Capital Asset Management

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Capital Asset Management

• May 21, 2007
• Todays Presenters
• Shelley Pierce, Senior Accountant
• San Joaquin Delta College
• Theresa Cain, CAMS Data Manager
• Capital Asset Management System
• Indiana University

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Presentation Outline

• Introduction
• CAMS SME Members
• Kuali Roles Responsibilities
• CAMS System Overview
• CAMS System Functions
• Key Accomplishments
• Future Plans

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CAMS SME Members

• San Joaquin Delta College, Lead SME, Shelley
  Pierce
• Indiana University, SME, Anna Jensen
• Indiana University, Business Analyst, Theresa
  Cain
• University of Arizona - Alan Blumberg,
• Cornell University Nancy Abbott
• University of Hawaii Gilbert Kuroda
• Michigan State Boyd Shumaker
• University of California, Davis Delanda
  Buchanan
• University of California, Irvine Helen Wessel
• University of California, Santa Barbara Vaughn
  Boyle

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Kuali Roles Responsibilities

• Training and Development of SME members
• Develop and review functional specifications
• GASB/GAAP Compliance
• User Testing
• Implement Asset Management System based on the
  current system at Indiana University. Develop
  flexible system to manage data for all
  institutions regardless of size, scope
• Identify, develop, understand and communicate
  functionality of current system
• Communicate with group members, development team
  and Functional Council

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CAMS System Overview

• Tracks and maintain capital and non-capital
  assets
• Supports depreciation, tagging and inventory
  tracking
• Provides Non-Moveable Asset Tracking
• Facilitates management of internal
  projects/processes fabrications, location
  maintenance, asset security, component assets,
  retirements, asset transfers and equipment loan
  returns
• Maintenance Security
• Maintains query based reporting tools
• Standard reconciliation reports are available
• Flexibility is built-in to the system (user
  access, searchable data elements, field length,
  notes, etc.)
• Data Flow-Procurement-Financial-Moveable-CAB-CAMS.
  System provides financial transaction feed from
  GL to CAB.

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CAMS System Functions

• Automation of journal entries
• Ability to calculate depreciation
• Standard reporting and reconciliation tools
• Multiple user access
• Ability to handle specialized government
  reporting requirements
• Provide information for FA calculations
• Inventory tracking and reporting
• GASB, State and Institutional policy reporting
  and compliance
• Fixed Asset system accounting system integration
• Allocate building costs
• Data Integrity
• Web Access by Department
• Note Based on analysis of processes of
  participating institutions

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Key Accomplishments to Date

• Completed review/training on IU CAMS/CAB system.
• Developed detailed documentation related to
  current business rules, workflow and routing
  actions, permissions, and database objects
• Identified gaps between CAMS and institution
  requirements
• Ranked IU enhancements
• Developed wish list of enhancements for future
  consideration

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Future Plans/Looking Ahead

• Hands-on Training using sample data
• Develop final versions of specification documents
• CAB (Capital Asset Builder) research and
  development
• User Testing
• Training and Development remaining modules of
  CAMS

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Capital Asset Management at Indiana University

• Structure for Capital Asset Management
• University Capital Asset Office
• Campus Capital Asset Offices
• Departments

• Indiana University Terms
• Fiscal Officers
• Routing

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Asset Activity at Indiana University

• For Year Ending June 30, 2006 Capital Assets
• Total net capital assets 1,839,661(in thousands
  of dollars)
• Count of moveable additions 1,399
• Capital Asset Management Staff
• Plant Fund Accountant
• Asset Creator
• Inventory/Tagging Manager
• Data Manager

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CAMS System History

• The Capital Asset Builder was implemented in
  March of 1993
• The Capital Asset Management system was deployed
  in October 1994

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Major Components of CAMS

• Capital Asset Builder
• Pre-Asset Tagging
• Non-Moveable Additions
• Documents and Maintenance Screens
• Inventory Process
• Depreciation
• Reconciliation Reports

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IU Asset Categories

• Capital Moveable
• Equipment
• Fabrications
• Lease Purchases
• Capital Non-moveable
• Art and Museum
• Bonds
• Buildings Building Improvements
• Infrastructure
• Land
• Leasehold Improvements
• Library books
• Non Capital

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How the assets are created at IU

