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Department Asset Custodian Training

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Controller’s Office
Department
Asset Custodian
Training
Controller’s Office
Capitalized Asset
Management
Introduction
“The head of a custodial department and the
Principal Investigator have primary
responsibility for the care, maintenance,
records, physical inventory, control, and
disposition of inventorial equipment and
other University or extramurally-funded
property.” UCOP – BUS-29, Section C
Controller’s Office
Introduction
The purpose of this workshop is to acquaint YOU as asset custodians with
policies and procedures, tools and resources that are available to you in
caring for the University’s capitalized assets.
You can thus fulfill the goal of safeguarding the high-value assets of the
University in the best manner possible.
Controller’s Office
Who Are Those Guys?
CAM is a part of UCSF Controller’s Office Capital Accounting. It is
responsible for:
 Maintaining a database of asset information in the
PeopleSoft Enterprise Online Financial System,
 Capitalizing assets purchased, leased, donated or
transferred to UCSF,
 Monitoring campus-wide adherence to University
policies and guidelines,
 Maintaining inventory controls and accountability
systems,
 Organizing and implementing the campus-wide
biennial physical inventory
Controller’s Office
Who Are Those Guys? (continued)
- Reviewing and approving asset transfers to
other UCSF departments, UC campuses or
non-UC entities,
- Reviewing and approving the disposal of
excess property in accordance with applicable
policy and regulations and
- Providing consolidated reporting to UCOP and
other funding agencies.
Controller’s Office
A couple of definitions…
 Capital Asset - Any purchase of physical equipment with a cost greater
than or equal to $5000- (including sales tax, start-up supplies, delivery,
and installation) with a useful life greater than one year.
 For example, if you purchase a piece of equipment for $4800- it
will most likely be considered a Capital Asset after taxes, etc.
 Custody Code – The custody code is a 4-digit code issued by CAM at the
behest of the department. Each custody code requires a custodian who is
responsible for tracking the equipment. Departments are required to
supply a custody code number to Procurement Services when a
requisition is created.
Controller’s Office
Steps in the purchase of Inventorial equipment
1. Purchase order initiated in Bearbuy
2. Equipment identified, coded, and assigned a tag#
3. Custodian receives tag, affixes to equipment, and returns
tag form with model, serial#, and location
4. Biennial inventory and/or changes to equipment status are
updated with CAM.
Steps in the purchase of Inventorial equipment
1.Purchase order initiated in Bearbuy
2. Equipment identified, coded, and assigned a tag#
3. Custodian receives tag, affixes to equipment, and returns
tag form with model, serial#, and location
4. Biennial inventory and/or changes to equipment status are
updated with CAM.
Steps in the Purchase of Inventorial Equipment
пЃЅ Purchase Order generated in BearBuy
в—¦ At this time the Capital Equipment form should be used and
your custody code should be assigned by the
requestor/purchaser.
Controller’s Office
Purchase Order in BearBuy
пЃ±Capital Equipment Form
пЃ±Use this form for any Capital Equipment Purchase or
Capital software purchase
Controller’s Office
Be sure to fill in the custody code under the “Asset
Management” tab on Purchase Order
Controller’s Office
пЃЅ Purchase Order generated in BearBuy
в—¦ At this time the Capital Equipment form should be used and
your custody code should be assigned by the
requestor/purchaser.
 Get to know/contact the purchasers for your department.
 If you do not know who they are, get in touch and I’ll send you a
list.
 Familiarize them with your code & when to use it.
Controller’s Office
Steps in the purchase of Inventorial equipment
1. Purchase order initiated in Bearbuy
2. Equipment identified, coded, and assigned a tag#
3. Custodian receives tag, affixes to equipment, and returns
tag form with model, serial#, and location
4. Biennial inventory and/or changes to equipment status are
updated with CAM.
пЃЅ CAM (Capital Asset Management)reviews the PO:
в—¦ Assigns an EQ code (this is a code used to establish useful life of equipment)
в—¦ Assigns a tag# (You will receive the tag with tag form shortly after to fill out).
Controller’s Office
Property Tag
Steps in the purchase of Inventorial equipment
1. Purchase order initiated in Bearbuy
2. Equipment identified, coded, and assigned a tag#
3. Custodian receives tag, affixes to equipment, and returns
tag form with model, serial#, and location
4. Biennial inventory and/or changes to equipment status are
updated with CAM.
пЃЅ Custodian Receives Tag:
в—¦ Affix tag to associated equipment
в—¦ Review description and send back the model
number, serial number, and location
Role of the Custodian
пЃ± Liaison between CAM and the Department
пЃ± Primary contact point for Department
пЃ± Provide current information to CAM to assure accurate
records
пЃ± Insures University and Federal requirements are met (i.e.
donations, transfers, disposals, etc.).
Controller’s Office
Definitions
пЃ±For discussion purposes today the only
definitions that will be included are those
required to create an asset file in PeopleSoft
and for reporting to UCOP. However, the
manual lists many others and the custodians
should be familiar with all of them.
