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:July 6, 2010
Re:Annual FY2010 Capital (Fixed) Asset Inventory ReviewComptroller Memo
FY#2010-30

Executive Summary

The memo serves as the notice that the annual inventory review 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 capital assets - please see Comptroller's Capital (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

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 Key report for completion of your inventory review

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 Reports NGA155SG and NGA155SN found on DocDirect: https://docdirect.itd.state.ma.us/. This report reflects departmental Capital Asset Inventory as of 6/30/2010.

To facilitate capital assets inventory and reporting, the following new view has been added to the Information Warehouse: dbo_m_fa_fixed_assets_history. This new view will be updated monthly in accordance with the MMARS source table and will mirror DocDirect Capital Assets reports NGA 155* and NGA 156*. The new view is intended to assist users in auditing the capital asset DocDirect reports. 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/N represent all the capital assets acquired or constructed by your department year to date? If not, please provide details.
  2. Asset Deletions: Does the current NGA155SG/N reflect disposals made prior to 6/30/2010? If not, please provide details. (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 NGA155SG/N?
  4. Asset not in service: Are there any assets listed on the current NGA155SG/N that are no longer in service? If so, please provide details.

Please complete the confirmation form (CTR_CapitalAssetsInventoryFY10Confirmation[1].xls) 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 July 23, 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 the confirmation form are attached.

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 doc format of pn_req_frm.doc
. 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 pdf format of cap_assets_inv_fy10_instr.pdf
CC:MMARS Liaisons
Payroll Directors
General Counsels
Internal Distribution