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2 http://www.virginia.edu/finance/finanalysis/prop.html

3 Gary Young – Director Malika Ouenza – Manager Plant Accounting Angy Seago - Manager ETF & Equipment John Wallace-Smith – Sr. Equipment Specialist Michael Williams - Inventory Specialist

4 Home Burger King Ruby Tues

5 Am I a FIXED ASSET ?

6 Example of a Fixed Asset Software Buildings Vehicles Library Books Equipment Infrastructure Fabricated Equipment

7 Definition of a Fixed Asset  Buildings, Land, Improvements, Leasehold Imp. or Infrastructure with UVA minimum threshold cost $250,000 and useful life greater than 1 year  Equipment and Vehicles with UVA minimum of $5,000 unit cost and useful life greater than 1 year  Major software applications with UVA threshold cost of $100,000 and useful life greater than 1 year  Library Books (exception – total aggregate of all library books significant and life greater than 1 year)  ETF Equipment (exception – Virginia’s SCHEV has lower threshold cost of $500)

8 UVA $ 2.2 Billion (Land, Bldgs-500+, Equipment-24,000+, Library Books, Software) Wise $ 95.0 Million Southwest $ 1.0 Million

9 ASSETS UVA FLORIDA NC (Chapel) STANFORDHARVARD Current 783 147 913 751 643 Fixed –Net Assets 1,643 1,300 1,874 2,546 4,087 Investments 2,981 607 1,605 17,525 39,086 Other 53 103 84 986 526 5,460 2,157 4,476 21,808 44,342 HOW DO WE COMPARE TO OTHERS ? (In $ Millions FY’06 Data) * Different capital thresholds and useful lives will affect values

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16 Breakdown of $2.2B  Buildings$ 1.1  Equipment.3  Infrastructure.2  Construction in Progress.2  Imp. Other than Bldg.1  Software.1  Library Books.1  Land.1

17 FAA Group Responsibilities  Accounting  Oracle Fixed Assets Module  Inventory Audit & Control  Financial Reporting  Sponsor Reporting  Policies & Procedures

18 IMPORTANT ISSUES  ETF Equipment  Coding Expenditures correctly  Cost transfers  Policy change – Releasing equipment to other universities  Policy change – Surplusing data sensitive equipment  Fabrications – equipment title must be UVA  Asset Impairments

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