To: Chief Fiscal Officers and GAAP Liaisons
From: Martin J. Benison, Comptroller
Date: January 10, 2012
Subject: Mid-year FY 2012 Capital (Fixed) Asset Inventory Review
Comptroller Memo FY#2012-16
This memo serves as the notice that 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.
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 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 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|
|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|
Review of the GAAP Capital Assets can be completed by utilizing Capital Asset Inventory Report NGA155SG found on DocDirect: https://docdirect.itd.state.ma.us/ddrint/login.html. This report reflects departmental GAAP Capital Asset Inventory as of 12/31/2011.
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:
- 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.
- Asset Deletions: Does the current NGA155SG reflect disposals made prior to 12/31/2011? If not, please provide detail. (Note: disposals are reflected on report NGA156SS.)
- Asset Transfer: Was a capital asset transferred from your department to another department during the fiscal year reflected on the NGA155SG?
- Asset Not in Service: Are there any assets listed on the current NGA155SG that are no longer in service? If so, please provide details.
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 01/27/2012 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 B.J. Trivedi, Director of the Financial Reporting Bureau at 617-973-2663, or Patricia McKenna at 617-973-2425.
cc: Payroll Directors