Deploy and Maintain Assets (40.2.1)
  • 08 Feb 2024
  • 8 Minutes to read
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Deploy and Maintain Assets (40.2.1)

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Article summary

Business Process Overview

The Agency AM Asset Processor and Agency AM F&A Processor possess security access to update asset records in Florida PALM. While the Asset Processor can update both cost and physical information, the F&A Processor is limited to updating only the cost details. Sensitive data updates require specific security roles. The Asset Processor collaborates with the Agency Asset Maintainer to verify asset physical status and manages asset records throughout their lifecycle, utilizing various statuses like In-Service, Disposed, Transferred, or Suspended, each affecting depreciation calculations. Assets may be stand-alone or grouped under parent-child relationships for ease of management. The Asset Processor also manages estimated useful life, asset cost maintenance, and change of ownership processes. Florida PALM automates depreciation calculation and core accounting processes based on asset transactions, facilitating accurate reporting and financial management. Additionally, outbound files provide comprehensive data on asset transactions, including sensitive records, for further analysis and reporting.

Business Process Diagram

Business Process Diagram for 40.2.1 Deploy and Maintain Assets

Business Roles

The Business Process Flow Diagrams use horizontal swim lanes to depict where activities are performed by different parties or systems. Each swim lane is titled with a role, either agency-based or within DFS, and in some cases, are representative of an external entity or system. The swim lanes may change from page to page within a single business subprocess as more or fewer roles are required to execute sections of the business subprocess. 

  • Agency AM Asset Processor: role responsible for creating and maintaining asset records in Florida PALM
  • Agency Asset Maintainer: (Non-Florida PALM role) role responsible for physical custody of an asset

Business Process Flows Details

The tables below describe steps in each business subprocess as reflected on the Business Process Flow Diagrams. The tables also reflect information associated with each step describing the intent of the specific process. Florida PALM screenshots are included within the sections to allow connections to be made from specific business subprocess steps to screens within Florida PALM. This information should be read in conjunction with the Business Process Flow Diagrams.

Process Step ID

Process Step Title

Description of Process

1

Update Asset Records in Florida PALM

The Agency AM Asset Processor and Agency AM F&A Processor are provided security access to perform online updates to asset records in Florida PALM.


The Agency AM Asset Processor updates the cost and physical information on an asset record.


The Agency AM F&A Processor can only update the cost information on an asset record.


When updating an asset record, the Sensitive Data dropdown list can be triggered and Sensitive Data Elements updated with proper security. The user must have the Agency AM Sensitive Asset Processor business role and the Sensitive Data Security (FLP_AM_SENS_PROCESSOR) system role to update a sensitive asset record.


2

Verify Physical Status of Asset

The Agency Asset Maintainer manages and controls physical maintenance of assets. The Agency AM Asset Processor consults the Agency Asset Maintainer to verify the physical status of assets and update the Florida PALM asset records accordingly.


3

Maintain Asset Status

The Agency AM Asset Processor uses the asset status to manage and control Florida PALM asset records from acquisition through disposal. The asset status in AM captures the actual status of the physical asset in terms of its ability to contribute to daily operation. Asset statuses include:

  • In-Service
  • Disposed
  • Transferred
  • Suspended


Asset statuses determine the reported asset book value because of their impact on depreciation.


An ‘In-Service’ status on a depreciable asset indicates depreciation is eligible. Depreciation of the asset begins as of the ‘In-Service’ date.


A ‘Disposed’ status on a depreciable asset dictates that depreciation is no longer allowed.


A ‘Transferred’ status on a depreciable asset allows depreciation by the transferee (agency receiving the asset). The asset is no longer eligible for depreciation by the transferor (the originating agency).


A ‘Suspended’ status on a depreciable asset indicates that depreciation is halted temporarily (used to manage lost or stolen items awaiting DFS write-off approval).


4

Maintain Asset Parent/Child Relationship

Some assets are recorded as stand-alone, while others are grouped for ease of processing and reporting. The parent/child relationship is a feature in Florida PALM that allows related assets to be grouped (e.g. Server, CPU with printers/displays). The Agency AM Asset Processor identifies the parent asset and associates the parent to the child from the Basic Add page.


