Comptroller Fiscal Year Memo Letter Head


M E M O R A N D U M

To:

Chief Fiscal Officers and GAAP Liaisons

From:Martin J. Benison, Comptroller
Date:

February 17, 2010

Re:

Mid-year FY 2010 Capital (Fixed) Asset Inventory Review

Comptroller Memo FY#2010-20

Executive Summary

The memo serves as the notice that mid-year inventory of Capital (Fixed) Assets is underway. Several new reports requested by users have been put into production to assist with this effort. Every department must return a form confirming the review is complete








During FY2009 the Commonwealth established the inventory controls and reporting guidelines for its Capital (Fixed) Assets and instituted a mid-year and an annual Capital Asset Inventory Review. Capital Assets are defined as GAAP and Non-GAAP fixed assets - please see Comptroller's Fixed Asset Acquisition policy for detail.

http://www.mass.gov/Aosc/docs/policies_procedures/fixed_assets/po_fa_acquisition.doc doc format of po_fa_acquisition.doc

New Capital Asset Inventory reports have been developed and put into production. They are available on DocDirect and are defined as:



NGA155SD

Departmental Current GAAP (Non-Memo) and Non-GAAP (Memo) Assets Summary - Key report for completion of your inventory review

NGA155SG

Current Active GAAP (Non-Memo) Capital Asset Inventory by Department, Unit, and Asset Type

NGA155SN

Current Active Non-GAAP (Memo) Asset Inventory by Department, Unit, and Asset Type

NGA155SS

Statewide Current GAAP (Non-Memo) and Non-GAAP (Memo) Assets Summary

NGA156SA

Statewide Disposed GAAP (Non-memo) and Non-GAAP (Memo) Assets Summary

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

To complete the Capital Asset Inventory Review, please utilize Capital Asset Inventory Report NGA155SD found on DocDirect: https://docdirect.itd.state.ma.us / . This report reflects departmental Capital Asset Inventory as of 1/31/2010.

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 NGA155SD represent all the capital assets acquired or constructed by your department year to date? If not, please provide detail
  2. Asset Deletions: Does the current NGA155SD reflect disposals made prior to 1/31/2010? If not, please provide detail. (Note: disposals are reflected on report NGA156SS.)
  3. Asset Transfer: Was a capital asset transferred from your department to another department during the fiscal year reflected on the NGA155SD?
  4. Asset not in service: Are there any assets listed on the current NGA155SD that are no longer in service? If so, please provide detail.

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 March 10, 2010 by uploading it to the Comptroller's General Inbound Box on PartnerNet. https://ctrpartnernet.ctr.state.ma.us/PartnerNet/Public/Login.aspx. Instructions for using PartnerNet to upload and completing the confirmation form included.

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: see FY2010-10:PartnerNet (issued 11/12/2009). Individuals needing access to PartnerNet to upload the form will be processed as soon as possible. Note: The confirmation form should be uploaded even if your department currently has no inventory.

For further assistance, please contact B.J. Trivedi, Director of the Financial Reporting Bureau at 617-973-2663, Larissa Serebryanaya, Manager Financial Reporting Bureau 617-973-2304, or Patricia McKenna at 617-973-2425.

Enc.: Instructions 



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