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					2011 Stock-take Guidelines                                            Division of Finance and Resource Planning




                       Division of Finance and Resource Planning




                             Guidelines for the

        2011 Annual Asset Stock-take



  The annual stock-take of QUT's Fixed Assets is a statutory requirement and is subject to
                         scrutiny by the Queensland Audit Office.
                       The key dates in the Stock-take process are:

                                  The final date for sighting assets:
                                    Thursday – 30th June 2011

              The final date for providing data to Financial & Capital Management:
                                      Friday – 8th July 2011

       Stock-take Certificate of Completion is due to Financial & Capital Management:
                                   Friday – 29th July 2011

  Any Faculty or Division who do not meet these time lines will automatically be referred to
                              the Director, Corporate Finance.



       The information in these guidelines is intended for the appointed Nominated Officer in each
                                           Responsibility Centre.
  It is the Nominated Officers’ responsibility to disseminate the stock-take process information to the
                             relevant officers within their responsibility area.




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2011 Stock-take Guidelines                        Division of Finance and Resource Planning



        Table of Contents                                                           Page

1.      General Overview                                                              3

1.1     Introduction                                                                  3

1.2     Contact Details                                                               3


2.      Roles and Responsibilities                                                    4

2.1     Responsibility Centres                                                        4

2.2     Financial and Capital Management Unit (FCMU)                                  4

2.3     Technology, Information and Learning Support (TILS)                           5


3.      2011 Stock-take Process                                                       6

3.1     Stock-take process flow diagram                                               6

3.2     Step-by-step guide                                                            7

3.3     2011 Stock-take timetable                                                     8


4.      Additional Instructions                                                       9

4.1     Asset Sales and Disposal Guidelines                                           9

4.2     Asset Training Materials                                                      9

4.3     Running Queries in the Fixed Asset Register                                   9

4.4     Replacing Location Barcode Labels                                             9

4.5     Asset Location Code Key                                                       9

4.6     Reviewing Scanned Data                                                        10

4.7     Replacing Asset Barcode Labels                                                10

4.8     Stock-take Risk Management Hierarchy                                          10

4.9     Assets on Loan                                                                11

4.10    Review of Non-Current and Intangible Assets                                   11

4.11    Stock-take Upload Template                                                    11

4.12    Certificate of Completion                                                     11


5.      Support Documentation                                                         13


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2011 Stock-take Guidelines                          Division of Finance and Resource Planning



                               1.      General Overview

1.1     Introduction

The Financial Accountability Act 2009 and the Financial & Performance Management
Standard 2009 in conjunction with the Manual of Policies and Procedures – Chapter G
(Section 3.1) and QUT Financial Management Practice and Procedures Manual – Chapter
8(G): Annual Asset Stock-take provides that an entity must perform an annual review of
assets to:

       verify the accuracy of the Fixed Asset Register

       assess the serviceability of assets

       identify any loss or theft of assets

In compliance with the above standards and QUT policy and procedures an annual review
of assets must be undertaken by Faculties / Divisions / Institutes, otherwise referred to as
Responsibility Centres, by the end of June each year. The Financial and Capital
Management Unit (FCMU) will co-ordinate this process on an annual basis.

These Guidelines itemise the procedures for performing the annual review of QUT‟s non-
current assets recorded in the Fixed Assets Register, in line with the above requirements.



1.2     Contact Details

Questions relating to any aspect of the stock-take process should be directed to one of the
following FCMU officers:

Mr Paul Kallio (Senior Finance Officer)        Ms Debbie Stokes (Finance Officer)
Ext. 85222                                     Ext. 82039
Email: fcmu@qut.edu.au                         Email: fcmu@qut.edu.au

Documentation can be forwarded to the Financial & Capital Management Unit, Level 2, 88
Musk Ave (Synergy) KG.




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2011 Stock-take Guidelines                           Division of Finance and Resource Planning



                             2.   Roles and Responsibilities

2.1.    Responsibility Centres

The following points outline the roles and responsibilities of Faculties/ Divisions/ Institutes:

       The Executive Dean of Faculty / Executive Director of Division is to appoint a
        Nominated Officer who will be responsible for the co-ordination of the stock-take
        process in the responsibility centre.

