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
Download Presentation The PPT/PDF document "Equipment Policies Equipment" is the property of its rightful owner. Permission is granted to download and print the materials on this web site for personal, non-commercial use only, and to display it on your personal computer provided you do not modify the materials and that you retain all copyright notices contained in the materials. By downloading content from our website, you accept the terms of this agreement.
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