Controller’s Office
Definitions (continued)
 - CAAN/Location – An up to 8-digit code representing building AND room.
Federal Regulations require both building and room number.
 - Custody Code – The custody code is a 4-digit code issued by CAM at the
behest of the department. Each custody code requires a custodian who is
responsible for tracking the equipment. Departments are required to
supply a custody code number to Procurement Services when a
requisition is created.
Controller’s Office
Definitions (continued)
пЃ±
пѓј
пѓј
пѓј
пѓј
Inventorial Equipment –
A single unit,
freestanding,
non-expendable,
with a cost (including sales tax, delivery, and start up accessories and
supplies) equal to or greater than $5,000.00.
 Property Number – A nine-digit number printed onto a barcode tag that is
affixed to the equipment as a unique identifier.
Controller’s Office
Definitions (continued)
Groupings within the 9 digits – nn+nn+n+nnnn
First two digits –year asset was added to the
asset inventory (last 2 digits)
Second two digits – UC Campus that originally
acquired asset (e.g. 10=Berkeley; 20=S.F.)
пЃ±Fifth digit (under UCSF) - 0 for Campus, 3 for
Gallo Clinic, 5 for Medical Center, and 9 for
Vehicles.
пЃ±Last four numbers - issued sequentially to
uniquely identify each asset.
Controller’s Office
Definitions (continued)
 Manufacturer – The company that produces or OEMs the equipment
 Model Number – The number assigned by the company to identify specific
versions of equipment.
 Description – This is a simple one or two-word field to help the custodian
locate equipment.
 EQ Code – A 5-digit (one alpha and 4 numeric number) code that is based
on the type of equipment and is used by UCOP to calculate depreciation.
Controller’s Office
Primary Responsibilities
пЃ±1) Change of Custodian
 Custodian Maintenance Form
пЃ±2) Property Tag
пЃ±3) EIMR form
 All additions to inventory
 All removals of equipment
пЃ±4) Biennial Physical Inventory
пЃ±5) Physical Inventory Audit
Controller’s Office
Change of Custodian
пЃ±Fill out Custodian Maintenance form.
пЃ±Include all custody codes the change is
applicable to.
пЃ±Obtain approval (sign off) from the Financial
Administrator or Business Officer.
пЃ±Send or email the form with Section 2
completed to CAM.
Controller’s Office
Primary Responsibilities
пЃ±1) Change of Custodian
 Custodian Maintenance Form
пЃ±2) Property Tag
пЃ±3) EIMR form
 All additions to inventory
 All removals of equipment
пЃ±4) Biennial Physical Inventory
пЃ±5) Physical Inventory Audit
Controller’s Office
Property Tag
Controller’s Office
Primary Responsibilities
пЃ±1) Change of Custodian
 Custodian Maintenance Form
пЃ±2) Property Tag
пЃ±3) EIMR form
 All additions to inventory
 All removals of equipment
пЃ±4) Biennial Physical Inventory
пЃ±5) Physical Inventory Audit
Controller’s Office
Provided by
CAM
Let’s us
know what
you want to
do.
Item
Description
1) Surplus
2) Transfer to
another
department
3) Sale
4) Remarks,
always include
Signatures
Controller’s Office
New Assets
 Equipment may be added to a department’s
inventory in the following ways:
- A Purchase Order is processed through
Procurement Services.
- A Lease Agreement > $100,000 total value
- A department receives a gift (cleared by
Development Office)
- Equipment is transferred from another
institution
or UC Campus
- Equipment is borrowed from an outside
institution
Controller’s Office
Principles of Equipment Disposals
пЃ±A department may dispose of equipment
ONLY IF the University holds title.
пЃ±An EIMR must be submitted whenever
equipment is to be removed from a
department’s inventory.
Controller’s Office
Retiring Assets
1) Send to Surplus Sales for public sale or
disposal.
2) Destroyed or cannibalized for parts
3) Stolen. EIMRs reporting stolen equipment
MUST include a police report number.
4) Intercampus Transfer
- letter from department head
- Other campus EIMR with signature of recipient
campus equipment manager
- EIMR from department
5) Lost
Controller’s Office
Retiring Assets (continued)
6) Donate to a non-profit or educational institution.
The following procedure must be followed per BUS-38:
- Requesting agency submits request on letterhead
- Dept Head verifies in writing that equipment is no longer useful in
dept
- Department submits request, letter, and EIMR to CAM.
7) Sold to another non-UC non-profit entity in conjunction with
faculty move.
Controller’s Office
Primary Responsibilities
пЃ±1) Change of Custodian
 Custodian Maintenance Form
пЃ±2) Property Tag
пЃ±3) EIMR form
 All additions to inventory
 All removals of equipment
пЃ±4) Biennial Physical Inventory
пЃ±5) Physical Inventory Audit
Controller’s Office
Physical Inventory - Purpose
пЃ±The reason for the physical inventory is to
produce an accurate inventory through:
пЃ±Physically locating equipment that is in use,
пЃ±Removing from the database equipment not found, and
пЃ±Adding high value equipment which is being used but is
not included in the asset list.
