Presentation on theme: "Inventory Policies and Procedures"— Presentation transcript:
1 Inventory Policies and Procedures DE-437 (Required)Welcome!Introductions*Name*Department*Think of a time when you lost something, but later found it. What was it? Where did you find?*Mine: Lost the keys, remembered Seth playing with door to gas outlet, there were the keys!
2 Class ObjectivesEstablish an understanding of Inventory and Inventory’s role.Understand why a physical inventory is conducted.Understand the basic steps of performing physical inventory.Recognize the importance of updating inventory statuses and locationsWhat will be covered in the training.
3 Why is inventory management so important? Because The University of Texas at Austin has over $2 billion worth of assets in which to maintain and report to the State of Texas and over $160 million reportable to federal agencies.The best way to track equipment is to know where the equipment is at all times. Always update the location of an asset in *DEFINE commands NV1, NVP, or the FRMS Departmental Inventory Portal when the location changes!!!!!Because The University of Texas at Austin has over $2 billion worth of assets in which to maintain and report to the State of Texas and over $160 million reportable to federal agencies. And the number of assets increases each year.The university undergoes several audits throughout the year in which accurate location, serial number and asset barcode tag controls are tested.The Office Naval Research Federal audit approves our system based on the accuracy of tested data which allows us to operate and receive future contracts or grants.We are also required to report the number of missing/unfound and stolen assets to the state.We must remain at below 2% of reported lost items in order to avoid a monetary penalty. One of the easiest ways to know where your items are at all times is by updating the location in *DEFINE or the FRMS departmental web portal!Be sure to update the location when something moves.
4 Let’s keep UT out of the headlines! VA example – Read headline, date, and 3rd paragraphWeapons example – Read headline, subhead, and dateNuclear material example – read the article
5 Whose “stuff” is it anyway? All equipment is consideredstate property unless designated asfederal or privately owned!Ownership codes for an item aredetermined by funding source:Look for the following on your equipment listingto determine who owns the asset:U-University, P-Private, F-FederalRead slide verbatim.All UT property is considered state propertyThe funding source will determine the ownership.In addition to state and federal property, we also track private property in our system ( bought on awards/grants/contracts). We track equipment transferred into the university from other State Agencies or Universities as well as gifts donated to the university. Keep in mind any equipment received at the university whether funds were used in the acquisition of the item or not it is considered UT property.In define and on the NVP report you can see the ownership by reviewing if there is a U-university, P-Private and F- Federal. This can also be seen on Nv1 screen 1. Please remember all federal items also require a federal tag in addition to UT barcode tag.These are the things that are reviewed as part of the audits.
6 How are assets acquired? Purchases - purchase orders, Procards (VP7), etc.Noncash gifts from vendors, individuals, etc. must be reported through the University Development Office.Transfers into the university as a result of a Principal investigator (PI). Notify Inventory Services atInter-agency transfers from another state agency such as TX DOT, UTMD Anderson. Complete and submit form Property Transfer Receipt – Incoming to Inventory Services.How are assets acquiredPurchases such as purchase orders VP documents and credit card VP7 procards documents.While purchases encompass the majority of the university’s equipment there are other ways the university may acquire inventory.Noncash gifts from vendor’s or individuals Your department may be the recipient of gifted or donated equipment. For example IBM donates a set of servers to a your department. The donation must be reported through the university development office. then once finalized Inventory services will be contacted by development office.Transfer into the university and interagency transfers. A Professor comes to the university or your department receives property from an agency outside of the university. These are called inter-agency transfers and may have transfer charges associated. Despite whether a Purchase Order is issued or VP payment document is issued for any transfer charges these items are still considered as transferred-in property and require that a form to be completed and submitted to Inventory Services.
7 How are assets acquired? Continued Equipment transferred to the university from a non-Texas state agency or private institution. Submit the Non-Texas State Agency Incoming - Property Transfer Receipt form to Inventory Services.Equipment found in the department that meets the controlled or capitalized thresholds but was assigned a noninventory object code and therefore not in *DEFINE. Notify Inventory Services at of this equipment.CCART NT1 electronic transfers from other departments.Read slide verbatim. Be sure that you are notifying Inventory services when you receive transferred equipment by completing the appropriate forms. Include a comprehensive equipment listing.Visit the Inventory Services webpage for the necessary equipment forms and instructions.Found in the Department. What does this this really mean?Sometimes departments run across an item that has gone untagged or is tagged but was never added to *DEFINE. If the item is a “controlled” or “capitalized” item meeting the current thresholds, Inventory will add this item to the system.Why does this happen?Improper assignment of transaction object codes is the major culprit or Inventory Services was never notified when the item arrived.Lastly for items that have been acquired via a CCART electronic transfer be sure to verify that you have the item before accepting or finalizing the CCART document. Then update the location of the item in *DEFINE or FRMs web portal.For assistance with any of the processes discussed please Inventory Services at
8 How are assets acquired? continued Completed fabrications or CIP - departments complete construction of one of a kind item. See HBP for definition of fabrication:Handbook of Business Procedures (HBP) Fabrication/Cannibalization of Equipment.Government-furnished equipment - GFE equipment is furnished by the U.S. government to the university to be used for research and development in research contracts or grants. Title is with the U.S. government.Federal excess personal property - government-furnished equipment that is obsolete to the governmentFor any questions regarding CIP, GFE, and FEP, contact theFederal Inventory team atRead verbatim
9 Non-monetary GiftIf your department receives any non-momentary or noncash gift such as equipment, furniture , software, artwork ,or vehicles from an individual donor or corporation please report these assets to the UT Development Office for appropriate recording.Inventory Services is notified by the Development Office once the gift process has been finalized for possible inclusion to the Inventory system.Because of IRS tax donor credit once added the gift must remain in *DEFINE for two years before it can be disposed of or transferred to surplus. The department should contact the Development office if such a need arises before the 2 years.Read slide verbatimOnce notified by the development office Inventory services determines based on asset type and gift value whether the gift meets controlled or capitalized thresholds for inclusion to the Inventory system. Remember if you are unsure of whether your item qualifies as a gift you should contact the Development office at or if you need to dispose of the gift before the 2 years it is required to remain in the unit’s possession.