       The Nominated Officer is the sole contact with FCMU and are responsible for co-
        ordinating all stock-take activities within their Responsibility Centre.

       The Nominated Officer is responsible for reviewing the stock-take data before
        sending to FCMU to ensure data quality and data integrity.

       Responsibility Centres who do not own their own barcode scanners may obtain a
        loan scanner(s) from FCMU to undertake the stock-take.

        Note: Loan scanners must be returned on or before the scheduled return date to allow for
        upload of data, re-charge and re-issue of scanner.

       The Nominated Officer is responsible for issuing and collecting signed copies of the
        Equipment Loan Certificate for the responsibility centre and keeping them on file,
        should reference to them be required for future audits.

       The Executive Dean of Faculty / Executive Director of Division is to authorise the
        responsibility centres final Stock-take Summary report, including Certificate of
        Completion and forward it to FCMU by the due date.



2.2.    Financial and Capital Management Unit (FCMU)

The following points outline the roles and responsibilities of FCMU officers:

       Co-ordinate the stock-take and ensure that the stock-take is completed by the date
        specified in the 2011 Stock-take Guidelines.

       Manage bookings of loan scanners.

       Upload scanner data to the Oracle Fixed Assets module via the ADI template and
        notify Nominated Officers when this is completed.

       Update the Fixed Asset register with changes submitted from the stock-take
        process.

       Follow-up on any incomplete stock-take information from Nominated Officers.

       Refer any Responsibility Centre, which does not meet the stock-take completion
        date, to the Director, Corporate Finance.




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2011 Stock-take Guidelines                          Division of Finance and Resource Planning



2.3.    Technology, Information and Learning Support (TILS)

The following points outline the roles and responsibilities of TILS officers:

       Organise and co-ordinate the stock-take of the University‟s computing equipment.

       Liaise with Nominated Officers in regards to the scanning process i.e. timeframes,
        access etc.

       Submit scanned data to FCMU for uploading into Oracle.




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2011 Stock-take Guidelines                                                Division of Finance and Resource Planning



                                  3.         2011 Stock-take Process

3.1     Stock-take process flow diagram

The diagram below provides an overview of the information flow of the annual stock-take
process. Responsibility Centres are to review all assets under their management and
forward the information to FCMU for processing. The finalisation of the process occurs
with the authorisation of the Stock-take Summary documents, including Certificate of
Completion, by the Executive Dean of Faculty / Executive Director of Division.
                                                            March/April
                                                        Responsibility Centres
                                                         commence sighting
                                                              assets




                                                                 Choose
                                                                 Method


                                           Manual                                   Automated
                                      Upload template                             Barcode scanner
                                   available f rom FRP web
                                              site




                                          Nominated Of f icer is responsible f or the quality of
                                          sighted asset inf ormation. Bef ore submitting data
                                             to FCMU in either f orm, scanner data f ile or
                                              upload template, it MUST BE REVIEWED



                                                         FCMU updates asset
                                                         inf ormation in Oracle
                                                         Fixed Asset Register



                                               FCMU notif ies Nominated Of f icer to run
                                              Asset Detail Report (Comma Delimited
                                                          Export Version)




                                                           Nominated Of f icer
                                                           reviews reports f or
                                                            unsighted assets




                                                             Responsibility
          Write-off / transfer asset(s)                      Centres decide                             Investigate
              Submit appropriate                             on appropriate                        and locate unsighted
           documentation to FCMU.                               action to                                 assets.
                                                               undertake




                                                     Establish Unsighted Asset list
                                                    f or priority review in f ollowing
                                                             year stock-take.



                                                                Mid July
                                                      FCMU sends Certif icate of                         End of July
                                                    Completion to Executive Dean of                signed certif icate due to
                                                     Faculty / Director of Division.                       FCMU



                                  FCMU will subsequently liaise with Faculty / Division if any risks or
                                                unsatisf actory results are identif ied.




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2011 Stock-take Guidelines                             Division of Finance and Resource Planning



3.2      Step-by-step guide

      1. Organise the scanning of assets based on the Responsibility Centre‟s work area.
         This information is obtained from QUT‟s Space Management System (ARCHIBUS)
         on the Facilities Management website.

