DPA
MEETING NOTES
July 2007
TOPICS
SEPTEMBER 2007 MEETING
NOTES
EQUIPMENT LOANS
DISPOSED EQUIPMENT
DISPOSALS NEED PRIOR AUTHORIZATION
2007 YEAREND AUDIT
INVENTORY * RESPONSIBLE PERSON UPDATE
PROPERTY OFFICE SCHEDULES
SEPTEMBER 2007 MEETING – The next meeting is currently scheduled for Thursday, the 27th, 9:30-10:30 A.M., at the ML Damon Room. Chris has sent MM proposals for the 2007 DPA Meetings through October and the schedule is posted on the Property webpage. Please keep in mind, occasionally a location may change due to outside requests. If this occurs the meeting and webpage will be updated.
Note: The new time length for DPA meetings has been changed from 1 ½ hours to 1 hour. Hopefully this will accommodate your busy schedules, allowing for time to attend.
NOTES – As a reminder, the monthly meeting notes may be found at http://www.fin.ucar.edu/property/mtgnts.html Please take a look at them periodically. They are a good resource for new and current DPA’s to go back and look at recent (or past) property topics.
EQUIPMENT LOANS – The definition of an employee is someone who is currently active in our payroll system. Employees who leave UCAR for sabbaticals or employment at another organization should not be loaned equipment.
If an employee is no longer active and the division wishes to continue a professional relationship with that employee, the equipment loan will be made to the University or Not-for-Profit organization where the former employee is going, not the individual.
Please review your current employee equipment loan forms and verify these loans are assigned to active employees. If you find any that aren’t please call Dee and we will work on assigning the loan to the organization where the former employee now works.
DISPOSED EQUIPMENT – During the recent inventories we noticed there were several disposed fixed assets that had not been sent to salvage. These items were not being utilized, but nevertheless should have been disposed. Remember, once you have requested a disposal, it is expected that the equipment will be sent to recycle via Logistics Operations.
DISPOSALS NEED PRIOR AUTHORIZATION – With year end there is usually an increase in purchasing volume. That often means an increase in disposals of old assets as well. Remember that the DPA must notify the Property Office of all intended disposal actions, including dismantle. It may be helpful to send periodic reminder e-mails to your division staff reminding them of this procedure….for obvious reasons.
The Property Office will issue proper notification or obtain authorization as quickly as possible so that the action can proceed. It is very important that assets have disposal records created in the same fiscal year in which they are disposed. Otherwise, we risk errors on UCAR financial statements and annual reports to Sponsors. Please refer to the property manual for instruction.
http://www.fin.ucar.edu/property/propmanual/propmanual_sec3-4.html
YEAREND AUDIT – KPMG (external) auditors will be on-site August 13th-August 31st this year. The Property Office will spend the first two weeks of August preparing reports for that first audit phase. Therefore, please be sure your FADB records are current, particularly FASITE information. Dee will process disposals on Tuesday, July 31 in preparation for the audit reports. Once you receive the disposal e-mail, please check to be sure any assets for which you expected disposal entries show DI in the Status field. If not, contact her immediately and she will work out why that has not occurred. It is important that our records be as up-to-date as possible. KPMG will be using the reports based on FADB accuracy to make their audit selections so this is very important.
Also, as always, when the Property Office calls with inquiries, we may request quick turnaround.
INVENTORY * RESPONSIBLE PERSON UPDATES – Chris will discuss the current inventory schedule and Responsible Person Updates.
PROPERTY OFFICE SCHEDULES –
- Chris – Attending USA Federal Excess Personal Property (USAFEPP) Conference July 30-August 3
- Chris - Vacation August 6-10
Contact
the Property Office at any time with questions or for assistance.
We're here to help you manage your division's property.
Dee Huddle, ext 8858, huddle@ucar.edu;
Chris Knoetgen, ext 8573, knoetgen@ucar.edu
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