Only if they meet the capital class code threshold for the asset and are an upgrade.
If warranty or extended warranty costs are itemized, they are not included in the asset cost.
When entering the information for a new inventory item into Preliminary Fixed Assets and the exact location of the equipment is not known, please enter any information that will help to locate that item in the interim. For example, the initials of the person who will be primarily responsible for the equipment might be appropriate. Then, when the permanent location is known, please update FAMIS as soon as possible to facilitate your annual inventory certification process.
Any item whose value is $5,000 or greater and has a useful life of greater than one year must be inventoried. This includes equipment, furniture, vehicles, etc.
Certain high-risk items with a value of $500 or greater and a useful life of greater than one year must be inventoried. These are called controlled items and include TVs, VCRs, cameras, computers, tablets/smartphones, and data projectors.
Also controlled are all firearms, drones (unmanned aircraft systems), works of art, trailers, and vehicles, regardless of value.
Fabricated assets derive their value from the combined value of the labor and the parts that were invested in the final product. Any donated equipment, services or supplies should be documented and added to the total value of the equipment. In addition, the value of labor should be estimated, recorded, and added to the value of the equipment. Upon completion, subject the equipment to the inventory criteria discussed above to determine whether it should be added to inventory. If so, please submit your records to Property Management.
The inventory number must be permanently affixed to an item promptly upon receipt and acceptance, but no later than 10 calendar days after receipt. According to the State Comptroller's office, the only items that must be tagged are inventory items. However, marking non-inventory items helps with the annual inventory certification process. Non-Inventory property that is on loan should be labeled as "Property of Texas A&M University" or "Property of State of Texas." Inventory items should have the label provided by Property Management affixed to the asset.
Missing and stolen items should be reported to your department head and Property Management with 24 hours.
Submit an FDP-9 Report of Missing or Stolen form to Property Management with police report (where applicable) and any other supporting documentation.
Missing property will remain on your department's inventory for at least two years. Stolen property will be deleted immediately.
Your inventory records will identify missing inventory in a number of ways. If your annual certification lists items as missing, simply verify this status. There is no need to re-submit missing documentation to Property Management. If the property has been recovered, please notify us immediately so we can change the status in the records.
In FFX, Screen 534 (Canopy = FFX > Search > Asset Search > Dept), which lists your department's inventory, the field "Room" will show "MISS."
In general, monitors are considered separate components from the CPUs. Therefore, they are generally not inventoried because they often do not meet capitalization/control criteria. If, however, a computer and monitor are purchased as a package, then the system will be inventoried as a whole. The monitor will not receive a separate asset tag.
If payment was recently made on the invoice, the asset may not be approved yet. Property Management will mail the tag once the asset is approved. Temporarily label the asset until the permanent tag is received.
If you need to request a tag, submit a ticket to Property Management via Report an Issue with the invoice information, asset number, and serial number.
Submit a ticket to Property Management via Report an Issue with the asset number and a new tag will be mailed the following week.
Submit a ticket to Property Management via Report an Issue with the asset number and new serial number. We will update the information and mail a new tag the following week.
Submit an FDP-404 Request for Extension of Time for Annual Inventory Certification to Property Management.
Submit an FDP-414 Property Additions and Deletions to Property Management. In the top-right section of the form, select Trade-In and add the FAMIS Doc # and New Asset Number. In the middle of the form, list the asset number, description, acquisition date, and cost for the old asset that was traded in.
An asset search by serial number can be performed in Canopy or FAMIS.
Canopy: FFX > Search > Attribute Search
Enter the Serial Number in Search field
Select Serial Number as Type
Search
FAMIS: FFX Screen 533 or 536
Enter the Serial Number in Search Value field
Update Search Type to S
Enter
Scan & Validate login credentials can be found within the Inventory Certification Packet. Please review entire packet prior to logging into Scan & Validate.
Scan & Validate login credentials can be found within the Inventory Certification Packet. Please review entire packet prior to logging into Scan & Validate.
If you returned an asset for a refund, the credit needs to be paid to the same object code the original payment was made to. Also, submit an FDP-414 Property Additions and Deletions with a copy of the credit memo to Property Management.
If the asset was exchanged for the same equipment or equipment was replaced by vendor/manufacturer and no additional money was spent or refunded, submit a ticket to Property Management via Report an Issue with the new asset’s serial number so it can be updated.
If the asset was exchanged as a trade-in, submit an FDP-414 Property Additions and Deletions to Property Management. In the top-right section of the form, select Trade-In and add the FAMIS Doc # and New Asset Number. In the middle of the form, list the asset number, description, acquisition date, and cost for the old asset that was traded in.