- Only expenses that meet the equipment/software definition
should be charged to the Equipment subaccounts in the FAS
system. (Financial Policy
No. 1004.1)
- Equipment subaccounts can be found in the FAS Manual.
- The procedure for recording expenses for an item of constructed
equipment is as follows:
- At the beginning of the construction period, the department should
request the Property Management Section of the Comptroller's Office to
enter a description line on a unique 62XX subaccount that identifies the
item of constructed equipment.
This subaccount should be used to accumulate all of the charges for a
unique piece of constructed equipment.
- Property Management will assign an Asset/Tag number as part of the
subaccount description line for the piece of constructed equipment.
This will be the identifier for the entire piece of constructed equipment.
- At the end of each fiscal year, the Property Management section will
notify the department of the charges accumulated for each constructed equipment
subaccount for that fiscal year and assign a "Y" asset number.
The total project's asset number will be referenced as the asset that this
is "Part of".
- An acquisition date of June 30 will be assigned for the current
year's construction costs.
- Equipment operating leases are not added to property records.
They should be charged in FAS to Equipment Lease subaccounts.
Back to top of page.
|