10 Inventory Services Role Maintains equipment inventory records on shared mainframe database.Locates and tags university equipment as it is purchased and received by departments. For departments that self-tag, we use their details to add assets to *DEFINE.Conducts and monitors the annual physical inventory cycle. Audit those reports submitted by the university departments.Federal agencies: Office of Naval Researchmention that this comprises of their certifications and that is why it is so critical that they comply with the certification deadlines or something to that affect. Mention that as of 8/31 the Define system resets itself for the new FY so NVP reports will no longer reflect scanned data for the previous FY. Late certifications are viewed as non compliant.
11 Inventory Services Role Provides inventory information and reference resources to department personnel.Ensure that university and state policy guidelines are being met.Reports and reconciles inventory records and values to:Annual financial report schedulesState of Texas Comptroller’s OfficeFederal agencies
12 The Inventory Contact’s Role Tracking (tagging and updating item’s locations in *DEFINE or Inventory web portal if asset moves)Reporting (conduct annual physical inventory and report results on certification)Reconcile (NVP department equipment listing to what you have in your possession andcomplete IRR removal forms for relinquished equipment)These are the concerns that the departmental inventory contacts need to know and will be held responsible.
13 Tracking Inventory What gets tagged? Capitalized Assets—assets whose purchased value is equal to or greater than $5,000Controlled Assets—assets whose cost is between $500 and $4, and fall under the special category designated by the stateMention that some assets are tracked regardless of costArt, books, Library collections
14 Examples of Controlled Equipment ($500 to $4999.99) cameras & camcordersprojectorsstereo systemstelevisions & VCRscomputers: desktop CPUs or portable laptopsSmart Phones, Tablets and other HandHeldshand guns & rifles, regardless of cost
15 What is not controlled? computer-related equipment not PC’s or laptops scientific equipmentmonitorsprinters or servershard drivescardsfurnitureSoftware - “Software must be 100K or more to be capitalized and Licenses must be greater than 1 year”.In order to be tagged and included on your inventory, this equipment must be $5,000 or more in value (it becomes capitalized).These are items which UT does not consider controlled and will not be maintained in Define. In the event that these items are valued at $5K or more, they are then considered capitalized and will be added to Define.
16 Tracking Inventory Tagging the Equipment Inventory field representativesThey are deployed automatically based on purchasing data.To request tagging,Departments that participate in self-taggingAfter tagging assets, these departments send the tagging detail to Inventory Services for processing.This information should be sent monthly.Tagging:Performed by Inventory Services unless the department is a self tagging department.Inventory field reps are deployed automatically based on purchasing data.Occasionally items will be miscoded, please only us if we haven’t been out to tag your item and it’s been more than a month or if you're in a hurry (laptops/items that must be moved etc)
17 Tracking InventoryAll “capitalized” or designated “controlled” assets must be tagged within 30 days of receipt. “See Best Practices for self-tagging on our web page”https://www.utexas.edu/business/accounting/in/Any asset not meeting the “controlled” or “capitalized” thresholds should have a non-inventory object code and will not be added to *DEFINE. These assets can be tagged with blank tags that identify the item as UT property but do not have a tracking number.
18 Why do we conduct a physical inventory? When do we perform inventory? Questions you may have when conducting physical inventory. Who? Why? When? And How?Who is designated as the inventory contact responsible to ensure that my department is compliant?Why do we conduct a physical inventory?When do we perform inventory?How is physical inventory performed?As an inventory contact, you may be asking yourself these questions.How much time will I need to devote to inventory while managing my other responsibilities?Why do we even do this?How often do we have to do inventory?The following slides will go into more detail and hopefully answer these questions for you.
19 If you are assigned the role of the inventory contact for your area: To determine who is your contact see *DEFINE command GG5 for contact information for your departmentIf you are assigned the role of the inventory contact for your area:Verify the *DEFINE GG5 screen for accuracy.Work with your supervisor and team members to determine which unit codes you are responsible for.Be sure that the correct inventory contact is listed in GG5 for all units and subunits in your department . If your name is listed, you are responsible.NVP reports are run from Define with the NVP command.From the NVM screen in Define select option 4. NVP PHYSICAL INVENTORY BY UNIT/LOCATION UNIT CODEOnce in the NVP screen, press the “shift” and the “F3” key togetherYou are now at the NVP Job Submission screenSelect line 2 - INJGNVP1 PHYSICAL INVENTORY CYCLE REPORT - SINGLE UNIT/SUBUNIT, by marking an “X” and press “enter”Tab down to “Unit To Report” and type in the unit code of choiceIf you want to see all sub-units as well then only type the first 4 digits of the main unit code and then “…”Example: “2500…”Leave the remaining fields blank and press “enter”.A pop-up will come on the screen entitled “Please Confirm”. Simply press enter.Press enter again and the system will give you a “Job” number.Your NVP report will print out at the UT Copy Center located at the Social Work Building Room G14.Mention that you will be going through the steps but that detail instructions exist on our web page. If possible provide the link on the slide.
