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Capital Equipment

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Capital Equipment * Have two Very important Responsibilities Is to be sure the auditor is happy with the documents Associated with the Property Purchased by the state 2. – PowerPoint PPT presentation

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Title: Capital Equipment


1
Capital Equipment
2
A Little History
  • Years ago
  • Capitalized by System
  • Then came the idea of
  • Capitalizing by components
  • Now we have come full circle and are
  • Capitalizing by Systems

3
Capitalizing Under two methods
  • Prior 2010 components have Property Numbers
  • Capitalized by components
  • A Component must be surplused
  • Replacement Component capitalized
  • Provide Cost of each major component
  • Currently Systems have Property Numbers
  • Capitalize by systems
  • Example
  • AS System
  • SVE System
  • Enclosure, CP T
  • Provide Cost of Systems

4
Example List components of Systems
Currently
  • Advantage to Capitalizing Systems do not
    capitalize or surplus components
  • Still need makes, models and serial numbers
    of components

    Items with a cost of 1,000. or more
    must be listed as a component of a system
  • AS System
  • Compressor 1
  • Compressor 2
  • Heat Exchanger 1
  • Heat Exchanger 2
  • Manifold AS
  • Control Panel
  • Telemetry
  • SVE System
  • Blower
  • Heat Exchanger
  • Moisture Separator
  • Transfer Pump
  • Bag Filter
  • Manifold VE

So you have a repair - replaced compressor
5
Repair (This is the advantage of Capitalizing
systems)
  • Shoot me an Email
    equipmenthelpdesk_at_wrscompass.com
  • Need to up date the database with new
  • Make and Model Numbers
  • New Serial numbers
  • Specifications
  • HELPFUL WITH RE USE PROGRAM
  • You will say
  • When you need Equipment for reuse!

6
Need 4 Supporting Documents to capitalize
equipment
  • Property Reporting Form (PRF)
  • Manufacturers Invoice
  • Page 1 of the Contractors Invoice
  • Section G-1.1 of the template W/Changes

7
Please use Revised PRF
  • Located on the DEP Website
  • Announcements and Upcoming events
  • Equipment information

8
Enclosure Vs Systems
  • Price Enclosure
  • Building
  • Trailer
  • Cargo Container
  • Price Systems
  • AS
  • SVE
  • MPX/DPX
  • Oxidizer
  • Carbon
  • Other could be
  • C-Sparge
  • Ozone
  • Carbon
  • 55Gal drums are Never Capitalized

9
Revised Property Reporting Form
Note Enclosure, CP Telemetry is Priced
separately but will be given one Property
Want to see in G1.1
10
Revised Property Reporting Form
One enclosure per Property Reporting Form
11
An Oxidizer
  • Will always have its own Property Reporting Form
  • Oxidizers are Going Places Usually on Trailers

12
Potential Component List The components
will need to be entered under Systems
Potential Component List for Systems - on the 2nd
Tab of Property Reporting Work Book Form
  • AS System
  • Compressor
  • Heat Exchanger
  • Manifold AS
  • Control Panel
  • Telemetry
  • SVE System
  • Blower
  • Manifold VE
  • Moisture Separator
  • Air Stripper Tray
  • Air Stripper Tower
  • Equalization Tank
  • Knock Out Tank
  • Transfer Pump
  • Bat Filter
  • Control Panel
  • Telemetry

13
Use the Potential Component List for entering
components under systems
14
Equipment has been Capitalized
  • You will Receive Property Letter listing
    equipment
  • Is this CORRECT? If not, let me know
  • You will see this list each year AS YOUR
    INVENTORY!
  • Make sure decals are attached to equipment

15
Receive New Property Numbers
2 Need Signature of SM or OM Inspector /
Consultant
1 Return signed copy of Property Letter
or Email signed copy
16
Property Letter
Are All items listed? Any major component not
listed??
NOTE Enclosure Trailer Listed
Is the letter Signed??
17
Site Manager has Decals and
Returns CORRECTED. Property Letter
Hey Bob This aint no Trailer
!!!
But the Property Letter says its a
Trailer !!
Better make correction to
Property Letter
18
Signed Property Letter
  • Needs to reflect equipment Purchased on the
    indicated work order.
  • Existing Property and Transfer Property will
    not be listed on Property letter
  • (But will be on the end of year Inventory)

19
Questions ??
  • Questions before we talk about Titles?

20
Titles Certificates of Origin
  • ALL
  • Starts with the VIN Number
  • (Vehicle Identification Number)

21
Did you Know.
  • A VIN Number has 17 digits
  • There is an algorithm for determining and
    checking VIN Numbers

22
Algorithm .Fun Facts
1-3 World Manufacturer identifier 4-8
Vehicle Attributes 9 Check digit 10 Model
Year 11 Plant Code 12-17Sequential Numbers
23
VIN and your Property Reporting Form
Trailer Mounted List VIN Number List
Dimensions
24
Certificate of Origin
  • Acceptable for Trailers less than 2000 lbs
  • AKA
  • MSO Manufacturers Statement of Origin

25
Certificate of Origin
  • Trailers more than 2000 lbs
  • Contractor required to provide Florida Title
  • VIN verification form W/ Certificate of Origin at
    the DMV
  • Florida Title
  • VIN verification forms are found at the DMV or I
    can provide one for you
  • An officer or Examiner from DMV must sign the VIN
    Verification Form

26
Florida Title
  • Need signature of Seller (Contractor)
  • Print Sellers name legibly
  • Leave buyer and price blank

27
Seller must sign here
Seller Must sign here
Print here
28
Format of the title may change
Print Name of Seller

Signature of Seller
29
Out of State Titles
  • Not accepted
  • VIN Verification is needed
  • Vin Verification Form PLUS Out of state Title
    at DMV
  • Florida Title

30
Vehicle Tags
  • There are NO -Universal Tags
  • Tags are on file at WRScompass
  • You may Request a vehicle tag
  • Return Required
  • When Trailer has been set up or moved to storage
  • (exception) if trailer is to moved again
    within 6mo.

31
Vehicle Tags
  • On File at WRS
  • Or
  • Tags on Trailers
  • Only if being moved within 6 months
  • Not in the possession of contractors

32
Still have a few Untitled Trailers
  • DMV 3 day Temporary Tag
  • For moving remediation equipment on wheels from
    one site to another
  • Cost 50.00

33
Thank you,
  • For your Attention.
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