Comptroller Fiscal Year Memo Letter Head

To:           Chief Fiscal Officers and GAAP Liaisons

From:       Martin J. Benison, Comptroller

Date:        June 26, 2012

Subject:    Annual FY 2012 Capital Asset Inventory Review

Comptroller Memo FY#2012-29


Executive Summary

This memo serves as the notice that annual 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.


The Commonwealth has established inventory controls and reporting guidelines for its capital assets and instituted a mid-year and annual capital asset inventory review.  Capital assets are defined as GAAP and Non-GAAP capital assets – please see Comptroller’s Capital Asset Policies 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:

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 Capital Asset Inventory Report NGA155SG found on DocDirect:  https://docdirect.itd.state.ma.us/ddrint/login.html This report will be available on July 2nd and will reflect departmental GAAP capital asset inventory as of 6/30/2012.

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 Series.  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 represent all GAAP capital assets acquired or constructed by your department year to date?  If not, please provide details.
  2. Asset Deletions:  Does the current NGA155SG reflect disposals made prior to 06/30/2012?  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 details.

Please complete the confirmation form located in the General Outbound (Common Access) section of PartnerNet.  Include any variances identified in the review and return it no later than 07/27/2012 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 GAAP capital asset inventory.

All CFOs and GAAP Liaisons have access to upload the confirmation form to PartnerNet.  CFOs can designate other department personnel to upload the 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.

 

Enc.:    Instructions doc format of 2012 PartnerNet Instructions

cc:        
Payroll Directors            
General Counsels            
Internal Distribution