To All KFS Users:

In preparation for the close of fiscal year 2017 and the opening of fiscal year 2018 in KFS, please make note of the following:

1. KFS will be shut down at 5:00 pm on Friday, June 30^th.
2. KFS will be available Saturday morning, July 1^st for fiscal year 2018 processing.
3. eDocs that were routed to the central processing offices (Accounting, Accounts Payable, etc.) by the deadlines specified in the Controller Memo will be posted to fiscal year 2017, as well as any eDocs that missed these deadlines to the extent time permits. Fiscal year 2017 eDocs not finalized before June 30^th will be rolled over and posted in fiscal year 2018 when finalized.
4. Certain eDocs submitted after June 30 will be posted back to fiscal year 2017 by central offices, and you will notice these being reflected in fiscal year 2017, Period 13. If you have an eDoc that you believe should be posted to fiscal year 2017, (for example, to clean up a deficit account), please specify this on the eDoc before you submit it.

If you have any questions, please contact Robin Hoagland (486-3780) or Annette Pavone (486-2934).

Annette Pavone, CPA
KFS Functional Coordinator & Accounting Manager
Accounting Office
University of Connecticut
343 Mansfield Road
Storrs, CT 06269-1074
Phone: (860) 486-2934
Fax: (860) 486-0570

5 Quick Facts about Controllable Property:

1. Controllable Property includes ALL computers, and other items that are sensitive, portable, and theft-prone (laptops, tablets, Notebooks, cameras, projectors, etc.) and other items deemed controllable by the department.
2. Controllable Property has a cost of under $5,000 (no minimum)
3. A standard report “Controllable Property” is in the Capital Assets folder in KFDM
4. Individual departments are responsible for tracking Controllable Property
5. The KFS Object Code for Controllable Property is 8306

Part 4 of 5:

Tips on Managing Controllable Property / the Controllable Property Standard Report 

Each department is responsible for tracking and maintaining a list of their own Controllable Property. All Controllable Property* is listed in the KFS CAM (Capital Asset Management) module, and a corresponding KFDM standard report is available.

To access the standard report, log into WebFocus, and go to:

KFDM> Standard Reports > Capital Assets > Controllable Property

The report provides several parameter options, and can be filtered by location (building and room), or by the time since last inventoried. Like other standard reports, it can be downloaded into Excel or in PDF.

The report lists several fields including tag number, description, manufacturer, model number, serial number, location (building and room), owner organization, condition, asset create date, last inventory date, loan status, PO number, and the organization inventory name (custodian).

When running the report, you will likely find that many fields may be missing or incorrect. The department’s CAM Processor** has the ability to change any of these fields by using the KFS Asset Edit function. To do this, go to:

KFS > Main Menu > Lookup and Maintenance > Capital Asset Management > Asset

Look up the asset using the tag number, and click “edit” to open an Asset eDoc. To add or change the custodian (Organization Inventory Name), click on the Organization Information tab.

If an asset no longer exists, you may change the status from “N – Non-Capital Active” to “O – Non-Capital Retired.” This does not remove the requirement to properly surplus items. However, if you are sure that certain items were surplused, you should not leave them on the list. When changing the status from N to O, please provide as much information as possible about when the items were surplused, and provide a copy or number of an ACT-39 form, if available.

If an item was lost, damaged, or stolen, please follow the directions found here: Loss or Damage to Equipment

We understand that the initial cleanup of your list of Controllable Property may be time-consuming. Once it is cleaned up, we recommend monitoring the list regularly to make sure the information is correct and up-to-date.

Questions? Need help? Contact Inventory Control at InventoryControl@uconn.edu, give us a call, or visit our website http://accountingoffice.uconn.edu/913-2/

*Computers with a cost under $1,000 purchased prior to 7/1/15 may not be on the list. Contact Inventory Control if you would like tags sent to you for these items.

**To have the KFS CAM Processor role added to your profile, please go to financesystems.uconn.edu and complete the Additional Functional Request form found under Request Forms.

Annette Pavone, CPA
KFS Functional Coordinator & Accounting Manager
Accounting Office
University of Connecticut
343 Mansfield Road
Storrs, CT 06269-1074
Phone: (860) 486-2934
Fax: (860) 486-0570

5 Quick Facts about Controllable Property:

1. Controllable Property includes ALL computers, and other items that are sensitive, portable, and theft-prone (laptops, tablets, Notebooks, cameras, projectors, etc.) and other items deemed controllable by the department.
2. Controllable Property has a cost of under $5,000 (no minimum)
3. A standard report “Controllable Property” is in the Capital Assets folder in KFDM
4. Individual departments are responsible for tracking Controllable Property
5. The KFS Object Code for Controllable Property is 8306

Part 3 of 5:

Tips on Approving New Controllable Property (Asset Global Add) eDocs

The KFS Fiscal Officer on the Department Owner KFS account will receive an Asset Global (AA) eDoc in their action list. This is the eDoc that creates the asset record.

