core-ct asset management...peoplesoft update manager (pum) is a lifecycle management process that is...

NPMA PRESENTATION

WHAT’S NEW IN ASSET MANAGEMENT

MAY 24, 2018

1

Core-CT Asset Management

Asset Madness! 2

Agenda 3

Introduction

Asset Management Progress

PeopleSoft Update Manager (PUM) Updates

Reminders

New Features

Asset Coding

Fiscal Year End

Current Issues/Work-arounds

Looking Ahead

Introductions

4

Core CT Introductions

David Bonola – AM Team Lead

Michael Carragher – AM Business Analyst

State Comptroller’s Office

Elizabeth Daly – Roles/Policy Questions

Agenda 5

Introduction

Asset Management Progress

PeopleSoft Update Manager (PUM) Updates

Reminders

New Features

Asset Coding

Fiscal Year End

Current Issues/Work-arounds

Looking Ahead

Asset Management Progress 6

Assets by the

Numbers

60 Business Units +500,000 Assets 35,ooo Locations

Asset Management Progress 7

0%

10%

20%

30%

40%

50%

60%

70%

80%

FY2005 FY2017

Physical Inventory

Percentage AssetsInventoried

Agenda 8

Introduction

Asset Management Progress

PeopleSoft Update Manager (PUM) Updates

Reminders

New Features

Asset Coding

Fiscal Year End

Current Issues/Work-arounds

Looking Ahead

Today’s Asset Management 9

8.4 8.9

9.1 9.2

No More Upgrades!

What is a PUM? 10

PeopleSoft Update Manager (PUM) is a lifecycle management process that is used with the PeopleSoft Update Manager PIA application, which runs on the PeopleSoft Image database.

There is one PeopleSoft Image per product family (database instance) and they will be released periodically.

Allows for a more efficient and timely schedule for fixing reported bugs as well as new product features.

What is a PUM? 11

PeopleSoft 9.2 will be the final release

All fixes and features will be delivered in PUM quarterly updates

Agenda 12

Introduction

Asset Management Progress

PeopleSoft Update Manager (PUM) Updates

Reminders

New Features

Asset Coding

Fiscal Year End

Current Issues/Work-arounds

Looking Ahead

Reminders 13

• Transaction Loader

• Reconciliation Reports

• Assets in Received Status

• ACORE Locations

• Chartfields

• Profile ID/Recats

Transaction Loader 14

• Core-CT closes the prior months books on the 11th of each month.

• All transactions for that month must be loaded

AM/AP Reconciliation 15

• Reconciliation report on the WorkCenter

AM/AP Reconciliation 16

• Only Reports Variances

AM/AP Reconciliation 17

• Creates PDF of all activity

AM/AP Reconciliation 18

Reconcile Received Assets 19

• Received/In Service Assets

• Asset Management > Search for an Asset

Even More Reminders! 20

• Locations

• Make sure to update ACORE locations

• Inactive Chartfields

• All Capitalized Assets (In-Service) associated with planned FYE Chartfield inactivation’s must be transferred (Intra-Unit) to valid/verified Chartfields. This transfer needs to take place prior to the inactivation of financial Chartfields. Transfer Inactive Chartfields before 07/01/2018

• Re-categorized Assets

• Verify profile ID is updated

Agenda 21

Introduction

Asset Management Progress

PeopleSoft Update Manager (PUM) Updates

Reminders

New Features

Asset Coding

Fiscal Year End

Current Issues/Work-arounds

Looking Ahead

Unified Transaction Loader 22

• No longer two separate

places to view pending

transactions.

• Added search

fields

Unified Transaction Loader 23

• Physical AND Financial lines are captured

Approve Transactions 24

New Feature: Approve Transactions

Approve Transactions 25

Approve Transactions 26

Approve Transactions 27

Disposal Worksheet 28

Now includes Non-financial Assets!

Agenda 29

Introduction

Asset Management Progress

PeopleSoft Update Manager (PUM) Updates

Reminders

New Features

Asset Coding

Fiscal Year End

Current Issues/Work-arounds

Looking Ahead

Bruno says Wakeup! 30

Asset Coding 31

• Account Expenditure Coding

• Asset Management > WorkCenter > Identify Assets in PO

Asset Coding 32

Expenditure Account Coding

53755 – Expensed Software(Expenditures/expenses for licensed and/or Internally Generated software with an acquisition cost of less than $5,000 per license)

54151 – Non-Controllable Assets (Expenditures/Expenses for items having an acquisition cost of less than $5,000. These assets are deemed Non-Agency Controlled and must NOT be recorded on inventory. Items charged to this account should not be capitlaized for GAAP reporting)

Asset Coding 33

Expenditure Account Coding

55725 – Capital – Capitalized Software (Expenditures/Expenses for licensed and/or Internally Generated software with an acquisition cost of $5,000 or greater). Items charged to this account should be capitalized for GAAP reporting purposes and must be recorded in Asset Management.

