Property Inventory 101
Property Inventory
May 2011
1
Plant Assets
 Land
 Buildings
 Improvements Other Than Buildings (IOB)
 Roads, parking, sidewalks
 Usually called Infrastructure
 Equipment
 Both Movable and Fixed
Property Inventory
May 2011
2
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
Property Inventory
May 2011
3
What is equipment?
 Single item that:
 Has a value of $5000 or more and
 useful life of two (2) or more years.
Property Inventory
May 2011
4
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:
Property Inventory
May 2011
5
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
Property Inventory
May 2011
6
Disposing of Equipment
“DISP” 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
Property Inventory
May 2011
7
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 doesn’t include user charges)
Property Inventory
May 2011
8
Computer OCC:
 480 – Computer & Accessory Equipment
 Non-Capital
 Costs Less than $5,000
 751 – Computer & Accessory Equipment
 Capital
 Costs $5,000 or more
Property Inventory
May 2011
9
Computer consists of:
 CPU
 Monitor
 Keyboard
 Mouse
 Cabling
 Internal items such as memory, boards, etc.
 Initial operating software
Property Inventory
May 2011
10
Items not considered a computer:
 Printer
 External disk drive
 Scanner
 External storage drive
 Video Camera
 Optional software
Property Inventory
May 2011
11
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
Property Inventory
May 2011
12
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.
Property Inventory
May 2011
13
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
Property Inventory
May 2011
14
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 circumstances…such as Sponsor requires all equipment
items over $2500 to be tagged.
Property Inventory
May 2011
15
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
Property Inventory
May 2011
16
Government Owned Equipment:
Prior written approval from the Government’s Administrative
Contracting Officer and/or Sponsor is required to:
 Transfer or Loaned Out
 Upgrade or Disassemble
 Disposed of or Destroyed
 Traded-in or Sold
Property Inventory
May 2011
17
Government Owned Equipment (continued):
As a standard practice the respective administrative area’s:
 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
Property Inventory
May 2011
18
Continued Government Owned Equipment:
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
Property Inventory
May 2011
19
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.
Property Inventory
May 2011
20
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?
Property Inventory
May 2011
21
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)
Property Inventory
May 2011
22