• Capital Asset Builder (CAB)
• Equipment
• Fabrications assets are created by the
  fabrication document. Invoices modify the
  existing asset.
• Capital Lease assets are created on a Financial
  Document
• Art and Museum
• Add Asset Document Add Payment Document
• Bonds
• Buildings Building Improvements
• Infrastructure
• Land
• Leasehold Improvements
• Library books
• Add Asset Document
• Non-capital assets are created by departments
• Capital Equipment Gifts

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Additions Processed in CAB

• Moveable additions are Processed in the Capital
  Asset Builder.
• Process
• Requisition issued in the Electronic Processing
  and Invoicing Center (EPIC). Capital object code
  is assigned.
• Purchase Order is approved
• Payment Request is issued and approved
• Payment hits the General Ledger
• Batch process loads data into CAB

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Payment Request (PREQ)
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EPIC CAMS Document
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Capital Asset Builder (CAB)
Additions are Created by the University Capital
Asset Office

• Invoice Line Items
• Moveable Equipment purchased on PO
• Art and Museum Items
• Fabrications

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Invoice Line Item Screen
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Additional Charges AllocatedNext insert line 2
from pending
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Inserted from PendingNext add line 8 to line 1
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line 8 has been added to line 1Next Create Asset
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Create View Asset Screen
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New Version Invoice Line Item
Processing Trade-ins

• Trade-ins are allocated in CAB by pressing the
  allocate button.
• The allocate routine will first allocate any
  additional charges (freight) then allocate the
  trade-in allowance.

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Allocate Trade-in

• Once the Freight and Shipping and Handling are
  allocated a dialog box will be presented with the
  following message

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EPIC CAMS Document
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(No Transcript)
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Capital Asset Builder (CAB)

• GL Transactions
• Capital Leases
• Account Changes
• Object Code Corrections
• Refunds (cash receipt)
• Procurement Card Purchases

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General Ledger Transactions
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General Error Correction
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Modify an Asset
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Enter Pending Asset Information
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Create View Asset Screen
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Document Group Selection
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Accuracy of Data

• Valid Values
• Asset Type Code
• Condition
• Inventory status
• System Edits
• Active Account
• Business Rules
• Non-capital asset inventory status N.
• Reconciliation Reports

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Add Asset Document
Non-moveable Additions Gifts, Found, and
Transfers-in Non-capital Assets
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Asset Retirement
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Asset Transfer
Capital and Non-capital assets can be transferred
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Equipment Loan/Return
Capital and Non-capital assets can be loaned on
the Equipment Loan Return Document
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Fabrication
Moveable Equipment Construction In
Progress Control assets
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CAMS Maintenance
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Maintenance Screens Security

• Maintenance Screens do have restrictions
• University Capital Asset Office
• Campus Capital Asset Offices
• Organizations

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Capital Asset Maintenance
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Capital Asset Lookup
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Location Maintenance
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Pre-asset Tagging
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Pre-asset Tagging (tagging) screen
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Physical Inventory

• Intermec Antares Trakkers scan equipment.
• Filecopy utility is used to extract file and copy
  to PC.
• File Uploaded to FIS
• Bar-code Error Document
• Inventory Reconciliation Report

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Depreciation

• Depreciation expense is calculated from a stored
  procedure that updates the asset database on a
  monthly basis. The Straight Line method is the
  basis for the calculation, along with a method
  for Salvage Value. Federally owned payments are
  excluded from the depreciation calculation. In
  addition, no Deprecation will be taken on Art and
  Museum Objects, Land, or Leasehold Equities.
  Each asset is depreciated from the asset create
  date, and the assets useful life assigned to the
  asset type code. Non-Movable assets use a ½ year
  convention for assigning the create date. The
  Deprecation entries Debit Object Code 51XX,
  Depreciation Expense, and Credit the appropriate
  Accumulated Depreciation Object Code based on the
  Object Code Sub Types in the Asset Object Code
  Table.

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Asset Object Code Table
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Reconciliation

• Additions
• Retirements
• Transfers
• Depreciation Expense
• Ending Balances

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Pre-Defined Queries

• Capital Asset Management has made available the
  following reporting categories to assist
  organizations in asset management.
• Inventory Control Reports Nbr of rpt 9
• Depreciation Reports Nbr of rpt 4
• Edit Reports Nbr of rpt 10
• Summary Reports Nbr of rpt 4
• Internal Reports Nbr of rpt 15
• Screening Reports Nbr of rpt 1
• Capital Lease Reports Nbr of rpt 2

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http//www.fms.indiana.edu/cams/