 reporting requirement

Look for Contract Modifications that may add this requirement for existing contracts

DFAR Clause

252.211-7003 & 252.211-7007

More information will be available at a later date.Slide38

This Concludes This Presentation