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Fixed Asset Kentucky

VIEWS: 6 PAGES: 9

									                                                                                                                                           Role Design and Impact

“To Be”                                       (Fixed Asset) Property and Insurance Control Management
Redesigned Role
Business Area: Fixed Assets                                                     MARS Roadmap: Fixed Assets

                         Role Description                                                                                      Key Activities
                                                                                                Tag property
   To account for property inventory and notify
                                                                                                Report property to Insurance
   insurance companies.                                                                         Disposal of Assets
                                                                                                Maintain Inventory of Assets
                                                                                                Maintain History of Assets
                                                                                                Process Fixed Asset Betterment (FB) Document


                                                                                Detailed Activities

Tag property                                                                                    Maintain Inventory of Assets
•Record in MARS: value, description of asset, type of asset                                     •Physical counts of property inventory
procurement document, serial number, model number, etc.                                         •Reconcile Discrepancies
•Complete FA (Fixed Asset Acquisition) document*

Disposal of Assets                                                                              Process Fixed Asset Betterment (FB) Document
•Sell Asset to public                                                                           •Review Fixed Asset Betterment (FB) Document
•Discard Asset
•Trade-In Asset
•Sell Asset to another agency (system transfers)
•Donate Asset to charity
•Give Asset to Surplus Property




Notes:
Bold, italic text indicates activities supported and/or facilitated to a significant degree by MARS.                                                                 1
“*” Indicates activity for which significant reductions in time and/or effort to complete are expected due to automation and/or streamlined processes.
“(F)”Indicates activities that are dependent upon agency structure and/or agency willingness to “push” accountability to the field.                      LSME: L. Flora
                                                                                    Role Design and Impact



 Current to New Role Comparison for (Fixed Asset) Property and Insurance Control Management

                                                                                       Timing
                 Activities That Remain the Same
                                                              N/A
Tag Property
•Sell Asset to Public
•Discard Asset
•Trade-In Asset                                                                 Definition of Terms
•Sell Asset to Another Agency (system transfers)
•Donate Asset to Charity
•Give Asset to Surplus Property                               •Fixed Asset= personal property and what was previously
•Physical counts of property inventory                        defined as inventory by many agencies
•Reconcile Discrepancies

                          Changed Activities
•Report property to Insurance
•Maintain History of Assets
•Process Fixed Asset Betterment (FB) Document
•Record in MARS: value, description of asset, type of asset                 Training and Skill Needs
procurement document, serial number, model number, etc.
•Review Fixed Asset Betterment (FB) Document                  MARS Fixed Assets

                  Activities No Longer Performed              Prerequisites:
                                                              MARS Computer Based Training
                                                              MARS Computer Literacy Training
•Receive Invoice from Accounting
•Manual Report to Department of Insurance

                                                                                                                   2
                                                                                                    LSME: L. Flora
                                                                                                                                         Role Design and Impact



   Current to New Role Comparison for (Fixed Asset) Property and Insurance Control Management

                                                                              Additional Notes

   •In the future the Department of Insurance will be electronically notified of property, as opposed to receiving a manual report.
   •The method utilized for asset disposal depends on the agency type.
   •Concerning Maintaining Inventory of Assets: STARS only tracks property over $5,000; MARS will track whatever agencies set as the dollar limit. Agencies will enter this
   information once, and it will be stored in the system. This will be much more efficient and accurate than the current process, in which each agency maintains their own tracking
   system for property under $5,000.
   •An additional benefit of MARS is that notification of purchased assets will be much faster and more accurate than under the current system.
   •Individuals will no longer receive an invoice from Accounting indicating property purchases. This process will be electronic- a form will be completed on the computer.
   •Maintain History of Assets- a new key activity for this role. This history will be electronic and will allow for more accurate tracking of assets.
   •Fixed Asset Betterment (FB)- It is the same type of document as a Fixed Asset (FA). It ties an improvement to a particular Asset and can be depreciated.