      2. Scan all areas without reference to the Asset Register, otherwise referred to as a
         blind stock-take.

      3. Check and submit the data to FCMU for uploading into Oracle.

      4. Run Asset Detail Report to follow-up on any unsighted assets.

      5. Collect Equipment Loan Certificates for assets used off-campus and submit the
         asset details via a stock-take upload template.

      6. Complete all scanning by 30th June.

      7. Submit all stock-take data to FCMU by 8th July.

      8. FCMU to provide a Certificate of Completion listing the stock-take results.

      9. FCMU will review the stock-take results taking into consideration the number, the
         age, the Net Book Value and type of unsighted assets. An unsatisfactory stock-take
         will result in the Responsibility Centre undertaking further investigations and
         reviewing all asset management procedures. The results of the investigations and
         review are to be reported to Director, Corporate Finance.

      10. FCMU will provide an exception report which lists scanned asset numbers that are
          either, not on the Register or retired from the Register. This list is to be investigated
          by the Responsibility Centre and action taken so the asset numbers do not appear
          in the following stock-take.




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2011 Stock-take Guidelines                                   Division of Finance and Resource Planning



3.3      2011 Stock-take timetable

 Date                     Task

 March                    Stock-take Training

 April / May / June       Loan scanners will be available for use by Faculty/Division
                          Nominated Officers

 April / May / June       Faculty / Division review of all assets under their management

 Mid-July                 Final date for Faculty / Division to provide information to FCMU

 Mid-July                 FCMU sends stock-take Certificate of Completion to Dean of
                          Faculty / Head of Division

 End of July              Signed stock-take Certificate of Completion due to FCMU
                                 th
Note: Assets not sighted by the 8 July will be listed as Missing Assets for the 2011 Stock-take and subject to
sign-off by the Executive Dean of Faculty / Executive Director of Division.

Should a Faculty / Division choose to adopt an earlier start date for sighting assets, it is
important to note that all additions (date in service) up to and including the official start
date of 31 March, 2010 will be required to be sighted.

The previous year’s unsighted assets should be made a high priority in the current
year stock-take.




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2011 Stock-take Guidelines                                       Division of Finance and Resource Planning



                                  4.        Additional Instructions

4.1       Asset Sales & Disposal Guidelines

QUT must ensure that for all asset disposals the appropriate probity issues have been
addressed, and the disposal process is in accordance with appropriate standards,
University policy and procedures, subject to fair dealings and openness.

Faculties and Divisions are provided with the flexibility of choosing how to dispose of their
assets in line with their local business activity requirements through a variety of methods,
which are detailed in the Asset Sales & Disposal Guidelines, available at:
                                http://www.frp.qut.edu.au/services/assets/


4.2       Asset Training Materials

A detailed set of asset related training materials may be accessed at:
                      http://www.frp.qut.edu.au/services/training/finance/assets/


4.3       Running queries in the Fixed Asset Register

Throughout the stock-take process Nominated Officers may wish to query details
regarding a particular asset or category of assets in the fixed asset register. Instructions
on how to make inquiries can be found at the following web address:
                      http://www.frp.qut.edu.au/services/training/finance/assets/


4.4       Replacing location barcode labels

If a room does not have a QUT Physical Facilities barcode label on the door frame
please contact the Manager, Standards and Records in Facilities Management on ext.
83622 for a replacement barcode label.


4.5       Asset location code key

The Fixed Asset register uses a 10 character code to record the location of an asset and
takes the form CC-BBB-FFRR eg. KG-141-0521 (Kelvin Grove - F Block - Room 521). The
table below provides a key of the code:

                                  CC                                        BBB            FF            RR
                                Campus                                     Building       Floor         Room

   GP        KG         CA         CB            OC             LN     QUT Building              Two digit number
                                                                          Codes       Two digit   (eg 02 for room
                                                                        available on number (eg two. NB add room
                                           Off Campus (eg
 Garden     Kelvin                                        On loan to a FRP website 01 for first  or wing identifier,
                     Carseldine Caboolture     Milton /
  Point     Grove                                         staff member (eg 129 for S    floor)    such as A or B,
                                            Margaret St)                Block (GP)               where applicable)

Building Codes http://www.frp.qut.edu.au/services/assets/documents/BuildingLocationCodes_ver0110.xls
Note: The location code for asset on loan should read “LN-000-0000”.



