Asset Management Newsletter - January 2020
This issue containts the following articles:
- FY20 PIER Moved up for Workday Transition
- How to Initiate the Surplus Process
- Have You Ran Your Asset Management Reports Recently?
- Mandatory Physical Counts
- Upcoming Training Opportunities
In preparation for the WorkDay transition, the FY20 PIER reports are coming early. This will ensure that all the asset information is correct in the Financials system prior to the Workday migration. The reports will be made available on March 2nd, 2020. The deadline for submission will be April 30th, 2020.
More information will be released in the coming weeks with specific dates and instructions.
Contact Asset Management if you have any questions.
All tangible assets, including non-capitalized assets, must be surplused.
When an Asset Custodian determines that an asset has reached the end of its useful life, the Asset Coordinator for the applicable unit must be notified. The Asset Coordinator is then responsible for contacting the unit’s Surplus Coordinator to initiate the surplus process. Information regarding the surplus process can be found on the Surplus website.
To initiate the surplus process, a Disposal Request (DR) must be submitted through the Surplus Property Management System (SPMS). If your unit does not have a Surplus Coordinator or you would like to obtain this role, complete the training and request access through the following links:
An Asset Maintenance Form does not need to be completed for an asset going through the surplus process as long as the asset tag # is listed on the Disposal Request. Asset Management receives a monthly report from SPMS (with the asset tag #) that is used to retire these assets.
The only time an asset is not required to be transferred to Surplus is when the asset has been:
Assets that are not transferred to Surplus must be retired, in the Asset Management panels of the Financials system.
There are six standard Asset Management reports available to Asset Coordinators in the eReports portal. These reports are valuable tools to track and maintain an accurate reflection of your unit’s asset inventory. Some information that you can obtain through these reports are; additions, retirements, transfers, custodian changes, location changes, and asset detail by location or profile.
Access eReports>Financials>Asset Management Reports.
AMB100DW – On-Line Assets and Equipment
AMB101DW- Capitalized Retirement Activity
You can narrow your results by searching for specific chartfields (Business Unit, Org, Fund, Project, Program, and User Defined) when running each Asset Management report. You may also choose specific parameters, such as date range, location, and category.
If your unit tracks non-cap assets in the Financials system, these standard Asset Management reports will also capture your non-cap data.
The Asset Management Office has reached out to Asset Coordinators and SFO’s to schedule physical counts for units that did not submit their completed 2019 UNIV Capital PIER reports before the deadline (11/30/19). The physical counts are mandatory and cover all active UNIV capital assets for these units. If you received a notification, but did not schedule your appointment, please do so as soon as possible.
Contact Asset Management to schedule your appointment.
Managing Your Department's Capitalized Equipment
This four-hour workshop explains the policies and procedures that must be followed when tracking a department’s capitalized assets. This session is targeted to Asset Coordinators, Asset Custodians, and Department Business Officers. Register for classroom training at BuckeyeLearn.
Asset Management Information Sessions
These brief sessions will focus on system functionality and/or procedural steps during the lifecycle of the assets. The Asset Management Office will deliver a 15-minute demonstration of a specific process and address any questions from participants. Session invitations will be sent to each units Asset Coordinator roughly one week prior to the course date.
What would you like to hear about in our next newsletter? Share your thoughts!