                    Documents Relevant to Role                                                                                    Template Key
                                                                                               Activities that will be completed via MARS have been highlighted through the use of
      MARS Documents                            Documents Formerly Used                        italic, bold font.
Fixed Asset Acquisition (FA)                     DOA-02: Pay-In Voucher [1]                    Activities that are dependent upon agency structure and/or agency willingness to
Fixed Asset Betterment (FB)                                                                    “push” accountability out to the field are identified with an “(F)”.
Fixed Asset Modification (FC)                                                                  Activities for which significant reductions in time and/or effort required are expected to
Fixed Asset Disposition (FD)                                                                   result from automation and/or process streamlining are indicated with an “*”.
Fixed Asset Sale (FS)                                                                          Detail activities are grouped according to the key activity (underlined) they support.
Fixed Asset Transfer (FT)                                                                      MARS documents are cross-referenced (by number) to the document(s) they replace.
Fixed Asset Funding Source                                                                     For more information on the process flow for activities regarding this area, please
Modification (FF; Central Agency                                                               consult the MARS Roadmap document cited. Roadmaps may be found at
Only)                                                                                          http://www.state.ky.us/agencies/adm/mars/marssua.htm.
Cash Receipt (C1) [1]                                                                          For more training guidance, please consult the MARS Training Curriculum, which will
                                                                                               be posted to the MARS page of the Simplified Administrative Services Web site at
                                                                                               http://www.state.ky.us/agencies/adm/mars/mars.htm.

                                                                                                                                                                                 3
                                                                                                                                                             LSME: L. Flora
                                                                                                                                           Role Design and Impact

“To Be”                                       Supervision of Fixed Asset Property
Redesigned Role
Business Area: Fixed Assets                                                     MARS Roadmap: Fixed Assets

                         Role Description                                                                                      Key Activities


 The supervision of staff in the management of fixed                                   Oversee Property and Insurance Control Management
 asset property.                                                                       Reconcile Discrepancies
                                                                                       Review Fixed-Asset Reports




                                                                                Detailed Activities


   Oversee Property and Insurance Control Management
   Oversee all changes to documents
   Oversee all additions of assets
   Oversee all asset disposal




Notes:
Bold, italic text indicates activities supported and/or facilitated to a significant degree by MARS.                                                                 4
“*” Indicates activity for which significant reductions in time and/or effort to complete are expected due to automation and/or streamlined processes.
“(F)”Indicates activities that are dependent upon agency structure and/or agency willingness to “push” accountability to the field.                      LSME: L. Flora
                                                                                Role Design and Impact



                Current to New Role Comparison for Supervision of Fixed-Asset Property

                                                                                   Timing
                Activities That Remain the Same
                                                           July 1, 1999
Oversee Property and Insurance Control Management
Reconcile Discrepancies
Review Fixed-Asset Reports
                                                                            Definition of Terms

                                                           •Fixed Asset= personal property and what was
                                                           previously defined as inventory by many agencies


                        Changed Activities

                                                                          Training and Skill Needs
N/A
                                                           Prerequisites:
                                                           MARS Computer Based Training
                                                           MARS Computer Literacy Training

                Activities No Longer Performed

N/A




                                                                                                              5
                                                                                                LSME: L. Flora
                                                                                                             Role Design and Impact



                    Current to New Role Comparison for Supervision of Fixed-Asset Property

                                                        Additional Notes

  •The scope of the supervisory roles depends on each particular agency. It may be likened to a property officer or a director of
  accounting.
  •In some agencies, the same person does both supervision and management of fixed-assets.
  •In some agencies, the supervisory role may be removed from other areas of fixed-asset management.




                  Documents Relevant to Role                                                          Template Key
                                                                   Activities that will be completed via MARS have been highlighted through the use of
     MARS Documents                Documents Formerly Used         italic, bold font.
Fixed Asset Acquisition (FA)       DOA-02: Pay-In Voucher [1]      Activities that are dependent upon agency structure and/or agency willingness to
Fixed Asset Betterment (FB)
                                                                   “push” accountability out to the field are identified with an “(F)”.
Fixed Asset Modification (FC)
Fixed Asset Disposition (FD)                                       Activities for which significant reductions in time and/or effort required are expected to
Cash Receipt (CR)                                                  result from automation and/or process streamlining are indicated with an “*”.
Fixed Asset Sale (FS)                                              Detail activities are grouped according to the key activity (underlined) they support.
Fixed Asset Transfer (FT)                                          MARS documents are cross-referenced (by number) to the document(s) they replace.
Fixed Asset Funding Source
                                                                   For more information on the process flow for activities regarding this area, please
Modification (FF; Central Agency
                                                                   consult the MARS Roadmap document cited. Roadmaps may be found at
Only)                                                              http://www.state.ky.us/agencies/adm/mars/marssua.htm.
Fixed Asset Management Reports
Cash Receipt (C1) [1]                                              For more training guidance, please consult the MARS Training Curriculum, which will
                                                                   be posted to the MARS page of the Simplified Administrative Services Web site at
                                                                   http://www.state.ky.us/agencies/adm/mars/mars.htm.