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2011 Stock-take Guidelines                           Division of Finance and Resource Planning



To view a location code combination in Oracle:

Log into Fixed Asset Module
Choose Inquiry
     Financial information
Click in Location field
Click List tab [...]
Click Combinations
Choose Campus, Building and click OK to view a list of room codes

Note: Not all location codes in Oracle are valid. They are based on ARCHIBUS which may
change over time.

4.6       Reviewing Scanned Data

The scanned data must be reviewed for obvious errors before submitting for upload.

The most common issues are:

      -   Using the letter „o‟ instead of the digit zero in either the location or asset number
          fields.
      -   When formatting the leading zero/s may fall off. The room number generally has a
          leading zero e.g. room 301 should be represented as 0301. Also, some old asset
          numbers begin with zero.
      -   The location combination is in the asset number field.
      -   Some location codes have a „/‟ in front and some assets have a „%‟ in front. These
          must be removed.

All asset numbers are 10 characters long with some assets ending in „R‟. It is o.k. if an „R‟
asset is scanned without the „R‟, the system is designed to cater for this situation.

Note: Asset numbers are uploaded into Oracle in the first and only instance. If an asset is
scanned a subsequent time, Oracle is not updated.


4.7       Replacing asset barcode labels

If an asset does not have a QUT Fixed Asset barcode label please contact Debbie
Stokes, FCMU on ext. 82039 or email fcmu@qut.edu.au noting the asset number to be
reprinted on the replacement barcode label and the return address to which the label is to
be sent.

4.8       Stock-take Risk Management Hierarchy

In analysing the annual stock-take results, FCMU adopt a risk management hierarchy to
group unsighted assets into three categories (high, medium and low) for review and
reporting to the Director, Corporate Finance.

A schedule of Unsighted Assets, categorised according to the risk management hierarchy,
will be attached to the Certificate of Completion (refer 4.12 Certificate of Completion).

The previous year’s unsighted assets should be made a high priority in the current
year stock-take.




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2011 Stock-take Guidelines                            Division of Finance and Resource Planning



4.9     Assets on Loan

All computers / equipment approved for off-campus use as per an Equipment Loan
Agreement, are included in the Annual Stock-take process. The staff member must
complete an Equipment Loan Certificate which confirms the existence and reports on the
condition of the computer / equipment. The location code for such items is LN-000-0000.
Conversely, all items in the Fixed Asset Register with this location code must be matched
with an Equipment Loan Certificate and Agreement.

The Nominated Officer is responsible for issuing and collecting signed copies of the
Equipment Loan Certificate for the responsibility centre and keeping them on file, should
reference to them be required for future audits

4.10    Review of Non-Current & Intangible Assets

In addition to the sighting of assets, the University conducts specific reviews of non-current
& intangible assets. A memo will be sent out to the Faculty and Division Administration
Managers mid September for a mid October completion covering:

4.10.1 Useful Lives Review

The useful lives review involves a re-assessment of the period over which individual assets
are expected to be available for use by the Faculty/Division.

4.10.2 Impairment of Assets Review

All non-current assets and intangible assets must be assessed every year for indicators
that an asset may be impaired. In general, an asset is impaired when its recoverable
amount (sale price) is less than its carrying amount (book value).

4.10.3 High Value Plant and Equipment

An additional review of non-current assets with a high asset value, ie >$100,000 that have
the potential for high price volatility and/or changes in valuation, is undertaken.

4.11    Stock-take Upload Template

Use the Stock-take Upload Template for manually sighted assets i.e. assets on loan,
software and where it is logistically impractical to scan.

                             http://www.frp.qut.edu.au/services/assets/

Nominated Officers who have their own scanners will be responsible for downloading
scanned information into text files and forwarding to FCMU for upload into Oracle Fixed
Assets module.

