Property Inventory 101

1
Property Inventory 101
2
Plant Assets

• Land
• Buildings
• Improvements Other Than Buildings (IOB)
• Roads, parking, sidewalks
• Usually called Infrastructure
• Equipment
• Both Movable and Fixed

3
Get IBIS Access to

• Property Inventory System (Equipment)
• M2PI menu for equipment
• ITAG function to see individual tag numbers
• M3PB menu for equipment
• 13 Browse Screens
• Facilities System (Buildings IOB)
• M3BL menu for buildings and IOB
• IFBD function to see individual building number
• IFAR function to see individual
  addition/renovation to a building number
• BFBD browse by building code
• BFBL browse by building number

4
What is equipment?

• Single item that
• Has a value of 5000 or more and
• useful life of two (2) or more years.

5
Equipment Descriptions

• Basic tag number is 8 numerical bytes and 1 alpha
  byte.
• example 00123456 Computer
• 00123456A Cost On
• The alpha byte is not a real tag, it is part of
  the main equipment item. If it states

6
Descriptions

• Cost On multiple funds purchased item or it was
  paid over multiple fiscal years
• Trade In a tagged item was traded in and there
  was net value left on the traded in item.
• Upgrade the main item was upgraded
• Accessory items that add value, usually
  purchased to aid in the usage of the item

7
Disposing of EquipmentDISP on IBIS, or Form
GF6.2

• Verify Ownership You can only dispose of
  equipment that is University Owned
• Verify that the equipment is in your
  Administrative Area
• Send forms to Property Inventory after required
  signatures we send them to Salvage
• List the tag or serial number
• Send forms for stolen items

8
Object Classification Codes (OCC) which you need
to know

• 452 Software (Non-Capital)
• Less than 100,000
• License Fees (usually multiple users)
• 716 Software (Capital)
• More than 100,000
• Example Oracle (Basic charge usually doesnt
  include user charges)
  

9
Computer OCC

• 480 Computer Accessory Equipment
• Non-Capital
• Costs Less than 5,000
• 751 Computer Accessory Equipment
• Capital
• Costs 5,000 or more

10
Computer consists of

• CPU
• Monitor
• Keyboard
• Mouse
• Cabling
• Internal items such as memory, boards, etc.
• Initial operating software

11
Items not considered a computer

• Printer
• External disk drive
• Scanner
• External storage drive
• Video Camera
• Optional software

12
Non-Capital Equipment OCC

• 459 Items more than 1,000 but less than 5,000
• This code is non-computer equipment examples
• Adding machines
• Automatic staplers
• Office Furniture

13
Fabrications OCC 705

• Guidelines are available in your packet.
• You must ask permission in writing to the
  Supervisor of Property Inventory to use this
  classification code prior to using the code.
• Upon completion of the item being built you must
  email the Supervisor of Property Inventory to get
  this item tagged and entered into the Property
  Inventory System.

14
OCC 711

• Non-PSU title Penn State does not own this
  equipment
• Do not confuse with Government, Sponsor or
  Leased/Loaned Equipment
• Call prior to using the Supervisor of Property
  Inventory needs a detailed reason for allowing
  the use of 711 in an email or memo
• We also use this for equipment items that may be
• Sent into space and not returning
• Heading to the bowels of a volcano
• Sensors at the bottom of the sea

15
Note Pad Area

• Please utilize the note pad areas on documents to
  tell Property Inventory
• Tag number of item being traded-in
• Tag number of item being upgraded
• Pertinent information to help us find the item
• Special circumstancessuch as Sponsor requires
  all equipment items over 2500 to be tagged.

16
Government Or Sponsor Owned Equipment

• Government Acquired - Purchased by Penn State
• We will tag at whatever the contract states
  usually 5000 and above under 5000 is normally
  University Owned
• Government Furnished (GFE) Provided by the
  Government
• We tag it all

17
Government Owned Equipment

• Prior written approval from the Governments
  Administrative Contracting Officer and/or Sponsor
  is required to
• Transfer or Loaned Out
• Upgrade or Disassemble
• Disposed of or Destroyed
• Traded-in or Sold

18
Government Owned Equipment (continued)

• As a standard practice the respective
  administrative areas
• Financial Officer and
• Research Administration Office should
• first review any action involving Government
  Owned Equipment
• Then contact Property Inventory for instructions
  on how to proceed

19
Government Owned Equipment (continued)

• Contact Property Inventory immediately if you
  discover that a Government Owned equipment item
  is
• Hand carried to Penn State and not tagged with
  Penn State tag
• Missing
• Not being utilized

20
New Professors/Researchers

• Did they bring any equipment with them?
• Whose equipment is it?
• Property Inventory needs to know
• Is it Government Owned?
• Is the proper paperwork completed and where is
  the paperwork?
• Its value, condition, model and serial numbers,
  contract numbers, etc.

21
Professors/Researchers Leaving

• See BS 15 in GURU for specific details on how to
  proceed
• They must complete the requirements for taking
  the equipment with them?

22
Procedures to review

• CR2019 Accounting for Capital Equipment
• CR2055 Pre-acquisition Screening Shared Use
  of Federally Funded Capital Equipment
• CR2068 Property Inventory Depreciation Usage
  Fee Guidelines
• BS2011 Salvage Surplus Operations Including
  Sales Store
• Property Section in GURU
• Appendix 9 (Object Classification Codes)