Asset Mass Transfers (40.2.6)

1

Intraunit Transfer Agreement

If it is an intraunit mass transfer of assets, the Agency AM Asset Custodian implements internal controls for managing and controlling assets, including documented agreements to transfer assets within the agency. The Transfer Agreement includes discussions with the DFS AM Asset Processor to determine the timing of the actual transfer.

2

Intraunit Online Transfer Request

Agency AM Asset Custodian authorizes the DFS AM Asset Processor to use the Mass Transaction Manager (MTM) function to request approval and execute inter-agency transfer of assets.

The transfer of assets marked as Fully Sensitive and Partially Sensitive must be initiated by users with the Sensitive Data Security (FLP_AM_SENS_PROCESSOR) system role.

3

Interunit Transfer Agreement

If it is an interunit mass transfer of assets, Agency A and Agency B agree to the transfer of assets. The mass transfer agreement is usually a result of mandated law related to an agency restructuring or consolidation. The Transfer Agreement also includes discussions with the DFS AM Asset Processor to determine the timing of the actual transfer.

4

Interunit Online Transfer Request

The Agency A – AM Asset Custodian authorizes the DFS AM Asset Processor to use the Mass Transaction Manager (MTM) function to request approval and execute the inter-agency transfer of assets.

The transfer of assets marked as Fully Sensitive and Partially Sensitive must be initiated by users with the Sensitive Data Security (FLP_AM_SENS_PROCESSOR) system role.

5

Initiate Approval Workflow (AMW004)

The Asset Mass Transfer Workflow (AMW004) is initiated when the DFS AM Asset Processor completes the MTM request.

After the workflow is initiated, Florida PALM displays a Pending Approval status on the Review Cost page for each asset record selected for transfer. The Pending Approval status prevents transactional updates to the asset record. Once the request is approved, the “Pending Approval” checkbox is no longer visible for the assets on the Review Cost page.

6

Review For Approval

If the request is for an intraunit transfer, the agency Asset Mass Transfer Approver reviews the request and takes appropriate action. If the request is denied, Florida PALM removes the Pending Approval status from the asset record. Removal of the Approval Pending status reinstates the option to perform transactional updates, including resubmittal of the transfer request.

If the request is approved, Florida PALM removes the Pending Approval status from the asset record and lists the transactions on the Staging Table.

If the request is for an interunit transfer, the Agency A – Asset Mass Transfer Approver reviews transfer request and takes appropriate action. If Agency A – Asset Mass Transfer Approver denies the transfer request, Florida PALM removes the Pending Approval status from the asset record. Removal of the Approval Pending status reinstates the option to perform transactional updates, including resubmittal of the transfer request.

If the request is approved by Agency A, the request is routed to the next approver indicated on the workflow.

7

Review For Approval

If the transfer is approved by Agency A, and DMS approval is required, the workflow approval request is routed to DMS. The Pending Approval status remains on the asset record, and transactional updates remain restricted.

If DMS denies the request, the Pending Approval Status is removed and the option to perform transaction updates including resubmittal of the transfer request is restored.

If the transfer is approved by DMS or if DMS approval is not required, the workflow approval request is routed to Agency B.

8

Review For Approval

If Agency B denies the request, the Pending Approval Status is removed and the option to perform transaction updates including resubmittal of the transfer request is restored.

If Agency B approves the request, the Pending Approval is no longer displayed on the Review Cost page, and the asset details are populated in the Florida PALM Staging records.

MTM approval workflow transmits a notification to the transfer requester with denial or approval decision.

9

Review Approved Asset Transfers

When the asset details are populated in the delivered Florida PALM AM staging records, i.e., Physical Interface records (PS_INTFC_PHY_A and PS_INTFC_PHY_B) and Financial Interface records (PS_INTFC_FIN), users with appropriate security can review and change the status of each transaction. Statuses include Pending, Hold, Exclude, or Loaded.

10

Run Transaction Loader

Florida PALM executes the Transaction Loader Process, which selects assets approved for transfer, in preparation of updating various core Asset Management tables.

The Agency AM Asset Processor can also execute the Transaction Loader process on demand.

11

Transfer Assets

For interunit transfers, after successful completion of Transaction Loader process, Florida PALM establishes a record of the transferred assets in Agency B with a new, agency unique Asset ID for each asset. The asset record in Agency B inherits the depreciation profile from Agency A. The Net Book Value from Agency A establishes the asset cost for Agency B. Transferred Asset Report identifies assets acquired via transfer.

Intraunit asset transfers will appear with unchanged Asset ID’s, with updated ChartField values or organizational changes if applicable.