                                                                                                                                                     6
                                                                                                                                 LSME: L. Flora
                                                                                                                                           Role Design and Impact

“To Be”                                       Fixed Asset/Liability Management
Redesigned Role
Business Area: Fixed Assets                                                     MARS Roadmap: Fixed Assets
                         Role Description                                                                                      Key Activities

 To manage condition and risk                                                            Fixed Asset Observation
 associated with each individual asset.                                                  Review Insurance/ Risk Coverage



                                                                                Detailed Activities

 Fixed Asset Observation:                                                Review Insurance/ Risk Coverage:
 •Property observation                                                   •Review insurance coverage and receive notification of claims
 •Evaluate condition of property                                         and complaints against an agency involving a fixed asset
 •Conduct a condition assessment
          •dispose of property
          •repair property
          •replace property
          •reevaluate property
 •Review OSHA requirements, Kentucky Revised Statutes,
 building codes, and other laws & regulations pertaining to fixed asset management
 •Review Repair and Maintenance Table for Fixed Assets (MARS automatically updates table)
 •Review Fixed Asset History, including the following:
          •Establish replacement dates
          •Update useful life
          •Review condition update
          •Review maintenance agreement
Notes:
Bold, italic text indicates activities supported and/or facilitated to a significant degree by MARS.                                                                 7
“*” Indicates activity for which significant reductions in time and/or effort to complete are expected due to automation and/or streamlined processes.
“(F)”Indicates activities that are dependent upon agency structure and/or agency willingness to “push” accountability to the field.                      LSME: L. Flora
                                                                                     Role Design and Impact



                  Current to New Role Comparison for Fixed Asset/ Liability Management

                                                                         Activities No Longer Performed
                Activities That Remain the Same
                                                                N/A
•Property observation
•Evaluate condition of property
•Conduct a condition assessment
         •dispose of property                                                           Timing
         •repair property
         •replace property
         •reevaluate property                                   July 1, 1999
•Review OSHA requirements, Kentucky Revised Statutes,
building codes, and other laws & regulations                                     Definition of Terms
•Review insurance coverage and receive notification of claims
and complaints against an agency involving a fixed asset        •Fixed Asset= personal property and what was
                                                                previously defined as inventory by many agencies

                            New Activities

•Review Repair and Maintenance Table for Fixed Assets
(MARS automatically updates table)                                             Training and Skill Needs
•Review Fixed Asset History, including the following:           Prerequisites:
       •Establish replacement dates                             MARS Computer Based Training
       •Update useful life                                      MARS Computer Literacy Training
       •Review condition update
       •Review maintenance agreement

                                                                                                                   8
                                                                                                     LSME: L. Flora
   Role Design and Impact



                      Current to New Role Comparison for Fixed Asset/ Liability Management

                                                                Additional Notes

 •MARS will bring to agencies, for the first time, the ability to tag and track all types of fixed assets in one system rather than many.
 •MARS will greatly enhance the efficiency with which fixed assets are managed, allowing agencies to track fixed assets throughout their entire
 lifecycle.
 •Through the use of the Repair and Maintenance Table for Fixed Assets, as well as the Fixed Asset History, MARS will simplify the process for
 managing fixed assets.




                  Documents Relevant to Role                                                                     Template Key
                                                                              Activities that will be completed via MARS have been highlighted through the use of
     MARS Documents                    Documents Formerly Used                italic, bold font.
Fixed Asset Acquisition (FA)             DOA-02: Pay-In Voucher [1]           Activities that are dependent upon agency structure and/or agency willingness to
Fixed Asset Betterment (FB)
                                                                              “push” accountability out to the field are identified with an “(F)”.
Fixed Asset Modification (FC)
Fixed Asset Disposition (FD)                                                  Activities for which significant reductions in time and/or effort required are expected to
Cash Receipt (CR)                                                             result from automation and/or process streamlining are indicated with an “*”.
Fixed Asset Sale (FS)                                                         Detail activities are grouped according to the key activity (underlined) they support.
Fixed Asset Transfer (FT)                                                     MARS documents are cross-referenced (by number) to the document(s) they replace.
Fixed Asset Funding Source
                                                                              For more information on the process flow for activities regarding this area, please
Modification (FF; Central Agency
                                                                              consult the MARS Roadmap document cited. Roadmaps may be found at
Only)                                                                         http://www.state.ky.us/agencies/adm/mars/marssua.htm.
Fixed Asset History
Cash Receipt (C1) [1]                                                         For more training guidance, please consult the MARS Training Curriculum, which will
                                                                              be posted to the MARS page of the Simplified Administrative Services Web site at
                                                                              http://www.state.ky.us/agencies/adm/mars/mars.htm.

                                                                                                                                                                9
                                                                                                                                            LSME: L. Flora

								
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