Capital Management 2018/19 Capital v Resource and

Transcript:Capital Management 2018/19 Capital v Resource and:
Capital Management 2018/19 Capital v Resource and the Creation of Fixed Assets Capital Management Team STFC Finance September 2018 Capital Management - Team Team Lead Chris Biswell Victoria Fairburn Joe Moxon Jeffrey Brown Silvia Fernandes Asset verification, Asset movements, Amendments, Disposals, One-off Asset Purchase Clearing, Reviews of Expense coding. Complex AuC Projects clearing Project set up approval Technical & General Advice AuC Projects clearing PA & GL Reconciliation Additions of FA to FAR Complex AuC Projects clearing Disposal & Impairment approval Technical Advice Contents Capital Management Improvement programme Where to find more information, including NCA Policies Roles & Responsibilities Capital Spend Standalone Assets & Assets under Construction (Projects) Annual Accounts and Intangibles Asset Verification Impairment and Revaluation Asset Disposals Summary Capital Management Improvement Programme Now in the second year AUC Backlog caused by poor project set up Things are improving due to additional Resource and Education New Asset validation exercise Thank you for all your assistance! Tools Available – Finance web pages Click Here to go to WebPages Tools Available – Finance web pages Click the buttons to go to Web Pages Guidance – found on Sharepoint Under Financial Accounting Capital or Resource PP (Sharepoint). Common Errors from Assets PP(Sharepoint) Guidance Note for MA’s and Project Teams – Word doc (Sharepoint) Under Financial Management & Business Support STFC Management Accountant Role – Word doc(Sharepoint) Also STFC Logistics web page has the Property Disposals link. Capital Project Set-Up Templates To help set up Capital Projects on Oracle we have the following templates to use as a guide- Buildings; Lab refurbishment; Single large asset developed over many years; Single small to medium sized asset; Multiple assets. Roles and Responsibilities The Role of the Capital Management Team Maintain the STFC Fixed Asset Register (FAR); Ensure the FAR is an accurate representation of our assets. Carry out a rolling programme of verifying every asset entry on the FAR to keep it up to date; Review all Capital Spend and ensure new assets are added to the FAR and spend on existing asset upgrades is accounted for correctly. Advise on what can be classed as capital; Advise on the best Capital Project structure to facilitate asset creation; Review capital costs looking for costs that should be classed as resource and vice versa; Roles and Responsibilities The STFC Management Accountant Capital: New capital projects should be set up in consultation with the Capital Management Team to