20 *DEFINE command GG5 can be updated via the OHS system To assign department contacts at the unit code level, go to List Contacts in the (OHS) Organizational Hierarchy System. This new system will allow you to assign secondary or backup contacts. https://utdirect.utexas.edu/ohs/contacts/ To update the unit head of a unit, complete the complete the Signature Desk Request form
21 Why do we conduct a Physical Inventory? The provisions of the 52nd Legislature:Regular Session 1951House Bill Number 753, Section 5 (3)Requires state organizations to take a complete physical inventory of all equipment in their possessions once each yearResults reported to:State ComptrollerTEX.GOV’T CODE ANN.sec (b)The provisions of the 52nd Legislature, Regular Session 1951, House Bill Number 753, Section 5 (3), require state organizations to take a complete physical inventory of all equipment in their possession once each year.The results of the inventory are reported to the State Comptroller as authorized by TEX.GOV’T CODE ANN.sec (b)
22 When do we perform Inventory? Inventory Services establishes eight inventory cycles. Cycle deadlines are based on the number of items assigned to the departments. The deadline for Cycle 1 is Jan. 27, All other Cycle deadlines will occur between February through June.The FY13-14 cycles have been posted to the inventory web page and may be viewed at anytime.Please Note-You may begin your inventory at any time the system is open- the earlier the better.Most important that you turn in the inventory by the assigned due date.Please mention that this data will be on our web page (spreadsheet) so they can view to see what their due date is and no longer need to call us to get that information.Please mention that they can search by unit code or contact name. We want them to learn to fish so pointing them to where data exists that they can access is best.
23 How is physical inventory performed? Manual status update to *DEFINE or Inventory web portal if you have 100 items or less.Status updates via scanning your equipment.Once *DEFINE is open you may request ascanner by ing:
24 Complete Four Basic Steps The annual physical inventory process is a procedure performed annually to account for assets and equipment belonging to the university.4. ReportUse the NVP report:3. Reconcile2. Scan1. Locate
25 Tips, Tidbits, and Hints Start early. Keep a trail of paperwork. Make copies.Use correct inventory forms.Notify Inventory Services of untagged or tagged equipment not on *DEFINE that meets the threshold.Request a new barcode/tag when:damagedwornmissingwill not scanIf Self-tagging, communicate New Tag info.Don’t wait until you are notified of your due date
26 Safeguarding Assets Be organized. Keep a record of off-campus equipment.Be observant.Frequently monitor all current assets.Be perceptive.Keep an eye on equipment awaiting Surplus pickup.Be efficient.Keep track of assets out for repair.
27 I have been designated as the contact for my department Visit the inventory services web page To access forms, links to CCART transfers, FRMS departmental web portal and certification due dates Additional Resources Assigning Inventory Object Codes* - New Capitalized vs. Controlled Object Codes Depreciation Calculation Template (Excel Format) Inventory Best Practices* - New Inventory Contact Guide* - New List of Controlled Items* List of Controlled and Capitalized Items* Self Tagging Template (Excel format)
28 Before You BeginKnow your certification due date and gather tools and materials to meet the deadline.Run a current NVP report of departmental assets. For a step by step guideReview the building/room list from the NVP for your areascanner for those departments with greater than 100 items (this has to be scheduled) to make arrangements.NVP reports are run from Define with the NVP command.From the NVM screen in Define select option 4. NVP PHYSICAL INVENTORY BY UNIT/LOCATION UNIT CODEOnce in the NVP screen, press the “shift” and the “F3” key togetherYou are now at the NVP Job Submission screenSelect line 2 - INJGNVP1 PHYSICAL INVENTORY CYCLE REPORT - SINGLE UNIT/SUBUNIT, by marking an “X” and press “enter”Tab down to “Unit To Report” and type in the unit code of choiceIf you want to see all sub-units as well then only type the first 4 digits of the main unit code and then “…”Example: “2500…”Leave the remaining fields blank and press “enter”.A pop-up will come on the screen entitled “Please Confirm”. Simply press enter.Press enter again and the system will give you a “Job” number.Your NVP report will print out at the UT Copy Center located at the Social Work Building Room G14.Mention that you will be going through the steps but that detail instructions exist on our web page. If possible provide the link on the slide.
29 To access and print the NVP report from *DEFINE Please enter your next command<<*DEFINE INVENTORY FUNCTIONS MENU - NVM Year: 13 14Command: NVM Inventory Nbr: ________ Misc: _______________ Month: OCT==========================================================================COMMAND FUNCTION: MISCELLANEOUS1. NV DISPLAY BY INVENTORY NUMBER ELEMENT NBR-OPTIONAL2. NV DISPLAY BY UNIT-CODE UNIT-CODE3. NV DISPLAY BY SERIAL-NBR SERIAL-NBR4. NVP PHYSICAL INVENTORY BY UNIT/LOCATION UNIT CODE5. NVR INVENTORY DATA WAREHOUSE REPORTS INVENTORY STATUS6. NVB INVENTORY BALANCES BY UNIT CODE UNIT CODE7. NV DISPLAY BY DOC-ID DOC-IDSELECT #4 FROM THIS SCREENFor step by step guide to running an NVP Report*:
30 Printing NVP report:Pick up the NVP print out at the UT Copy Center located at the Social Work Building Room G14.It is usually ready in about an hour.You can also use screen shots.