The approvers of this eDoc should verify that the following fields are correct:

Asset Location (Campus, Building Code, Building Room Number)

Organization Inventory Name (Custodian*)

If several computers are purchased at once, a single person may be listed as the custodian of all of the computers. Please take the time to update each asset record to the correct person.

Alternatively, an Asset Edit can be done later by the CAM Processor** to change the Custodian and the Asset Location (one asset at a time). To do this, go to:

KFS > Main Menu > Lookup and Maintenance > Capital Asset Management > Asset

Look up the asset using the tag number, and click “edit” to open an Asset eDoc. To add or change the custodian (Organization Inventory Name), click on the Organization Information tab.

The tag number(s) sent to the department will be on the eDoc, and the PO number or P-Card eDoc number will be listed in the “National Stock Number” field.

Questions? Need help? Contact Inventory Control at InventoryControl@uconn.edu, give us a call, or visit our website http://accountingoffice.uconn.edu/913-2/

*The Custodian is the person who is in possession of the equipment, is responsible for safeguarding the equipment, and is aware of the equipment’s location.

**To have the KFS CAM Processor role (Role #6) added to your KFS profile, please go to financesystems.uconn.edu and complete the Additional Functional Request form found under Request Forms.

Next Month’s Topic: Tips on Managing Controllable Property / the Controllable Property Standard Report

Annette Pavone, CPA
KFS Functional Coordinator & Accounting Manager
Accounting Office
University of Connecticut
343 Mansfield Road
Storrs, CT 06269-1074
Phone: (860) 486-2934
Fax: (860) 486-0570

5 Quick Facts about Controllable Property:

1. Controllable Property includes ALL computers, and other items that are sensitive, portable, and theft-prone (laptops, tablets, Notebooks, cameras, projectors, etc.) and other items deemed controllable by the department.
2. Controllable Property has a cost of under $5,000 (no minimum)
3. A standard report “Controllable Property” is in the Capital Assets folder in KFDM
4. Individual departments are responsible for tracking Controllable Property
5. The KFS Object Code for Controllable Property is 8306

Part 2 of 5:

Tips on Purchasing Controllable Property

Controllable Property should be coded to object code 8306 Controllable Property Equipment <$5,000 in KFS.  Inventory Control will create asset records for all items on Purchase Orders using this object code. Inventory Control will also send out tags to whoever is listed as the “Delivery To” person on the purchase order. Dell computers will generally arrive pre-tagged, so no tags will be sent.

If Controllable Property is purchased using a P-Card, Inventory Control will create an asset record and send out a tag to the department.

If a General Error Correction (GEC) or a Distribution of Income and Expense (DI) is used to change the coding TO 8306 on a transaction, please notify Inventory Control so that an asset record can be created and a tag mailed out.

Questions? Need help? Contact Inventory Control at InventoryControl@uconn.edu, or give us a call.

Next Topic: Approving New Controllable Property (Asset Global Add) eDocs

 

Annette Pavone, CPA
KFS Functional Coordinator & Accounting Manager
Accounting Office
University of Connecticut
343 Mansfield Road
Storrs, CT 06269-1074
Phone: (860) 486-2934
Fax: (860) 486-0570

5 Quick Facts about Controllable Property:

1. Controllable Property includes ALL computers, and other items that are sensitive, portable, and theft-prone (laptops, tablets, Notebooks, cameras, projectors, etc.) and other items deemed controllable by the department.
2. Controllable Property has a cost of under $5,000 (no minimum)
3. A standard report “Controllable Property” is in the Capital Assets folder in KFDM
4. Individual departments are responsible for tracking Controllable Property
5. The KFS Object Code for Controllable Property is 8306

Part 1 of 5:

Tips on Categorizing Controllable Property

Controllable Property is tangible personal property with a cost under $5,000. It includes items that are sensitive, portable, and theft-prone in nature. These items are prone to theft because they are either not secured, are easily portable, contain new technology, contain sensitive data, and/or they are adaptable for personal use.

All computers (desktops, laptops, Tablets, Notebooks) are considered controllable. Each department should use discretion to determine which other types of items should be categorized as controllable. This may differ from one department to another.

Other types of equipment that may be considered controllable include:

Audiovisual equipment
Televisions
Projectors
Communication equipment
Cellular phones
Printers
External hard drives
Scanners
Cameras
Scientific equipment

It is possible that an item that is considered controllable in one department may not be controllable in another department. Here are a couple of examples:

Example 1:

A projector that is on a cart and moved from one room to another with several potential users: Controllable.
A projector that is installed in a ceiling in a locked room: Not Controllable.

Example 2:

A microscope in an open lab with widespread access: Controllable.
A microscope in a locked lab with limited access: Not Controllable.

Again, each department should assess which items should be controllable in their area depending on their business environment and the risk that certain items may be stolen.

Next Month’s Topic: Purchasing Controllable Property

 

Annette Pavone, CPA
KFS Functional Coordinator & Accounting Manager
Accounting Office
University of Connecticut
343 Mansfield Road
Storrs, CT 06269-1074
Phone: (860) 486-2934
Fax: (860) 486-0570