Property Inventory 101

Property Inventory 1May 2011

Plant Assets Land

Buildings

Improvements Other Than Buildings (IOB) Roads, parking, sidewalks

Usually called Infrastructure

Equipment Both Movable and Fixed

Property Inventory 2May 2011

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 3May 2011

What is equipment? Single item that:

Has a value of $5000 or more and

useful life of two (2) or more years.

Property Inventory 4May 2011

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 5May 2011

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 6May 2011

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 7May 2011

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 8May 2011

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 9May 2011

Computer consists of: CPU

Monitor

Keyboard

Mouse

Cabling

Internal items such as memory, boards, etc.

Initial operating software

Property Inventory 10May 2011

Items not considered a computer: Printer

External disk drive

Scanner

External storage drive

Video Camera

Optional software

Property Inventory 11May 2011

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 12May 2011

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 13May 2011

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 14May 2011

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 15May 2011

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 16May 2011

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 17May 2011

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 18May 2011

Government Owned Equipment (continued):

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 19May 2011

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 20May 2011

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 21May 2011

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 22May 2011