September 2017 – Finance Newsletter

Recently an email from Gretchen Hartigan, the Assistant Vice President of Post Award Financial Operations, was sent to the Boston University Research Community with a reminder in regards to Property Management’s (PM) biennial asset inventory process.

This month’s newsletter will provide some guidance on how to assist Property Management with the biennial asset inventory process.

It is the responsibility of the department personnel to notify the Department Property Administrator (DPA) when moveable capital equipment is no longer required due to its poor condition or lack of use and needs to be disposed of.

As stated on the Research Support website, the DPA is the individual within your department/area responsible for managing moveable capital equipment.  The DPA should initiate the University’s disposal process using the Movable Capital Equipment Form.

For more information on Moveable Capital Equipment department admins and custodians click here:  http://www.bu.edu/researchsupport/tools-services/property-management/moveable-capital-equipment-department-admins-and-custodians/.

PM-DPA-Roles_09.17-004

This tool is used to record the status and location of departmental moveable capital equipment to the Property Management Department (PM) for processing within the SAP Asset Management system and to ensure the University is in compliance with accounting and research policies and regulations.

To access the form:

• Go to BUworks Central Portal site page https://www.bu.edu/buworkscentral or https://ppo.buw.bu.edu/
• Locate on the Finance tab
• Select Distributed Forms sub-tab
• Click on Asset Relocation (link on left-hand side of the window).

Note:  The Moveable Capital Equipment asset form is the defaulted display window in the Finance tab.

Moveable Capital Equipment form – Asset retirement, transfer, gift e.g. – 09.17-001

Menu Path:  BUworks Central Portal –> Finance –> Distributed Forms –> Asset Relocation –> Moveable Capital Equipment form for Asset Retirement/Transfer/Gift

The form is used to record asset inventory equipment which is labeled as “Disposition“; no longer in use due to different circumstances.  Such as being donated to an outside entity, destroyed, loaned, scrapped, sold, stolen, etc.

The form is completed with vital asset equipment information, submitted to initiate notification to the PM then printed and signed off on by the Dean/Department Head.  The signed copy is then forwarded to the Property Management Department for processing.

Once the original form is received, Property Management will process the information and manage the equipment for its life cycle in the Asset Management module within the SAP system.

Moveable Capital Equip Form – 09.17-002

1. What central department is responsible for setting policies, procedures and ensuring governance regulations for “Moveable Capital Equipment” here at Boston University?   PM develops and implements policies and procedures that enable efficient management of equipment for the University located on and off campuses.  They provide support for all matters related to the purchase, sale, accounting for and disposal of moveable capital equipment.  PM utilizes the Asset Management module in the SAP system to manage University’s assets throughout the life cycle of the equipment.
   
2. What is considered “Moveable Capital Equipment?”  Moveable Capital Equipment is defined as any tangible, non-expendable property that has a useful life of one year or greater with a cost of $5,000 or more.  Some examples are an automobile, centrifuge, microscope, projector, network server, e.g., Click here for more information: http://www.bu.edu/researchsupport/tools-services/property-management/moveable-capital-equipment-introduction-roles/.
3. Who do I contact if I have questions on Property Management policies and procedures?  Property Management, Post Award Financial Operations, 25 Buick Street, Room 228, Boston, MA  02215.  Property Manager:  Benjamin DeGennaro, Jr.  bdegenna@bu.edu (617)353-8087, Property Administrator:  Sarah Neveux sneveux@bu.edu (617)353-8083.   Click here for a list of Property Management specialists: http://www.bu.edu/researchsupport/tools-services/property-management/moveable-capital-equipment-introduction-roles/

Research Support has an excellent website which provides guidance, resources, processes, manuals, and policies on all things related to “Research.”  Here’s where you’ll find information on moveable capital equipment:  http://www.bu.edu/researchsupport/tools-services/property-management/.

PropertyManagement-Site-09.17-003

Common Questions related to Moveable Capital Equipment is found here:  http://www.bu.edu/researchsupport/tools-services/property-management/moveable-capital-equipment-introduction-roles/.   To view the “common questions” scroll down to bottom of the page and click on the “+” “Plus sign” to reveal the answer.

PM-CommQuestion_09.17-005