31 Why can’t I use the online *DEFINE NVP report for my certification? The printed NVP report will contain purchasing, serial # , and percentage stats not seen from the *DEFINE online command or the FRMS departmental web portal*DEFINE PHYSICAL INVENTORY BY UNIT/LOCATION - NVP YearCommand: NVP Inv. Nbr. ______ Misc: ________ Month: OCT==================================================================Dept: OFFICE OF ACCOUNTING Show Items Found: X Not Found: X View: 1by Inv Nbr: X Start Inventory Nbr:by Location: _ Site: __________ Bldg: __________ Flr: __________ Rm: __________Status InvNbr Elm Site Bldg Floor Room Description Item Cost_ UTM_ ____ 132______ MICROFILMER/ENDO ,929.25_ UTM_ ____ 132______ 1998GMC SAFARI V ,500.00_ UTM_ ____ 132______ CAMERA, SONY_ UTM_ ____ 132______ 2003 CHEVY TRAIL ,616.00_ UTM_ ____ 2.302____ DELL LATITUDE E ,882.86_ UTM_ ____ 2.352____ DELL LATITUDE E ,882.86_ UTM_ ____ 132______ EPSON POWERLITE_ UTM_ ____ 1510_____ DELL LATITUDE D ,538.88_ UTM_ ____ 110______ DELL AX4-5F (DUA ,606.61_ UTM_ ____ 110______ DELL AX4-5F (DUA ,548.60_ UTM_ ____ 110______ DELL QUAD CORE X ,249.90_ UTM_ ____ 110______ DELL QUAD CORE X ,275.52_ UTM_ ____ 110______ DELL QUAD CORE X ,249.90_ UTM_ ____ 110______ DELL QUAD CORE X ,555.9
32 Understanding the NVP Report printout Understanding the NVP Report printout. Each report consists of 2 sections:Found New fiscal year acquisitions are typically indicated as “found” when they are added to your inventory. CIP- construction in progress. NETL-items found through the (UNET) Network locator Not Found (need to locate) Items transferred in Any prior-year asset acquisitions Items previously indicated as missing-continue to look for these items and change the status if the item is found. You do not need to remark as missing if the asset was not found during the annual physical inventory process.Please note once an item has been “Found” for the fiscal year, it is not necessary to indicate it as found again.Simply make location updates whenever necessary.If an item is listed as missing, please look for the item and change the status only if it has been found. Otherwise, it remains missing and no change needs to be made.Understanding the NVP ReportFound —new fiscal year acquisitions are typically indicated as found when they are added to your inventory. Please note once an item has been “Found” for the fiscal year, it is not necessary to indicate it as found again. Simply make location updates whenever necessary.Not Found —items transferred in and any prior-year asset acquisitions. These are the items you will need to locate.Also included in the “Not Found” section are items previously indicated as missing. If an item is listed as missing, please look for the item and change the status only if it has been found. Otherwise, it remains missing and no change needs to be made.
33 Additional Information: 9XXXXX Numbers Why are there inventory numbers on my NVP report beginning with ‘9’ that are not affixed to my equipment? Because of system limitations, Inventory Services must clear out the *DEFINE NU1 screen at the end of the fiscal year and assign virtual numbers for tracking and reporting purposes. Do I need to find these items? Yes. Part of the certification requirement is to work with Inventory Services to get any items with these virtual numbers converted to university barcode tags that can be scanned. Only software, CIP, or artwork can have a virtual number.Read verbatimAs stated earlier if you self-tag please make sure that your tagging data is being sent to Inventory services weekly and follow-up if submitted data has not appeared in *DEFINE during the months we are operational to ensure nothing is missed.Inventory services will assign a virtual tag for any transactions we have not received tagging data for during the mid year clear that occurs in March and at fiscal yearend.Please keep in mind virtual tags are not affixed to the items and cannot be scanned.
34 Additional Information: 9XXXXX Numbers-continued Notify Inventory Services:If you have virtual numbers for equipment other than software and artwork.Example: Dell G4 computer was taggedPlease include the serial number.Self-tagging:Tag equipment.Send spreadsheet to Inventory Services.Read verbatimRemember that a clean up of 9000’s numbers is required as part of Inventory certifications. Regardless if your department is self-tagging or office provides tagging service for your department. Only software and works of art can remain with a 9000’s.Please contact Inventory Services for clean up of the 9000’s numbers if your not self-tagging. If your not self-tagging we can deploy a tagger to help get the items tagged and updated in define.Hint: monitor 9000’s through the year to avoid a large amount of clean-up to be done.
