Comptroller letterhead

To:                   Chief Fiscal Officers and GAAP Liaisons

From:               Thomas Shack III, Comptroller

Date:               December 20, 2016

Subject:           FY 2017 Mid-year Capital Asset Inventory Review

Comptroller Memo FY#2017-12

Executive Summary

The memo serves as notice that the mid-year 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.

Our office has 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 details.  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:

NGA155SDDepartmental Current GAAP (Non-Memo) and Non-GAAP (Memo) Assets Summary
NGA155SGCurrent Active GAAP (Non-Memo) Capital Asset Inventory by Department, Unit, and Asset Type  Key report for completion of your inventory review
NGA155SNCurrent Active Non-GAAP (Memo) Asset Inventory by Department, Unit, and Asset Type
NGA156SDDisposed GAAP and Non-GAAP Capital Asset Inventory by Department, Unit, and Asset Type
NGA156SSDepartmental 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:  

This report reflects departmental GAAP capital asset inventory as of 12/31/2016, and will be available the first week in January.

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:

  1. 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.
  1. Asset Deletions:  Does the current NGA155SG reflect disposals made prior to 12/31/2016?  If not, please provide detail. 
  1. Asset Transfer:  Was a capital asset transferred from your department to another department during the fiscal year reflected on the NGA155SG?
  1. 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 beginning of February, the mid-year capital spending reviews will be sent to departments that have spent capital funds during FY2017.  The capital spending review complements this capital asset inventory review.  The purpose of the spending review is to help departments assure capital spending which relates to capital assets has been properly captured in the MMARS capital asset system.

Please complete the confirmation form located in the General Outbound (Common Access) section of PartnerNet Include any variances identified in the review and return it no later than January 31, 2017 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 Michael Rodino, Director of Financial Reporting at (617) 973-2304 or Christine Bender at (617) 973-2425.

Enc.:    Instructions            
            Form xls format of FY17 Mid-year Confirmation Form

cc:        Payroll Directors            
            General Counsels
            Internal Distribution