To: Chief Fiscal Officers and GAAP Liaisons
From: Thomas G. Shack III, Comptroller
Date: June 22, 2015
Subject: Annual FY2015 Capital (Fixed) Asset Inventory Review
Comptroller Memo FY#2015-28
The memo serves as notice that the annual inventory of GAAP capital assets is underway. Several MMARS reports can be accessed through DocDirect to assist with this effort. Every department must return a form confirming the review is complete.
We have established the inventory controls and reporting guidelines for capital assets and instituted a mid-year and an annual capital asset inventory review. Capital assets are defined as GAAP and non-GAAP capital assets – please see Comptroller’s Fixed Asset Acquisition Policy for detail. Although the primary focus of this review is GAAP capital assets departments should also review any non-GAAP assets under their ownership.
Monthly Capital Asset Inventory reports are available on DocDirect and are defined as:
|NGA155SD||Departmental Current GAAP (Non-Memo) and Non-GAAP (Memo) Assets Summary|
|NGA155SG||Current Active GAAP (Non-Memo) Capital Asset Inventory by Department, Unit, and Asset Type Key report for completion of your inventory review|
|NGA155SN||Current Active Non-GAAP (Memo) Asset Inventory by Department, Unit, and Asset Type|
|NGA156SD||Disposed GAAP and Non-GAAP Capital Asset Inventory by Department, Unit, and Asset Type|
|NGA156SS||Departmental Disposed GAAP (Non-Memo) and Non-GAAP (Memo) Asset Summary|
Review of the GAAP capital assets can be completed by utilizing capital asset inventory report NGA155SG found on DocDirect: https://docdirect-prod2.itd.state.ma.us/ddrint/login.html. This report reflects departmental GAAP capital asset inventory as of 06/30/2015.
To assist departments in reconciling their capital assets DocDirect report, the Information Warehouse contains the following view: dbo_m_fa_fixed_assets_history. This view is updated monthly in accordance with the MMARS source table and will mirror DocDirect capital assets reports NGA 155* and NGA 156*. The Information Warehouse standard security applies to this view.
Please review and reconcile the report with your inventory for any capital asset additions, disposals or transfers your department has processed and answer the following review questions:
- Asset Additions: Does the current NGA155SG represent all GAAP capital assets acquired or constructed by your department year to date? If not, please provide details.
- Asset Deletions: Does the current NGA155SG reflect disposals made prior to 06/30/2015? If not, please provide detail.
- Asset Transfer: Was a capital asset transferred from your department to another department during the fiscal year reflected on the NGA155SG?
- Asset Not in Service: Are there any assets listed on the current NGA155SG that are no longer in service? If so, please provide details.
By the middle of July, the annual capital spending reviews will be sent to departments that have spent capital funds during FY2015. The spending review complements this capital asset inventory review. The purpose of the spending review is to help departments assure capital spending that relates to capital assets has been properly captured in the MMARS capital asset system. All FY2015 capital asset transactions must be entered by the end of Period 13 (August 31, 2015).
Please complete the confirmation form located in the General Outbound (Common Access) section of PartnerNet https://ctrpartnernet.ctr.state.ma.us/PartnerNet/Public/Login.aspx. Include any variances identified in the review and return it no later than 07/31/2015 by uploading it to the Comptroller’s General Inbound Box on PartnerNet. Instructions for using PartnerNet to upload and complete the confirmation form are included. Note: The confirmation form should be uploaded to PartnerNet even if your department currently has no inventory.
All CFOs and GAAP Liaisons have access to upload the confirmation form to PartnerNet. CFOs can designate other department personnel to upload the Inventory Confirmation Form on PartnerNet. Department Security Officers can request access for additional users by submitting a PartnerNet Security Request Form. Individuals needing access to PartnerNet to upload the form will be processed as soon as possible.
For further assistance, please contact B.J. Trivedi, Director of the Financial Reporting Bureau at (617) 973-2663, Michael Rodino at (617) 973-2304 or Christine Bender at (617) 973-2425.
cc: Payroll Directors