35 What is New with the NVP equipment listing? In addition to purchased, gifted or transferred in equipmentthe NVP report will now include fabricated items also knownas CIP (construction in progress)What is fabricated or CIP equipment?Fabrication is a transitional state; completed items of fabricated equipment are recorded as capital equipment in the university's asset DEFINE system. Until that completion can be determined they are CIP.How do I account for these on my NVP? Do I need to find these items?No these items should already be indicatedas ‘found’.In addition to the comprehensive list mention that command ID1 in DEFINE as a way to research valid room locations for a building. If possible include a slide. It would be great to include a slide that shows them how to look up a building if all they know is the alpha like MAI = 0393
36 Characteristics of Fabricated Equipment one-of-a-kind itemsmeet unique research specificationscreated by assembling a number of components (manufactured or custom made)built or assembled from individual parts or materialsbuilt by or under the direction of university personnelMost fabrications are:sponsor-fundedhave a number of compliance requirements related to acquisition and trackingindividual pieces of equipment in an assembledfabrication.
37 How will I know CIP items from other items on my NVP Report? Inv #: Elem#: 1_____ OrigFY: 2010 LatestFY: 2011 Screen: 1 of 6 Active SW: X Amount: 194, Description: FABRICATION CHARGES WORK IN PROGRESS FY1011______________ Owner Code: F Purchase code: F > Federal Title - Held in Trust Unit Code: OFFICE OF ACCOUNTING Class Code: 090 Object Code: 1832 Acquisition Code/Date: 01 09/01/10 Source: CST Useful Life: Accum Depr: 194, Depr Expense: 194, Depr Value: 0.00 Loc Comp: 0 Site PRC_ Bldg 0190 Flr 01____ Rm A001______ Loc Notes: ____________________________________________________________ Missing or Stolen Code/Date: _ Found: Y 11/15/ Inventory comments: More Inventory Comments: + Fabrication addition______________________________________________________
38 The Inventory Federal team will be following up to see whether the construction has been completed or is still in progress.For any questions, please contact Federal Inventory atThe end product’s value is the sum of:All services purchased and used in the fabrication processExample: Welding, machine shop timeAll items purchased and used in the fabrication processmust become a permanent part of the end product’s valueUnless:destroyed during testingconsumed in fabrication.Upon completion, a fabricated equipment must have:an aggregate cost of $5,000 or morea useful life greater than one year.
39 Step 1: LocateUse the NVP report to locate assets identified as Not Found (need to locate)If you can’t find an asset, look everywhere:offices/classroomslabsclosets/storage areasprevious documentation/filescheck off campus forms or logscheck Request for Removal of Equipment formsask or coworkers to assist withlocating
40 Step 1: ScanWhen scanning barcodes during the inventory process, all equipment within any one room should be scanned. This will provide an update of the location to the actual equipment owners if another department owns it.Scanning an item will not change ownership.It will simply create a transaction line on NV1 Screen 3 for the inventory item showing the date and logon ID of the person who scanned the item.Read slide verbatim.If your department owns its own scanner please change the battery before you bring it in for programming. This will decrease the chances of losing data while scanning.Also remember to bring in your scanner for frequent uploads. Especially if scanning 200 hundred or more items. Don’t wait over the weekend before bringing in the scanner for upload.You can also request a second scanner to continue uploading.While scanning, if an item is:Not found—Notate this on the NVP report to further investigate or run a new NVP after downloading scanned results to see what still needs to be found
41 Step 2: Scan Continued While scanning, if an item is: Found Continue scanning until you finish or have reached approximately 200 items.Arrange to bring the scanner in to upload data.Repeat this process until all scanning is done.Not found—Notate this on the NVP report to further investigate or run a new NVP after downloading scanned results to see what still needs to be found.Since 200 is an approximate of when we suspect the olds scanners will require a download you can also mention that if they notice the scanner is slowing down between scans then they should bring in for a upload to ensure that data is not lost. The scanners have been known to retain about 1000 records but since they are old we don’t want to risk losing that much data. We are using new batteries in each of the scanners so we may not have this issue but it doesn’t hurt to mention that if they get a low battery message they should contact us as soon as possible. If they have been given a scanner it should be used and not left in a drawer for more than two days without use to get the best performance out of the scanner.
42 Step 3: ReconcileScanning takes care of most updates. Make notes on the NVP report printout of updates you need to make in *DEFINE or FRMS Departmental Inventory PortalUse either NVP or NV1 to make updates.NVP sorts by unit codeNV1 sorts by inventory number (more options)FRMS Departmental Inventory Portal -new optionNo item’s status should be left blank.Read Slide verbatim.Part of the reconciliation process is to:Update all status of items on the NVP report as to found or missing.Submit appropriate removal forms for all equipment no longer in possession and still listed in define or NVP report.Contact Inventory services for any items with the virtual numbers that begin with nine. Remember only software and artwork may remain with virtual numbers.Work with Inventory services if your department is above two percent of missing items.Be sure to turn in your certification by your due date.Your Inventory certification will not be considered complete if one or more of these items or have not been followed. If the certification is not received in a timely manner or has compliance issues you may be selected for a spot audit.
43 Step 3: Reconcile continued Certifications will not be considered complete until all blanks are finalized with either “Found” or “Missing.”If an item is listed on your NVP but is no longer in your possession and has been cannibalized, traded-in or has left UT submit the IRR request for removal as soon as possible.Track your items year round and not just during the certification process.