4.12    Certificate of Completion

The Certificate of Completion (see example following page) will be forwarded to the
Executive Dean of Faculty / Executive Director of Division by FCMU at the completion of
data analysis in late July. The signed certificate is to be returned to FCMU by Friday 29th
July.

All assets which are unsighted after 3 consecutive stock-takes must be processed for
retirement as lost.


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2011 Stock-take Guidelines        Division of Finance and Resource Planning




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2011 Stock-take Guidelines                                   Division of Finance and Resource Planning



                               5.     Support Documentation

 Document       Available at        Authorisation or        Purpose                   Supporting Documentation
                                    Sign-off required

 Floor Plans    ARCHIBUS            Faculty / Division      Identifies the areas to   N/A
                                    Nominated Officer       be covered in the
                                    to run report           stock-take.


 Asset Detail   Oracle Fixed        Faculty / Division      Lists asset specific      N/A
 Report         Asset module        Nominated Officer       stock-take information
                                    to run report           required to assist in
                                                            the management of
                                                            assets.

 Equipment      FRP Website         Individual staff        Records the location      Faculty / Division to forward
 Loan                               member                  and condition of          forms to relevant staff. Forms
 Certificate                                                assets on loan to staff   to be signed and kept on file by
                                                            members                   Faculty / Division.
                                                                                      Nominated Officer to prepare a
                                                                                      list of Off Campus assets.

 Equipment      FRP Website         Head of School /        Establishes terms of      Attach schedule of
 Loan                               Department              loan for QUT              computers/equipment should
 Agreement                                                  computer/equipment        there be insufficient space on
                                    Staff Member
                                                            by Staff member.          the form.



 Write-off      FRP Website         Executive Dean of       Refer to write-off form   Refer to write-off form (hand
 form                               Faculty / Executive     (hand written)            written)
 (electronic)                       Director of Division
                                    Director, Corporate
                                    Finance (if NBV >
                                    $5,000)

 Write-off      FRP Website         Executive Dean of       Record details of         Specific to the type of disposal
 form (hand                         Faculty / Executive     assets to be
 written)                           Director of Division    disposed:
                                    Director, Corporate
                                                            1. Sold or Auctioned      Sales or Auction form
                                    Finance (if NBV >
                                    $5,000)
                                                            2. Given away             Memo from Executive Dean of
                                                                                      Faculty / Executive Director of
                                                                                      Division
                                                                                      See QUT Financial
                                                                                      Management Practice and
                                                                                      Procedures Manual – Chapter
                                                                                      8(I)

                                                            3. Stolen or lost         Memo from Executive Dean of
                                                                                      Faculty / Executive Director of
                                                                                      Division
                                                                                      Police and Security report
                                                                                      numbers (if stolen)
                                                                                      Security report number (if lost)
                                                                                      See QUT Financial
                                                                                      Management Practice and
                                                                                      Procedures Manual – Chapter
                                                                                      8(I)




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2011 Stock-take Guidelines                                     Division of Finance and Resource Planning



 Document         Available at         Authorisation or       Purpose                    Supporting Documentation
                                       Sign-off required

                                                              4. Traded-in               Purchase order number for
                                                                                         replacement asset to be noted
                                                                                         on write-off form

                                                              5. Dumped                  Application to Dump Assets
                                                                                         form (where appropriate)

 Dump             FRP Website          Head of School /       Required when              Attached to Application to
 Assets form                           Department             writing off an asset       Write-Off Assets form
                                                              where no recoverable
 (only                                 Fixed Asset Officer
                                                              amount will be
 required
                                       Third Party            received on disposal
 when a hand
                                                              or where the amount
 written write-
                                                              recoverable will be
 off form is
                                                              less that the cost of
 filled in)
                                                              disposal

 Stock-take       Distributed to       Executive Dean of      Final certification that   Supporting documentation in
 Certificate of   Faculty / Division   Faculty / Executive    stock-take                 the form of a Missing Assets
 Completion       by FCMU on           Director of Division   requirements have          schedule is to be attached by
                  completion of                               been fulfilled             FCMU.
                  stock-take


All forms other than the Certificate of Completion used in the annual stock-take may be
downloaded from the FRP web site at:

                            Financial & Capital Management Forms & Guidelines




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