Capital Assets - Annual Certification


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Capital Assets - Annual Certification

  1. 1. COUNTY OF RIVERSIDE OFFICE OF THE AUDITOR-CONTROLLER Capital Assets – Annual Certification April 20, 2006
  2. 2. Presentation Agenda <ul><ul><li>Introduction - Hank Johnson </li></ul></ul><ul><ul><li>Annual Capital Asset Certification </li></ul></ul><ul><ul><li>Certification Letter - Hank Johnson </li></ul></ul><ul><ul><li>Public Query - Don MacKinnon </li></ul></ul><ul><ul><li>PeopleSoft Asset Management - Don MacKinnon </li></ul></ul>
  3. 3. Annual Capital Asset Certification <ul><li>Review of the Certification Letter (Handout) </li></ul><ul><li>- Requirement of annual certification </li></ul><ul><li> (Government Code Section 24051) </li></ul><ul><li>- Critical dates </li></ul><ul><li>- Required forms and signatures </li></ul><ul><li>- Capital Asset Physical Inventory Query </li></ul><ul><ul><li> </li></ul></ul>
  4. 4. Annual Capital Asset Certification <ul><li>SPM Form </li></ul><ul><li>AM-1 - Inventory of County Property </li></ul><ul><li>AM-2 - Authorized Signature for Capital Assets Certification </li></ul><ul><li>AM-3 - Contact for Capital Assets </li></ul><ul><li>AM-4 - Capital Asset Listing Corrections </li></ul><ul><li>AM-5 - Capital Asset Form </li></ul><ul><li> (Acquisition, Betterment & Modifications) </li></ul><ul><li>AM-6 - Capital Asset Transfer </li></ul><ul><li>AM-7 - Capital Asset Disposition </li></ul><ul><li>SPM Forms are available at the ACO web site </li></ul><ul><li> </li></ul><ul><ul><li> </li></ul></ul>
  5. 5. Annual Capital Asset Certification <ul><li>Capital Asset Inventory Certification </li></ul><ul><ul><li>Submit capital assets documentation to ACO (acquisitions, adjustments, betterments, transfers, recategorizations, and retirements) to ACO by May 18 </li></ul></ul><ul><ul><li>Process asset acquisitions in PS AM </li></ul></ul><ul><ul><li>Department will run an asset inventory thru public query for certification </li></ul></ul><ul><ul><li>Submit capital asset inventory certification to ACO by July 10 per Government Code, Section 24051 </li></ul></ul><ul><ul><li>For due dates and more information, refer to the “ACO Year-end Calendar” </li></ul></ul>
  6. 6. Annual Capital Asset Certification <ul><ul><li>Using the standard Capital Asset Physical Inventory public query </li></ul></ul><ul><ul><li>- Path </li></ul></ul><ul><ul><li>- Query Contents </li></ul></ul>
  7. 7. Annual Capital Asset Certification <ul><ul><li>Capital Asset Physical Inventory Query </li></ul></ul>
  8. 8. Annual Capital Asset Certification <ul><ul><li>Capital Asset Physical Inventory Query </li></ul></ul>
  9. 9. Annual Capital Asset Certification <ul><ul><li>Capital Asset Physical Inventory Query </li></ul></ul>
  10. 10. Annual Capital Asset Certification <ul><ul><li>Capital Asset Physical Inventory Query </li></ul></ul>
  11. 11. PeopleSoft Asset Management (AM) <ul><li>Adding Assets </li></ul><ul><li>Depreciation Calculation </li></ul><ul><ul><li> </li></ul></ul>
  12. 12. PeopleSoft Asset Management (AM) <ul><li>Adding Assets </li></ul><ul><li>- Manual Method </li></ul><ul><li>- Interface Method </li></ul><ul><li>- Advantages vs Disadvantages </li></ul><ul><ul><li> </li></ul></ul>
  13. 13. PeopleSoft Asset Management (AM) <ul><li>Manual Method </li></ul><ul><ul><li>Capital Leases </li></ul></ul><ul><ul><li>Constructed Assets </li></ul></ul><ul><ul><li>Donated Assets </li></ul></ul><ul><li>Interface Method </li></ul><ul><ul><li>Purchased Assets </li></ul></ul><ul><ul><li>Non-Capital Assets </li></ul></ul>
  14. 14. PeopleSoft Asset Management <ul><li>Interface Method (Continued) </li></ul><ul><ul><li>Identify Capital Asset at Requisition, Purchase Order or AP Voucher </li></ul></ul><ul><ul><li>AP Voucher is the best business practice </li></ul></ul><ul><ul><li>Easy as 1-2-3 </li></ul></ul>
  15. 15. PeopleSoft Asset Management <ul><li>Interface Method (Continued) </li></ul><ul><ul><li>Step 1 </li></ul></ul><ul><ul><li>Mark Asset Check Box and select Profile ID on AP Voucher </li></ul></ul>
  16. 16. PeopleSoft Asset Management
  17. 17. PeopleSoft Asset Management
  18. 18. PeopleSoft Asset Management <ul><li>Interface Method (Continued) </li></ul><ul><ul><li>Step 2 </li></ul></ul><ul><ul><li>Mark Auto Approve Status Check Box </li></ul></ul>
  19. 19. PeopleSoft Asset Management
  20. 20. PeopleSoft Asset Management <ul><li>Interface Method (Continued) </li></ul><ul><ul><li>Step 3 </li></ul></ul><ul><ul><li>Change Useful Life and Save </li></ul></ul>
  21. 21. PeopleSoft Asset Management
  22. 22. PeopleSoft Asset Management <ul><li>Interface Method (Continued) </li></ul><ul><li>Easy as 1-2-3 </li></ul>
  23. 23. PeopleSoft Asset Management <ul><li>Interface Method (Continued) </li></ul><ul><ul><li>Advantages </li></ul></ul><ul><ul><li>Disadvantages </li></ul></ul>
  24. 24. PeopleSoft Asset Management <ul><li>Advantages </li></ul><ul><ul><li>Eliminates double entry </li></ul></ul><ul><ul><li>Minimizes keying errors </li></ul></ul><ul><ul><li>Use Print Screens in lieu of AM-5, Capital Asset Form </li></ul></ul><ul><ul><li>for new assets </li></ul></ul><ul><ul><li>Provides Audit Trail </li></ul></ul><ul><ul><li>Updates the General Ledger in a more timely fashion </li></ul></ul><ul><ul><li>Allows Capital Asset Payments to process in a timely </li></ul></ul><ul><ul><li>manner </li></ul></ul>
  25. 25. PeopleSoft Asset Management <ul><li>Disadvantages </li></ul><ul><ul><li>None </li></ul></ul>
  26. 26. PeopleSoft Asset Management (AM) <ul><li>Depreciation Calculation </li></ul><ul><li>- Calculated Monthly </li></ul><ul><li>- Journal Generated to GL </li></ul><ul><li>- Supplemental Ledgers </li></ul><ul><li>GOV_AC_GRP (Governmental Fund) </li></ul><ul><li>PROP_CP_AS (Proprietary Fund) </li></ul><ul><ul><li> </li></ul></ul>
  27. 27. Contact List for Capital Assets <ul><li>Henry Johnson (951) 955-3821 [email_address] </li></ul><ul><li>Beverly Markwardt (951) 955-3886 [email_address] </li></ul><ul><li>Don MacKinnon (951) 358-6319 [email_address] </li></ul><ul><ul><li> </li></ul></ul>