Overview
This article describes the structure and usage of the custom Fixed Assets report that began development in December 2024
Audience
University employees who are logged in
Information
The Fixed Assets report documented in this article is custom report developed to meet auditor requirements. The intent of the custom report is to eliminate the manual steps that were necessary to get the fixed assets reports out of Colleague to match the format required by the auditors. The report was delivered as an Informer Live Excel report, see the links below:
Below are some of the columns which are included in this report per the audit requirements but are not directly available in the Colleague Fixed Assets module.
- DOE Classification
- Shows the classification of the asset per DoE standards. This field contains values such as Capital Lease, Pre-Implementation, etc. This is a user maintainable field, we are using the FIX.INV.COND field for this purpose, which can be access by bringing the asset up on ASST, drilling down on the "Other Info" field to get to OFXM where the field is named "Condition"
- Source
- Shows the source of the asset per DoE standards. This field contains values such as BCB, PSE&G, FY23 Refinance, etc. This is a user maintainable field, we are using the FIX.ACQUIS.SOURCE field for this purpose, which can be access by bringing the asset up on ASST, drilling down on the "Restrictions" field to get to RESM where the field is named "Asset Acquisition Source"
- FY Net Depr
- A calculation done by this report, not stored directly in Colleague. This column shows the total depreciation on this asset during the fiscal year for which the report was run. Uses fields FIX.ALLOW.DATE and FIX.ALLOW.AMT for this calculation. Subject to backout adjustments, see note below.
- Accum Depr at FY End
- A calculation done by this report, not stored directly in Colleague. This column shows the total depreciation on this asset from its acquisition date thru the end of the fiscal year for which the report was run. Uses fields FIX.ALLOW.DATE and FIX.ALLOW.AMT for this calculation. Subject to backout adjustments, see note below.
- NBV at FY End
- A calculation done by this report, not stored directly in Colleague. This column shows the assets net book value as of the end of the fiscal year for which the report was run. This is done by subtracting Accum Depr at FY End from the original acquisition cost.
NOTE: In April 2022 several of the University's fixed assets were put up for sale. Typically an asset held for sale should no longer be depreciated, but these assets were mistakenly included in monthly depreciation for several months. Part of the logic of this custom report is to back out the depreciation that was applied in error. The backout depreciation is computed by subroutine S.XSPC.GET.DEPR.BACKOUT using data stored in fields FIX.USER1 and FIX.USER2 for the impacted assets.