Asset Inventory Tagging Town Hall Meeting January

Transcript:Asset Inventory Tagging Town Hall Meeting January:
Asset Inventory Tagging Town Hall Meeting January 16, 2019 Overview Introduction Inventory Process Common Topics Keys to Success Next Steps Questions Introduction – Why? Reasons for comprehensive asset inventory and tagging efforts: Creation of internal efficiencies within university Moving from manual process to RFID technology Compliance with federal requirements Uniform Guidance – 2 CFR Part 200 State statutes Optimization of Facilities & Administrative (F&A) indirect cost reimbursements Asset safeguarding and internal controls Integration with future Workday implementation Introduction – Who? Finance & Controller – Barbara Potts – Associate VC for Finance & Controller Property Accounting – Karl Norton, Cindy Bugg, Connie Anderson, Lois Lebert Departments – You! Mike Fister – Vice President (11 years related experience) Mariana Traetta – Director (13 years related experience) Additional 5-6 HCA Staff Introduction – Who? HCA Qualifications: More than 30 years of asset verification work predominantly in Higher Education Laboratory and Research space. HCA serves more than 62 higher education institutions. Expertise in research, lab, clinical, office, and hospital equipment and valuation of such equipment. In-depth knowledge of how to optimize asset records to maximize indirect cost (F&A) reimbursements Inventory Tracking Software (HITS) designed in-house by our Capital Asset Management (CAM) team History of working with WUSTL since 1987 Inventory Process Onsite Asset Inventory and Tagging Capital Asset Verification of Approx. 16,000 assets in 500 buildings Tag confirmed matches (RFID) Reconcile missing assets to remove “Ghost Items” Reconcile Data Records Complete an accounting reconciliation to create clean baseline asset file Complete a Useful Life Analysis Implement HCA’s Inventory Tracking System (HITS) Provide onsite training Upload new baseline asset inventory for perpetuation Inventory Process (continued) Common Topics Accessibility to sensitive space Biosafety Level 3 (BSL3s) Dissemination of information Memo sent out on January 3, 2019 Departments should distribute correspondence to all pertinent building occupants who may be affected by this effort Timing of HCA personnel presence in each space Preliminary schedule for Blitz Phase can be found on Asset Tagging Project Website: https://financialservices.wustl.edu/wfin-topic/other/asset-tagging-project/ Common Topics (continued) Identification of HCA personnel HCA staff will wear badges and will carry print out of January 3 memo in case occupants are unaware of asset tagging initiative Interference of RFID tag frequencies Passive UHF RFID tags Physical placement of tags Tag visibility Treatment of untaggable assets – small subset of research assets that should not be tagged Examples include: rotors associated with centrifuges, microscope lenses, etc. Perpetuation of inventory