пЃ±Updating existing equipment attributes (Description, Mfg.,
Model, Ser. ID, etc.)
Controller’s Office
What Is At Stake?
 Federal funding requires system-wide compliance
with their asset management policy and procedures
 Certification as a Federally compliant research facility
is contingent on adherence to established guidelines
 UC Office of the President financial reporting
requires up-to-date inventory information
 Campus Facility and Administration (F&A) rate is
affected and
 Insurance payments in case of loss, theft, or disaster
hinges on substantiation of location recorded in the
system.
Controller’s Office
Physical Inventory – Process
пЃ±Per State and Federal regulations complete
inventory of campus and medical center
required every 2 years.
пЃ±CAM will provide custodian with a list of
equipment by custody code.
пЃ±Custodian embarks on search or organizes
search party to locate and verify each piece of
equipment listed.
Controller’s Office
PROCESSES
Physical Inventory Process (Continued)
The notification email will include the following attachments:
пѓ�List of Assets
List is arranged first by building code/room number, then by
property tag number and furnished in both PDF and Excel file
formats.
пѓ�Instruction Sheet
пѓ�Link to online tools
Tools include schedules, forms, building code lists, comprehensive
information and instructions and other resources helpful toward a
successful completion.
10/4/2013
Process (continued)
пЃ±During the inventory process the custodian
should verify the following attributes which
can be changed if necessary:
пЃ±Location - Building (CAAN) and room number
пЃ±Description
пЃ±Manufacturer/Model Number
пЃ±Serial Number (should be provided if not listed)
Controller’s Office
Process (continued)
пЃ±Attributes that cannot be changed by the
department are:
- Property Tag Number
- Cost
- Original Dept ID/Fund
Controller’s Office
Primary Responsibilities
пЃ±1) Change of Custodian
 Custodian Maintenance Form
пЃ±2) Property Tag
пЃ±3) EIMR form
 All additions to inventory
 All removals of equipment
пЃ±4) Biennial Physical Inventory
пЃ±5) Physical Inventory Audit
Controller’s Office
PROCESSES
Physical Inventory – Field Audit
пЃ¶ All submittals for a particular month are subject to a random sampling audit.
 CAM randomly selects 10% of the asset population sent in during the targeted
month.
 CAM emails custodian with assets to be verified clearly identified.
 A CAM team member and the department asset custodian travels to the
location specified in the physical inventory findings by appointment to confirm
accuracy of reported data.
пЃ¶ An error rate of 10% or less of sample population constitutes a successfullycompleted physical inventory.
пЃ¶ An error rate of greater than 10% requires a second random sampling audit.
пЃ¶ If the second audit is unsuccessful, all custodial departments submitting physical
inventories for the target month will need to re-take their physical inventories.
Controller’s Office
PROCESSES
Physical Inventory – Summary
The departmental physical inventory is
considered complete when:
пѓ°Custodian returns listing with corrections;
пѓ„CAM enters corrections and sends the updated
inventory report to custodian;
пѓ„Custodian and department head signs off that the
inventory report is accurate;
пѓ„Statistical sampling audit produces 10% or fewer
errors.
Controller’s Office
EPILOGUE
Where’s the Help?
пЃ± Asset Custodian Training Workshops held periodically
 Controller’s Office Website at: http://controller.ucsf.edu/
Capital Accounting & Equipment






FAQs
Policies
Procedures & Job Aids
Training
Forms
Contacts
пЃ± Department Asset Custodian Manual handed out at the workshops and available for
viewing or printing from Controller’s Office website
пЃ± WebLinks Asset Management Report (AM) module accessed for historic equipment
information
пЃ± Desktop Training Program, one-on-one training for asset custodians. CAM sends a
team member at department’s invitation to discuss the responsibilities of the position,
how to access online resources and any unique challenges the custodian faces.
 Controller’s Office Monthly Electronic Newsletter
Controller’s Office
• http://controller.ucsf.edu/
• http://controller.ucsf.edu/
Overview – Introductory information if you are new
Controller’s Office
• http://controller.ucsf.edu/
Forms related to capital accounting
Controller’s Office
http://cpbc.ucsf.edu/
EPILOGUE
Who Can I Call?
• Physical Inventory Contact – Terence Hurley
terence.hurley@ucsf.edu 415-502-2657
• Equipment Accounting - Angela Farren
angela.farren@ucsf.edu 415-502-5642
• Equipment Invoices - Jim Antuk
jim.antuk@ucsf.edu 415-476-2885
•
Capital Accounting Supervisor – Renee Boyd
renee.boyd@ucsf.edu 415-502-3042
•
Capital Accounting Manager – Amy Nichelini
amy.nichelini@ucsf.edu 415-476-2997
The End
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