Chief Fiscal Officers and GAAP Liaisons
|From:||Martin J. Benison, Comptroller|
February 17, 2010
Mid-year FY 2010 Capital (Fixed) Asset Inventory Review
Comptroller Memo FY#2010-20
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.
New Capital Asset Inventory reports have been developed and put into production. They are available on DocDirect and are defined as:
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:
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.