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Property Inventory 101

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Property Inventory 101 Property Inventory * May 2011 Property Inventory Plant Assets Land Buildings Improvements Other Than Buildings (IOB) Roads, parking, sidewalks ... – PowerPoint PPT presentation

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Title: Property Inventory 101


1
Property Inventory 101
2
Plant Assets
  • Land
  • Buildings
  • Improvements Other Than Buildings (IOB)
  • Roads, parking, sidewalks
  • Usually called Infrastructure
  • Equipment
  • Both Movable and Fixed

3
Get IBIS Access to
  • Property Inventory System (Equipment)
  • M2PI menu for equipment
  • ITAG function to see individual tag numbers
  • M3PB menu for equipment
  • 13 Browse Screens
  • Facilities System (Buildings IOB)
  • M3BL menu for buildings and IOB
  • IFBD function to see individual building number
  • IFAR function to see individual
    addition/renovation to a building number
  • BFBD browse by building code
  • BFBL browse by building number

4
What is equipment?
  • Single item that
  • Has a value of 5000 or more and
  • useful life of two (2) or more years.

5
Equipment Descriptions
  • Basic tag number is 8 numerical bytes and 1 alpha
    byte.
  • example 00123456 Computer
  • 00123456A Cost On
  • The alpha byte is not a real tag, it is part of
    the main equipment item. If it states

6
Descriptions
  • Cost On multiple funds purchased item or it was
    paid over multiple fiscal years
  • Trade 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

7
Disposing of Equipment DISP on IBIS, or Form
GF6.2
  • Verify Ownership You can only dispose of
    equipment that is University Owned
  • Verify that the equipment is in your
    Administrative Area
  • Send forms to Property Inventory after required
    signatures we send them to Salvage
  • List the tag or serial number
  • Send forms for stolen items

8
Object Classification Codes (OCC) which you need
to know
  • 452 Software (Non-Capital)
  • Less than 100,000
  • License Fees (usually multiple users)
  • 716 Software (Capital)
  • More than 100,000
  • Example Oracle (Basic charge usually doesnt
    include user charges)

9
Computer OCC
  • 480 Computer Accessory Equipment
  • Non-Capital
  • Costs Less than 5,000
  • 751 Computer Accessory Equipment
  • Capital
  • Costs 5,000 or more

10
Computer consists of
  • CPU
  • Monitor
  • Keyboard
  • Mouse
  • Cabling
  • Internal items such as memory, boards, etc.
  • Initial operating software

11
Items not considered a computer
  • Printer
  • External disk drive
  • Scanner
  • External storage drive
  • Video Camera
  • Optional software

12
Non-Capital Equipment OCC
  • 459 Items more than 1,000 but less than 5,000
  • This code is non-computer equipment examples
  • Adding machines
  • Automatic staplers
  • Office Furniture

13
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.

14
OCC 711
  • Non-PSU title Penn State does not own this
    equipment
  • Do not confuse with Government, Sponsor or
    Leased/Loaned Equipment
  • Call prior to using the Supervisor of Property
    Inventory needs a detailed reason for allowing
    the use of 711 in an email or memo
  • We also use this for equipment items that may be
  • Sent into space and not returning
  • Heading to the bowels of a volcano
  • Sensors at the bottom of the sea

15
Note Pad Area
  • Please utilize the note pad areas on documents to
    tell Property Inventory
  • Tag number of item being traded-in
  • Tag number of item being upgraded
  • Pertinent information to help us find the item
  • Special circumstancessuch as Sponsor requires
    all equipment items over 2500 to be tagged.

16
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 Owned
  • Government Furnished (GFE) Provided by the
    Government
  • We tag it all

17
Government Owned Equipment
  • Prior written approval from the Governments
    Administrative Contracting Officer and/or Sponsor
    is required to
  • Transfer or Loaned Out
  • Upgrade or Disassemble
  • Disposed of or Destroyed
  • Traded-in or Sold

18
Government Owned Equipment (continued)
  • As a standard practice the respective
    administrative areas
  • 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

19
Government Owned Equipment (continued)
  • 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 tag
  • Missing
  • Not being utilized

20
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.

21
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?

22
Procedures to review
  • CR2019 Accounting for Capital Equipment
  • CR2055 Pre-acquisition Screening Shared Use
    of Federally Funded Capital Equipment
  • CR2068 Property Inventory Depreciation Usage
    Fee Guidelines
  • BS2011 Salvage Surplus Operations Including
    Sales Store
  • Property Section in GURU
  • Appendix 9 (Object Classification Codes)
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