44 How do I keep track of off-campus inventory items? For items kept off campus, use the Respon EID field on the NV1 screen (2 ) in *DEFINE to list the item's custodian. Also include the off-campus location in the Loc Notes field. These fields can also be updated using the inventory web portal NOTE: at the departmental level, sign-out logs are required to be kept. You may use the Equipment Located off Campus form if your department does not have an existing method for logging equipment.
45 Off-Campus EquipmentSchedule a day for all off-campus equipment to be returned for scanning.Notify all staff who have equipment removed from campus to return those specific items on the scheduled date for inventory scanning.Get photo verification for any equipmentthat cannot be brought in for scanning
46 Updating in *DEFINE command NV1 The following fieldsmay be updated by the department:serial number and item Respon EID:(screen 2)Sitebuilding locationsfloorroom numbersequipment status—found ormissingPlease note -The location, status and responsibleEID of an item can also be updated via the inventoryweb portal. Always keep the location current!
47 Are You Really Missing an Item? Remember, every item counts.Before you mark that item as missing in *DEFINE NV1 or Inventory web portal:Make sure item is not being kept off campus, being repaired, or overlooked in the initial scan.Check your department records and databases for possible transfers, cannibalizations, disposals, etc.If item is a computer or laptop check with your IT/LAN staff
48 Are You Really Missing an Item? If the item you cannot find is a vehicle, please file a police report with UTPD. They have been successful in locating missing vehicles that have been abandoned or were impounded. Fleet Management requires that the police be notified when a vehicle cannot be located.Check *DEFINE screen 3 to see who last found the item.If you can’t locate the item, mark it as “missing,” butcontinue to look for it the next time you perform yourphysical inventory.
49 How and when would I look up a Login ID? See *DPUSER instructionsExample of when looking up a login might be useful:Screen 3 shows that a printer was last scanned by INCPJ in September 2012.You cannot find this printer, so you want to know who INCPJ is to follow up with him/her regarding this piece of equipment.If you follow the *DPUSER instructions, you should be able to get the following information:_ JACOBSON,CECILIA INCPJ INVENTORYType an M and Press Enter. The date that the item was markedas missing will appear on the right-hand corner next to themissing designation. If not found, the item will be removedtwo years from that date.Helpful information:To look up a logon ID, use *DPUSER. Refer to handout instructions:How can this help me?Example:Screen 3 shows that a printer was last scanned byINCPJ on Sept, You cannot find this printer, so you want to know who INCPJ is to follow up with them regarding this piece of equipment.If you follow the *DPUSER instructions, you should be able to get the following information:_ JACOBSON, CECILIA INCPJ INVENTORYWhat choices do I have?If you want the equipment back, you can retrieve the item.Transfer ownership by doing an NT1 transfer.
50 Looking up a Login ID continued The item is in my unit code what choices do I have?If you want the equipment back, you can retrieve the item.Transfer ownership and tracking responsibilities by doing a CCART transfer.Type an M and Press Enter. The date that the item was markedas missing will appear on the right-hand corner next to themissing designation. If not found, the item will be removedtwo years from that date.Helpful information:To look up a logon ID, use *DPUSER. Refer to handout instructions:How can this help me?Example:Screen 3 shows that a printer was last scanned byINCPJ on Sept, You cannot find this printer, so you want to know who INCPJ is to follow up with them regarding this piece of equipment.If you follow the *DPUSER instructions, you should be able to get the following information:_ JACOBSON, CECILIA INCPJ INVENTORYWhat choices do I have?If you want the equipment back, you can retrieve the item.Transfer ownership by doing an NT1 transfer.
51 Where on NV1 would I show an item as missing? Inv #: A Elem#: 1_____ OrigFY: LatestFY: Screen: 1 of 6| Previous Inv Nbr: A Active SW: X Amount: ,350.25| Description: EQUIPMENT STAGE DRAPERIES__________________________________|| Owner Code: U Purchase code: U| Unit Code: OFFICE OF ACCOUNTING| Class Code: Object Code: 1830| Acquisition Code/Date: /12/ Source: PRE| Useful Life: Accum Depr: ,350.25| Depr Expense: , Depr Value:| Loc Comp: 0 Site UTM_ Bldg Flr 01____ Rm 110_______| Loc Notes: __________________________________________________________________| Missing or Stolen Code/Date: _ Found: _|| Inventory comments: More Inventory Comments: +| Transferred from AQ-INVENTORY 08/24/96_____________________________________| Transaction comments: More Transaction Comments:| ____________________________________________________________________You would mark the item by entering an ‘M’ for missing In*DEFINE. Or by selecting the missing status on the inventoryweb portalWhere on NV1 would I show an item as missing?Type an M and Press Enter. The date that the item was markedas missing will appear on the right-hand corner next to themissing designation. If not found, the item will be removedtwo years from that date.Open Define for the class and review screens 1, 2 and 3Helpful NV1 screens and the type of information they provideScreen 1—Previous numberHistorical valueEquipment descriptionOwnership code-University, Federal, or PrivateOwning unit code or departmentSPA class code and if it is a “controlled” assetAcquisition dateUseful lifeLocationStatus—whether it is blank, Found or MissingScreen 2—Serial numberAccount number that initially paid for the assetPurchase order number, or if the item was purchased with a Procard, the doc ID will be listed. In the case of a gift, a gift docket ID or donor will be listedScreen 3–Transaction history on *DEFINE, such as transfers in and out of UTLogon of who last scanned or indicated an item as found or missingOwnership changesFor inactive records – write-offs due to threshold changes, number changes, and disposals of any kind
52 View Percentage of Unfound Items Unfound percentage includes items indicated as missing or left blank. Your NVP report has a percentage figure at the end of the listing.To view your unit’s unfound percentages without running a report, go to *INPERC from the COMPASS screen.Press ENTER and another screen will appear.Type the first four digits of your unit code, and press ENTER.How can I view my percentage of unfound items?Unfound percentage includes items indicated as missing or left blank:Your NVP report has a percentage figure at the end of the listing.To view your unit’s unfound percentages without running a report, go to*INPERC from the COMPASS screen. Press Enter, and another screenwill appear. Enter the first four digits of your unit code, and press Enter:Comp Unit Unfound % Unfound Depr Amt Total Depr Amt As of Date/Time% , , /08/03 00:48% , , /08/03 00:48You should not have at or above 2% in unfound. If you do, therecould be a penalty assessed. The penalty would be assessed on thedepreciated amount of any missing or stolen items with adisposal of 17, 18, 20 or 21.A high percentage of UNFOUND may indicate:TheftMake sure others know there is concern for theft.Poor SecurityKeep equipment under lock & key; keep sign-out sheets.Safeguard your assets!