54150 – Controllable Assets (Expenditures/Expenses for

items having an acquisition cost of less than $5,000. These assets are deemed Agency Controlled and must be recorded on inventory. Items charged to this account should not be capitalized for GAAP reporting purposes)

Agenda 34

Introduction

Asset Management Progress

PeopleSoft Update Manager (PUM) Updates

Reminders

New Features

Asset Coding

Fiscal Year End

Current Issues/Work-arounds

Looking Ahead

Fiscal Year End 35

The Asset Management Fiscal Year 2018 Open Accounting Period will close on Wednesday, July 11, 2018.

Agencies must process all Fiscal Year 2018 Financial Adds, Adjustments, Retirements/Reinstatements, Re-categorizations, and Transfers on Tuesday, July 10, 2018 (Close of Business). After that date, these transaction types will be booked as Fiscal Year 2019 transactions.

Fiscal Year End 36

Fiscal Year End 37

Fiscal Year End 38

Asset Management Report AMAS2000 - Cost

Activity Detail Report - Select this report to assist with

the physical inventory reconciliation. The path for this

report is: Asset Management>Financial Reports>Cost

and Depreciation>Cost Activity. The final report cannot

be run until after July 11, 2018, after Asset Management

has closed.

Fiscal Year End 39

Asset Management Queries

CT_CORE_FIN_AM_COST_POS - Select this query to

calculate the positive cost of assets for a range of accounting

dates for the CO-59 report.

CT_CORE_FIN_AM_CO59_POS_DETAIL - Select this

query for detail information to support the above query.

CT_CORE_FIN_AM_COST_NEG - Select this query to

calculate the negative cost of assets for a range of

accounting dates for the CO-59.

CT_CORE_FIN_AM_CO59_NEG_DETAIL - Select this

query for detail information to support the above query.

Agenda 40

Introduction

Asset Management Progress

PeopleSoft Update Manager (PUM) Updates

Reminders

New Features

Asset Coding

Fiscal Year End

Current Issues/Work-arounds

Looking Ahead

Saving in Basic Add 41

Saving in Basic Add 42

Disposal Worksheet Filters 43

Next in List 44

Next in List 45

Agenda 46

Introduction

Asset Management Progress

PeopleSoft Update Manager (PUM) Updates

Reminders

New Features

Asset Coding

Fiscal Year End

Current Issues/Work-arounds

Looking Ahead

Looking Ahead 47

New Accounting Standard (GASB 87)

Currently GASB distinguishes between two types of leases: Capital leases and Operating leases. Operating leases treat assets and liabilities as off-balance sheet items (not recorded in Core-CT Asset Management)

The new Standard dramatically changes the way leases are handled for accounting purposes. The theory behind the change, is that Government "should recognize assets and liabilities arising from a lease” (record in Core-CT Asset Management)

• Effective Date December 2019

Looking Ahead 48

The Pre-GASB 87 approach to Leases required a subjective determination of whether a lease was classified as a “Capital” or “Operating” lease

•* Few Specific Exceptions

GASB now assumes all Leases will be Capital Leases

Looking Ahead 49

Evaluating Current Operating Leases

• Examples: • Buildings • Copiers • Mail Machines • Parking Lots

• Overall Impact Not Determined/Stay Tuned

Looking Ahead 50

PeopleSoft Fluid User Interface Expands

PeopleSoft

Mobility on any Device

New Online Desktop Experience

Native Tablet/Phone Experience

Simpler and More Intuitive

Device

Independent

Looking Ahead 51

Designed as a Significant Improvement over the PeopleSoft “Classic” User Interface

Classic Breadcrumb Navigation

Looking Ahead 52

End User can interact with Fluid pages using a mouse, keyboard, or touch interface

The need to remember extended navigation paths is removed

Looking Ahead 53

Fluid Disposal Requests

Fluid Transfer Requests

Fluid Approvals

Asset Labs 54

FYE18 Asset Management LAB

Asset Management Labs are being offered every Friday in the month of June. Please have staff sign up through your agency training registration contact. These are working labs without a presentation. Please bring any questions and issues with you.

Asset Labs 55

Session Recap

56

Questions