5

Update Useful Life

The Agency AM Asset Processor updates the estimated useful life of an asset based on a revaluation of usefulness. This function determines depreciation calculation. The Agency AM Asset Processor updates the asset record from the Basic Add page.


6

Maintain Cost

The Agency AM Asset Processor updates asset cost information as needed. There are two types of cost maintenance: Additions and Adjustments. An addition establishes a new cost line that is displayed in addition to existing cost(s). An adjustment increases or decreases an existing cost.


7

Change Ownership

Change of ownership consists of asset transfers and disposals. The Agency AM Asset Processor uses the Inbound Asset Transfer & Disposal Interface or Online Transfer Request to initiate workflow approval of asset transfers and disposals. Asset transfers and disposals are executed in AM after final approval.


8

Update Physical Information

Physical information consists of non-accounting (non-financial) information such as asset class, asset description, or asset type. The Agency AM Asset Processor updates required changes in asset physical information from the Basic Add page.


9

Calculate Depreciation

If the asset is depreciable, 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


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


10

Complete Asset Transaction

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.


11

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.


12

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 marked as Fully Sensitive and asset records marked as Partially Sensitive.


Asset General Information Page, General Information Tab

Asset General Information Page, General Information Tab

Depreciation Calculation Run Control Page

Depreciation Calculation Run Control Page

Load Depreciation Reporting Table Run Control Page

Load Depreciation Reporting Table Run Control Page

Load Net Book Value Run Control Page

Load Net Book Value Run Control Page

Close Depreciation Run Control Page

Close Depreciation Run Control Page

Create Accounting Entries Run Control Page

Create Accounting Entries Run Control Page

Accounting Events

Accounting events originate during transaction processing in the applicable source module. The accounting events impact the source module, Commitment Control ledgers, and the General ledger (Actuals).

  • Source Module accounting entries require user input (I) of the primary line (i.e., expenditure, revenues) with an automated (A) system offsetting line (i.e., payable, receivable) during transaction entry. The source model transaction must pass Edit Check, Budget Check, and Cash Check (on applicable entries) prior to posting the transaction.
  • The Run Budget Check (Commitment Control) process automatically affects balances in the appropriate budget ledger (i.e., appropriation, spendable cash) if the transaction passes the budget check process.
  • After the transaction is posted in the source module, an automated system process summarizes and posts the entries in the General Ledger module to the Actuals Ledger.

The table below provides the most common accounting events applicable to this business process.

Acct Event ID

Accounting Event

Commitment Control Ledger(s) Impact

Source Module Accounting Entry

General Ledger (Actuals) Entry

AM05

Disposal of Fixed Asset

(e.g. Disposal by sales)

Disposal of Fixed Asset

Debit/Credit: Gain/Loss

Debit: Accumulated Depreciation

Credit: Fixed Asset

Debit: Accumulated Depreciation (S)

Credit: Fixed Asset (S)

No Entry

Debit/Credit: Gain/Loss

Debit: Accumulated Depreciation

Credit: Fixed Asset

Debit: Accumulated Depreciation

Credit: Fixed Asset

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

Reports

Key Reports are displayed as icons with the Report Number on this Business Process. The table below provides the reports identified to be produced at a particular process step or is used to support the completion of a process step.

Report Number

Report RICEFW ID

Report Description

Report Source

Report Frequency

Audience

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

Note: A complete list of reports may be found in the Reports Catalog.

Interfaces

The table below provides the Interfaces identified on the Business Process.

Interface Number

Interface Description

Interface Frequency

Source

Target

AMI003

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

On Demand

Florida PALM

Agency Business Systems

Note: A complete list of interfaces may be found in the Interface Catalog.

Forms

The table below provides the forms identified on this Business Process.

Form Number

Form Description

Audience

N/A



Workflows

The table below provides the workflows identified on this Business Process.

Workflow Number

Workflow Description

Audience

N/A



Version History

Date

Revision Description

02/08/2024

Original Version

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