1 May 2011 Plant Assets Land Buildings Improvements Other Than Buildings IOB Roads parking sidewalks Usually called Infrastructure Equipment Both Movable and Fixed Property Inventory 2 ID: 671510
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Property Inventory 101
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Plant Assets
Land
BuildingsImprovements Other Than Buildings (IOB)Roads, parking, sidewalksUsually called InfrastructureEquipmentBoth Movable and Fixed
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Get IBIS Access to:
Property Inventory System (Equipment)
M2PI: menu for equipmentITAG function to see individual tag numbersM3PB: menu for equipment13 Browse ScreensFacilities System (Buildings & IOB)M3BL: menu for buildings and IOBIFBD function to see individual building numberIFAR function to see individual addition/renovation to a building numberBFBD = browse by building codeBFBL = browse by building number
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What is equipment?
Single item that:
Has a value of $5000 or more anduseful life of two (2) or more years.
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Equipment Descriptions:
Basic tag number is 8 numerical bytes and 1 alpha byte.
example: 00123456 Computer 00123456A Cost OnThe alpha byte is not a real tag, it is part of the main equipment item. If it states:
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Descriptions:
Cost On
= multiple funds purchased item or it was paid over multiple fiscal yearsTrade 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 = items that add value, usually purchased to aid in the usage of the item
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Disposing of Equipment
“DISP” on IBIS, or Form GF6.2
Verify Ownership – You can only dispose of equipment that is University OwnedVerify that the equipment is in your Administrative AreaSend forms to Property Inventory after required signatures; we send them to SalvageList the tag or serial numberSend forms for stolen items
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Object Classification Codes (OCC)
which you need to know:
452 – Software (Non-Capital)Less than $100,000License Fees (usually multiple users) 716 – Software (Capital) More than $100,000Example – Oracle (Basic charge; usually doesn’t include user charges)
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Computer OCC:
480 – Computer & Accessory Equipment
Non-Capital Costs Less than $5,000 751 – Computer & Accessory EquipmentCapitalCosts $5,000 or more
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Computer consists of:
CPU
MonitorKeyboardMouseCablingInternal items such as memory, boards, etc.Initial operating software
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Items not considered a computer:
Printer
External disk driveScannerExternal storage driveVideo CameraOptional software
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Non-Capital Equipment OCC:
459 – Items more than $1,000 but less than $5,000
This code is non-computer equipment examples:Adding machinesAutomatic staplersOffice Furniture
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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.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.
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OCC 711
Non-PSU title – Penn State does not own this equipment
Do not confuse with Government, Sponsor or Leased/Loaned EquipmentCall prior to using; the Supervisor of Property Inventory needs a detailed reason for allowing the use of 711 in an email or memoWe also use this for equipment items that may be:Sent into space and not returningHeading to the bowels of a volcanoSensors at the bottom of the sea
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Note Pad Area
Please utilize the note pad areas on documents to tell Property Inventory:
Tag number of item being traded-inTag number of item being upgradedPertinent information to help us find the itemSpecial circumstances…such as Sponsor requires all equipment items over $2500 to be tagged.
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Government Or Sponsor Owned Equipment
Government Acquired - Purchased by Penn State
We will tag at whatever the contract states; usually $5000 and above; under $5000 is normally University OwnedGovernment Furnished (GFE) – Provided by the Government We tag it all
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Government Owned Equipment:
Prior written approval from the Government’s Administrative Contracting Officer and/or Sponsor is required to:
Transfer or Loaned Out Upgrade or DisassembleDisposed of or DestroyedTraded-in or Sold
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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
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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 tagMissingNot being utilized
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New Professors/Researchers
Did they bring any equipment with them?
Whose equipment is it?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.
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Professors/Researchers Leaving:
See BS 15 in GURU for specific details on how to proceed
They must complete the requirements for taking the equipment with them?
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Procedures to review
CR2019
– Accounting for Capital EquipmentCR2055 – Pre-acquisition Screening & Shared Use of Federally Funded Capital EquipmentCR2068 – Property Inventory Depreciation & Usage Fee GuidelinesBS2011 – Salvage & Surplus Operations Including Sales StoreProperty Section in GURUAppendix 9 (Object Classification Codes)
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