Transcript Fixed Assets is tasked with tracking University equipment from the time it is purchased until it is disposed of in accordance with NCSSPA.

Fixed Assets is tasked with tracking
University equipment from the time it is
purchased until it is disposed of in
accordance with NCSSPA rules and
regulations
This includes:
– Recording/updating identified assets in Banner.
– Physically tagging equipment
– Reporting results to Comptrollers office
– Performing annual inventory spot checks
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UNC-Business Process Standards require all universities within the UNC
System to follow system-wide Capital Assets Standards. These include a
requirement for the Fixed Assets Office to tag equipment within an
average of 60 days.
The Fixed Assets Office must report quarterly the percentage of
equipment tagged within this timeframe. These results are submitted to
UNC – General Administration. Departments that have a large amount of
untagged items could cause the university to be noncompliant with the
UNC-BPS Standards.
Noncompliance will trigger increased monitoring by UNC-GA and will be
communicated to the Vice Chancellor level. Our office will have to
provide a detailed explanation and a plan to improve our tagging
process.
Appointments to tag equipment are important to maintain control over
the assets of the university. Please adhere to your tagging appointments
and make every effort to have your equipment tagged quickly.
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Equipment with a purchase (or donation/gift)
cost of $5,000 or more and useful life of 2 or
more years is capitalized...all University funds
EDP equipment (computers/laptops) with a
purchase cost of $2,500 or more is
tracked...all funds
Note: Departments are responsible for tracking
all assets, equipment, and supplies below
these thresholds via an internal process
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Banner Account Codes – used on purchase orders,
and any equipment expenditure
When invoices are paid against a Capital
equipment account code, Banner creates an O-tag
that is extracted to the Fixed Assets’ System
Fixed Assets reviews PO, invoice, etc. and
identifies FA’s.
Tagging appointment is scheduled and location of
equipment is verified at that time.
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A complete listing of all Banner Account
Codes is available via the System’s
Coordination website at
http://www.ecu.edu/syscoord/
• ODS Quick Queries
 Banner Account Descriptions
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Fixed Assets provides an Equipment Account
Code listing on our website at
http://www.ecu.edu/csadmin/purchasing/centralstores/FixedAssets.
cfm
Equipment Status
Changes
This form is filled out when one department
is transferring a fixed asset to another
department.
 It must be a completed form, with all
information and signatures to be valid.
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Keep a copy for your records and submit to
FA.
If not signed by receiving department, the
inventory stays on the originators FYYF139.
 If you are transferring to one of your
organizations, please e-mail FA.
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Appropriate process and paperwork is required to relocate
equipment within a department
Step 1: Enter a Work Order Request for Moving Services via the
Facilities Services’ WEB Asset/Work Management System
List each item in detail including quantity and ECU tag #
Maintain a copy of your moving request and request #
Step 2: Complete an Equipment/Furniture Relocation Request
Form (EFRF); when submitted the EFRF will go to Moving
Services and a copy automatically to the Fixed Assets’ Office
ECU tag #, new room #, and building numbers required
Maintain a copy of your EFRF for your inventory records
Complete Step 2 even if you do not use Moving Services to
move the equipment
These steps will ensure the location of equipment in the Fixed
Assets’ System is changed appropriately and accurately
Permission for removal of University-owned property
may be granted only for University business and not
for personal use
Going Off-site Equipment Tracking Form should be
completed with the appropriate Department Head’s
signature
 Indicates the period of time the property is to be off campus, a
justification, ECU tag number if appropriate, and description of item
 If property is to be off campus for over a week, this form must be
sent to the Fixed Assets Office for tracking
Annual Off Campus Equipment Tracking Form can be
used for equipment checked out on an annual basis
(i.e. laptop)
 This form must be updated before the annual inventory. The
equipment must be returned to campus for the actual inventory.
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Used equipment can be offered as a trade-in allowance
when soliciting bids or on small purchases
Trade-in must be pre-approved by State Surplus Property
Property Trade-In Form and the quote is submitted to
Fixed Assets to initiate the approval process. When
approved, it is attached to the requisition when submitted
to Materials Management.
Materials Management will need to know up front that
the department has equipment they wish to trade in.
The correct account code needs to be used, taking into
account the total cost of the item, including the tradevalue.
The equipment cannot be released or transferred to the
vendor until approved by State Surplus and properly
documented by Fixed Assets.
Contact Laura Williams 328-9931/Matt Clark 328-9941
TRADE-IN APPROVAL
TO:
State Surplus Property Officer,
Division of Surplus Property
FROM:
Laura Williams 252-328-9931
[email protected]
ECU Surplus Property
DATE:
RE:
3/10/2014
Trade-in Approval Request
We are requesting approval to trade-in the following item(s):
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Description of Item(s) to be traded in:
FAS # :
Original Purchase price total: $
Date of Purchase(s):
Current Condition:
Name of Vendor Offering Trade-in Allowance:
 Description of Replacement Item:
 Price of Replacement Item Before Allowance: $
 Amount of Trade-In Allowance: $
 Final Purchase Price: $
Advantage, Justifying Trade-in over other disposal options:
____________________________________________
Date: ___________
Approved
(Authorized Agency Approver)
APPROVED
DENIED (Reason will be given)
____________________________________________
State Surplus Property Officer
Date: ___________
Contact the proper authorities for any stolen
equipment or goods (regardless of cost)
Police
ECU Police (on campus)
Local Police (off campus)
PCMH Security (BSOM)
Campus Attorney
 SBI report – forwarded to Int Audit
 Fixed Assets’ Office
 Items will be recorded as stolen
and removed from departmental
inventory records
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Transfer outside of ECU
◦ Department needs to forward a memo to Fixed Assets for
approval prior to transfer
◦ Must be approved by State Surplus Property
◦ Transfers are made only to Non-profit or Government
agencies at fair market value
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Donations / Gifts
◦ Are recorded in the Office of Gift Records
◦ Items $5,000 ($2,500 for IT equipment) and a life
expectancy of 2 years will be tagged by Fixed Assets
◦ Inventory Control Form is needed by Fixed Assets to
initiate the equipment inventory process
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If equipment becomes unserviceable due
to obsolescence or excessive repair costs
but which still has serviceable component
parts that can be used to repair, modify or
maintain other similar pieces of
equipment, the irreparable item can be
cannibalized.
