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:June 29, 2011
Re:Annual 2011 Capital (Fixed) Asset Inventory Review

Executive Summary

The memo serves as the notice that annual inventory of GAAP Capital 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 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 doc format of    po_fa_acquisition.doc  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 include:

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
NGA155SSStatewide Current GAAP (Non-Memo) and Non-GAAP (Memo) Assets Summary
NGA156SAStatewide Disposed GAAP (Non-memo) and Non-GAAP (Memo) Assets Summary
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 the Capital Asset Inventory Report NGA155SG found on DocDirect: https://docdirect.itd.state.ma.us/ddrint/login.html. This report will be available on July 1 st and will reflect departmental GAAP Capital Asset Inventory as of 6/30/11.

To assist departments in reconciling their capital asset DocDirect reports, the Information Warehouse contains the following table: 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 NGA155 and NGA156. The Information Warehouse standard security applies to this view. NOTE: This view contains all history pertaining to capital assets, including disposed assets. Departments are reminded to filter out any previously disposed assets from queries.

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 detail.
  2. Asset Deletions: Does the current NGA155SG reflect disposals made prior to 6/30/11? 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 NGA155SG?
  4. Asset not in service: Are there any assets listed on the current NGA155SG 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 07/22/2011 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 complete the confirmation form are included.

Note: The confirmation form must be uploaded 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: see FY2010-10: PartnerNet.

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

Enc:Instructions doc format of    2011_pnet_ instr.doc
  
cc:Payroll Directors
 General Counsels
 Internal Distribution