53 View Percentage of Unfound Items Comp Unit Unfound % Unfound Depr Amt Total Depr Amt As of Date/Time% , , /08/03 00:48% , , /08/03 00:48You should not have at or above two percent unfound. If you do, there could be a penalty assessed.The penalty would be assessed on the depreciated amount of any missing or stolen items with a disposal of 17, 18, 20 or 21.How can I view my percentage of unfound items?Unfound percentage includes items indicated as missing or left blank:Your NVP report has a percentage figure at the end of the listing.To view your unit’s unfound percentages without running a report, go to*INPERC from the COMPASS screen. Press Enter, and another screenwill appear. Enter the first four digits of your unit code, and press Enter:Comp Unit Unfound % Unfound Depr Amt Total Depr Amt As of Date/Time% , , /08/03 00:48% , , /08/03 00:48You should not have at or above 2% in unfound. If you do, therecould be a penalty assessed. The penalty would be assessed on thedepreciated amount of any missing or stolen items with adisposal of 17, 18, 20 or 21.A high percentage of UNFOUND may indicate:TheftMake sure others know there is concern for theft.Poor SecurityKeep equipment under lock & key; keep sign-out sheets.Safeguard your assets!
54 Certification of Departmental Annual Physical Inventory Once you have completed all equipment scanning, manual updates , and you have done due diligence to find all missing assets you are ready to certify.The certification form certifies that:all items have been inventoried regardless of depreciated value.all items are accounted for within your department and their status has been updated in *DEFINE or via the Inventory web portal.all removal paperwork has beensubmitted.
55 Step 4: ReportDownload Certification Form from the Inventory Services website.The Certification Form must be completed and signed by:department chair or equivalentdepartment inventory contactA current and complete NVP report must be included with the certification formTurn in your inventory certification before orby the designated due dateRead slide verbatim.Reporting PhaseRun a current NVP report to show finalized results for your equipment listing.Download the certification form.Review certification instruction for sections A through F to appropriately fill out the Inventory certification summary section. Check all figures calculations as described on the inventory certification instructions using the current NVP report for the necessary numbers..Double check the signer and the inventory contact before turning in certification. If a department head is gone an equivalent can sign with explanation attached to certification .If any of the above is not followed it can result in certification approval being delayed until corrections are processed.
56 Relinquishing Inventory (Inventory Request for Removal) Transfer or RemovalType of RemovalsThree–Step process for removing
57 Before you discard an item please note! Not everything requires a barcode tag; however, everything is an asset and is considered state property, even if it is not in *DEFINE or if it has a zero depreciated value.Items should never be trashed! Send all obsolete items to SurplusFor equipment designated as federal or private, contact the Federal Inventory team atRemember everything counts!Not everything requires a barcode tag; however , everything is an asset and is considered state property, even if it is not in define or it has a zero depreciated value. For example a monitor valued at $ which is under 5k but never added to define and is now obsolete to the department. The appropriate method of disposal would be to send the monitor to surplus. This monitor can be added to notes section of a ccart electronic transfer document or contact surplus directly.Items should never be trashedMake sure that others in your department notify you when they wish to dispose of any item not going to surplus whether it is in inventory or not. If you need to dispose of a federally owned item contact the federal team.
58 Is it a Transfer or Removal? Will ownership of the property remain with the university?YesUse a CCART.This includes “donations” to other departments within UTTransfers to Surplus.NoSubmit an inventory removal request to Inventory Services.Do this before the item leaves the university.
59 CCART transfer to Surplus Property - Unit (4500-999) When property exceeds its life expectancy and/or is no longer needed, send to Surplus.CCART creates an NT1 Electronic Transfer doc.Be sure to remove insurance. For questions, please contact Risk Management at orErase all sensitive data from hard drives.Keep a list of outstanding NT1 document IDs until the transfer has been processed. Checking the routing.Using CCARTComplete the tutorial available atTake DE 431: Working with CCART.Call us if you have questions.