Computers cannot be cannibalized.
Tracking Inventory
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The University is required by the State to
take an annual equipment inventory
Each department is accountable for their
inventory and is responsible for verifying
their inventory and reporting any changes
or corrections to Fixed Assets
Fixed Assets will post annual inventory
reports in October each year via E~Print
To access E~Print, permission must be
granted via the Banner Security Request
Form on OneStop
These are the two reports that you will need, FYYF139 and FYRF135. Not every
organization has a FYRF135 Lost Inventory. Click on the PDF icon.
This is what the FYYF139 will look like when brought up.
Scroll down until you find your organization(s).
Click down until you see
the last page of your
organization.
Always make sure
you get the
signature page.
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The department should physically locate each
piece of equipment on the list.
Updates or additions need to be written in red.
Common changes would be to condition,
location, adding the serial or model number and
est. useful life.
Est. Useful life can never be less than 2 years. So
please think of 2 as zero.
If a fixed asset is on your inventory that should
have been removed due to any of the
circumstances that we have covered, provide a
copy of the paperwork.
ASSET
NUMBER
Never
less
than 2
years.
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Equipment remains on Lost Inventory for 2 years
A reasonable explanation must be submitted to
justify why a piece of equipment is considered
lost.
If an item is found, please note it on the
paperwork and it will be spot checked to verify
the status and updated in Banner.
This report is submitted to Internal Audit
Vice Chancellors are notified of any lost
equipment
Fixed Assets Inventory Verification Guidelines for
Departments are available on the Fixed Assets
Home Page at
http://www.ecu.edu/csadmin/purchasing/centralstores/FixedAssets.cfm
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Administrative Heads of each unit are
responsible for the custody and proper care
of equipment within his/her unit
Each unit’s inventory is subject to audit by
◦ NC Dept. of State Auditors
◦ Internal Auditors
◦ Fixed Assets Office Spot Inspections
All material, equipment, or supplies
purchased with any University fund is the
property of the State and must be accounted
for and disposed of in accordance with
NCSSPA guidelines.
 Departments are accountable for all inventory
 Fixed Assets tracks, records, and reports
capitalized inventory
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Departments are accountable for all
equipment and goods under their control
that do not meet the $5,000 tagging
threshold (or $2,500 for EDP equipment)
Departmental inventory reports are to be
maintained and updated annually
Internal inventory is subject to audit
Internal reports are not submitted to Fixed
Assets
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Property Equipment Tracking System is in place to
provide a method of turning in items to Surplus.
When entering an item that is a FIXED ASSET take
care to include the ECU tag number and a serial
number.
Every item receives a PETS tag, which is a bar code
label. Do not put in multiples, use the clone
option.
Keep a copy of the DR for your records.
This tag provides a means of tracking the item
until it is disposed of.
 Remember, ALL material, equipment or supplies
purchased with ANY University fund is the property
of the State.
“The way an Agency treats it’s surplus is an
indication of what type of group it is.”
Robert Riddle
NC State Surplus Property Officer
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When items have moved to the Surplus Warehouse
via Moving Services, they are checked in by
scanning the PETS label, or M-tag.
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Assets are identified, then transferred
to Surplus in Banner.
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It is at this time it is decided what category the
surplused item falls into and which disposal
method will be used.
Recycle-Metal or Powerhouse
Back on Campus (includes supplies): Staff/Faculty
& Non-Profits.
NC State Surplus Bid Site: Non-profit and Public
Surplus Retail Sale: Public Sale
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ECU Surplus Property is located at 1104 Clark
Street Building 214D. This is on the corner of
10th and Clark.
Departments can view Back on Campus items.
Open from 8:15-11:45(lunch) 1:15-3:00
◦ The exception to this is on the 1st Thursday of the
month. Closed for the cash sale all day.
 You do not need an appointment.
Once you have chosen the items, place a work order
with Moving Services.
Please remember that this is a non-conditioned
building, so dress appropriately.
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One of the methods that we use to recycle
items no longer needed on campus is
through the NC State Surplus Property Agency
bid website.
www.doa.state.nc.us/ssp/
ECU Surplus usually has 8-10 bids open at all
times.
Bid items are often items that would not
easily sell on the retail section.
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Sales are conducted the first Thursday of
each month.
Employees cannot purchase merchandise for
University use.
Preview of available items is held on the
Wednesday prior to the sale
Thursday: 8:30am-11:00am
Cash Only/All items sold “as is”/No
Returns/First come, First served basis.
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Fixed Assets Website
http://www.ecu.edu/csadmin/purchasing/centralstores/FixedAssets.
cfm
Please contact us
Laura Williams at 328-9931/
[email protected]
 Matt Clark at 328-9941
 /[email protected]
 [email protected]
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Thank you for attending
We welcome your feedback and input