12

Calculate Depreciation

Florida PALM initiates the Calculate Depreciation process based on an established schedule. This process calculates the depreciation for an asset for its entire useful life based on the depreciation attributes selected for the Asset – cost, salvage value, and useful life.

Calculate Depreciation may also be initiated on demand for individual asset transactions.

This process must be run when core asset transactions are processed such as:

• Addition of asset
• Update of asset records
• Transfer of asset
• Disposal of asset
• Mass Transfer of assets

If the asset is non-depreciable, Florida PALM by-passes the Calculate Depreciation, and completes the Create Accounting Entries process.

13

Complete Asset Transfers

After Depreciation Calculation is successfully executed against each Asset, Florida PALM (per enterprise schedule), runs the following core processes to acquire updated Asset information and create accounting transactions. The Agency AM Asset Processor may also run these processes on demand.

Load Depreciation Reporting Table process - This process loads the Depreciation Reporting table (DEPR_RPT) with life-to-date depreciation expense data. Content of DEPR_RPT table provides the basis for most depreciation reports.

Load Asset Net Book Value Process - This process loads the Asset Net Book Value table (ASSET_NBV_TBL) with data used for Asset Net Book Value reports.

Depreciation Close - This process generates period depreciation accounting entries for all depreciable assets in a particular accounting period. The process should be run for an accounting period that has not yet been closed.

Create Accounting Entries - This process generates accounting entries for all financial transactions unrelated to depreciation. Examples for accounting entries are asset cost, increase of asset cost, and transfer of assets.

Depreciation Allocation - This process allocates asset cost and/or depreciation expense from Governmental Fund to Ownership Fund if applicable. Governmental funds account for one fiscal year of information and cannot own assets with useful life greater than one year. An ownership fund is a long-term account that represents the entity in which assets are maintained for governmental funds.

14

Generate GL Journals

Journal Generator (JGEN) processes posted accounting entry data from the Florida PALM source modules, summarizes the data, and creates journals in the General Ledger. The Journal Generator process will edit, budget check, and post the journal entries created during the process. Please see 10.2, Enter and Process Journals for more information on source module journal entries.

15

Outbound Asset Extract (AMI003)

Florida PALM provides an outbound file with data of asset additions, updates, transfers and disposals. The Outbound Asset Extract includes asset records that are marked as Fully Sensitive and asset records marked as Partially Sensitive.

AM06

Interunit Transfer of Fixed Asset

Agency A

Debit: Transfer Out (S)

Credit: Fixed Asset (S)

Debit: Accumulated Depreciation (S)

Credit: Transfer Out (S)

Agency B

Debit: Fixed Asset (S)

Credit: Transfer In (S)

Debit: Transfer In (S)

Credit: Accumulated Depreciation (S)

No Entry

Agency A

Debit: Transfer Out

Credit: Fixed Asset

Debit: Accumulated Depreciation

Credit: Transfer Out

Agency B

Debit: Fixed Asset

Credit: Transfer In

Debit: Transfer In

Credit: Accumulated Depreciation

AM07

Intraunit Transfer of Fixed Asset (e.g. Transfer from Organization Code A to Organization B)

Debit: Fixed Asset – Org Code B (S)

Credit: Fixed Asset– Org Code A (S)

Debit: Accumulated Depreciation – Org Code A (S)

Credit: Accumulated Depreciation – Org Code B (S)

Debit: Fixed Asset – Org Code B

Credit: Fixed Asset– Org Code A

Debit: Accumulated Depreciation – Org Code A

Credit: Accumulated Depreciation – Org Code B

R2

AMR023

Asset Depreciation Forecast Report – a report that shows the impact of calculating monthly depreciation expense and accumulated depreciation prior to actual recording of depreciation

PeopleSoft

Periodic

Agency

R3

AMR045

Asset Approval/Denial Report – a report of asset transactions that have been approved or denied.

Data Warehouse

Periodic

Agency

R4

AMR046

Pending Transfers Report – a report of transfers with issues pending resolution .

Data Warehouse

Periodic

Agency

R5

AMR022

Asset Transfer Report – a report of assets acquired or disposed of through transfer.

Data Warehouse

Periodic

Agency

AMI003

Outbound Asset Extract - Outbound asset extract file containing both physical and cost information.

On Demand

Florida PALM

Agency Business Systems

N/A

AMW004

Mass Transaction Manager Workflow - This electronic Workflow establishes an approval path for mass asset transfers including assets that require additional approvals outside of owning agency. This Workflow establishes an approval path for asset transfers, alert the receiving organization of the items being transferred, and sends assets received by the property custodian to the property fiscal agent for approval and completion of the asset records.

Agency, A&A

02/08/2024

Original Version