60 When should an IRR (inventory request for removal) form be used? IRR Removals do not include:transfers to surplus.transfers to other departments.“missing” items.IRR Removals do include:cannibalizationPI transferstolendonationstrade-insaleotherExplain “missing” as it pertains to inventory and Define and the state.
61 Type of Removal: Cannibalization Are parts left over?YESRemove the parts neededSend the excess to Surplus via CCARTNODismantle the equipmentSubmit barcode tag with the IRR formSurplus requires that the IRR paperwork already be processed and the item removed from inventory before they will take the spare parts.
62 Type of Removal: PI Transfer Definition: Principle Investigator (PI) leaves the universityand takes research equipment with him/her.Usually involves 26-accounts.60 Days before the PI leaves, submit the IRR and letter of justification.A PI is never allowed to take equipment without prior approval from the property manager.Type of Removal: Transfers to Non-State of TEXAS Agencysubmit the IRR and letter of justification for equipment going to out of state.Transfers to other State of Texas Agencies entities will require an Outgoing Transfer form or the Incoming Transfer form
63 Type of Removal: Stolen File police report immediately.Send completed IRR form to Inventory as soon as the police report has been obtained and should not exceed 48 hours after the incidentPrepare letter of justification. Within the letter of justification, must note if the item stolen was or was not due to employee negligence. Also, if the item stolen is a computer or laptop, please answer these 2 questions in the letter of justification: 1. Did the computer contain any Category I data? 2. Was the computer encrypted?In addition, if item stolen is a computer or laptop, it must be reported on theInformation Security Office (ISO) Stolen Equipment Report form located here: https://security.utexas.edu/violation/iso_theft_form/Please included in justification letter the two question if the computer was stolen and any other pertinent information. There is instructions included with the IRR form online. Please follow the instructions provided to avoid having an IRR delayed because of not having all the items necessary to process.
64 Type of Removal: Donation-outside of Surplus Must be made to a qualifying agencies:In-state require certificate of eligibility from the Texas Facilities Commission.Out-of-state:Similar documentation must be provided.Only nontechnology items are allowed.Technology EquipmentState law mandates priority be made to.school districtsTexas correctional institutionsHard drives must be cleaned.Verification of hard drive clean must accompany theIRR form.
65 Type of Removal: Sale Should go through Surplus Unless there are extenuating circumstances.Departments can request that proceeds from the sale be deposited into their account.Sales outside of SurplusSubmit an IRR and letter of justification.Approvals must be granted before the sale is conducted.Include an agreement of sale, if available. Copy of receipt of funds, such as copy of check, and document ID# of deposit into departmental account in *DEFINE.65
66 Type of Removal: Other Returned to vendor Damaged items or items returned to vendor for some other reason.Trade-insReturned to the agency sponsoring a projectgrantsmilitarycontractsAnything that doesn’t fit previously coveredSubmit as much documentation as possible
67 What is new about equipment traded-in? All equipment being traded-in will now require anIRR Request for removal form even if the trade–in wasannotated on the Purchase Order of new item.Include the following for the item being traded in:inventory numberserial numbertrade-in value orsummaryInclude copy of the P.O. of the new item.Note:-the trade in value will be added as anelement to the new item in *DEFINEFederal property can NOT be traded without prior approval from the Property Manager and the Federal Inventory Coordinator.
68 How will I see the trade-in value? Inv #: Elem#: 17____ OrigFY: 2010 LatestFY: 2011 Screen: 1 of 6 Active SW: X Amount: 35, Description: MASS SPECTROMETER_______________________________ Owner Code: U Purchase code: U Unit Code: OFFICE OF ACCOUNTING Class Code: 538 Object Code: 1830 Acquisition Code/Date: 03 02/28/11 Source: TIN Useful Life: 120 Accum Depr: 2, Depr Expense: 2, Depr Value: 32, Loc Comp: 0 Site UTM_ Bldg 0740 Flr 04____ Rm 4.102_____ Loc Notes: ___________________________________________________ Missing or Stolen Code/Date: _ Found: _ Inventory comments: More Inventory Comments: + TRADE IN AMOUNT_____________________________________________
69 Step One: Removal must be Approved Before disposing of university property, approval must be granted by the property manager via Inventory Services.Gather the information to Submit the IRR form that begins the Approval processSubmit the inventory removal form and all necessary documentation to Inventory Services. The form is available at
70 Step 2: Submit Inventory Removal Request Form 1. Department name and unit code: 2. Equipment to be removed: Inventory # Description Purch. Date Cost Depr. Value 3. Reason why removal is requested: (see instructions on page 2 for further details) [ ] Stolen [ ] Cannibalization [ ] Donation [ ] Sale/Sealed Bid/Auction [ ] P.I. Transfer [ ] Trade-In [ ] Other: Please explain 4. Department Signatures: Approval Signatures: ______________________________ _______________________ Department Administrator/Head Inventory Supervisor Department Inventory Contact Property Manager * Please attach any supporting documentation and a letter of justification. When completed send this form and the supporting materials to Inventory, Office of Accounting, at campus mail code K5300.
71 Step Three: Removal from *DEFINE Inventory Services will remove items from *DEFINE after:documentation has been submitted.sales receipts have been received.the property manager has approved.Note: Submit receipts to have the item removed from your inventory list within 30 days.
72 Inventory Services University of Texas at Austin Main 132 K5300 Phone:Fax:Assistance hours: 10 a.m.-noon & 2-4 p.m.
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