Interunit Asset Transfer (40.2.2)

1

Transfer Agreement

Agency A and Agency B agree to the transfer of an asset. The transfer agreement could be mandated by law, written, or verbal agreement between two agencies.

2

Online Transfer Request

The Agency A – Agency AM Asset Processor uses the AM InterUnit Transfer function to initiate approval and execute inter-agency transfer of individual assets.

The transfer of assets marked as Fully Sensitive and Partially Sensitive must be initiated by users 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.

3

Inbound Asset Transfer & Disposal Request (AMI002)

The Agency A – Agency AM Asset Processor submits an asset transfer interface to initiate approval and execute inter-agency transfer of assets.

4

Initiate Approval Workflow (AMW002)

The AM approval workflow is initiated when the Agency A- Agency AM Asset Processor selects the AM InterUnit Transfer function or submits the Inbound Asset Transfer & Disposal Interface to Florida PALM.

After the workflow is initiated, Florida PALM assigns a Pending Approval status (in addition to the ‘In-Service’ asset status) to each asset record selected for transfer. The Pending Approval status prevents transactional updates to the asset record.

Florida PALM removes the Pending Approval status from the asset record if an approver within workflow denies the transfer request. Florida PALM also removes the Pending Approval status from the asset record after the last approver in the workflow process approves the transfer request.

5

Review For Approval

The Agency A – Agency AM Asset Approver reviews transfer requests and takes appropriate action. If Agency A – Agency AM Asset 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 transfer is approved by Agency A, and DMS approval is not required, the workflow approval request is routed to Agency B. The Pending Approval status remains on the asset record, and transactional updates remain restricted.

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

6

Review For Approval

If Agency A approves the transfer, and the asset is an automobile, aircraft, or watercraft, DMS reviews the transfer request, and determines appropriate action.

If DMS denies the transfer, Florida PALM removes the Pending Approval status from the asset record. Removal of the Pending Approval status reinstates the option to perform transactional updates, including resubmittal of the transfer request.

If DMS approves the transfer, the workflow request is routed to Agency B – Agency AM Asset Approver for review.

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

7

Review For Approval

The Agency B – Agency AM Asset Approver reviews the asset transfer request and takes appropriate action. If the request is denied, Florida PALM removes the Pending Approval status from the asset record. Removal of the Pending Approval status reinstates the option to perform transactional updates, including resubmittal of the transfer request.

If Agency B – Agency AM Asset Approver approves the transfer request, Florida PALM removes the Pending Approval status from the asset record and makes the records available for the Transaction Loader process.

AM Workflow Approval process provides notification to the transfer requester with a denial or approval decision.

8

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.

9

Transfer Asset

After successful completion of the Transaction Loader process, Florida PALM establishes a record of the transferred asset in Agency B with a new, agency unique Asset ID. 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.

10

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.

11

Complete Asset Transfer

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.

12

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.

13

Outbound Asset Extract (AMI003)

Florida PALM provides an outbound file with data of asset additions, updates, transfers and disposals.

The Outbound Asset Extract will include asset records 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

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

AMI002

Inbound Asset Transfer and Disposal Request - Inbound interface to request asset transfer and disposal approval.

On Demand

Agency Business Systems

Florida PALM

AMI003

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

On Demand

Florida PALM

Agency Business Systems

N/A

AMW002

Asset InterUnit Transfer Workflow – This is an electronic routing and approval process for asset interunit transfer requests. This workflow design aims to structure the approval process for assets to be transferred to another Agency within Florida PALM. This workflow standardizes the approval flow for the Agency and DMS users with an efficient and expedient process as requests are processed within Florida PALM.

Agency, A&A

02/08/2024

Original Version