Page 393 - FortWorthFY22AdoptedBudget
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B.  Ensure full departmental compliance with the established capital asset policy
                          in order to maintain adequate records of the City’s capital assets.

                       C.  Each department head  must appoint  a  Capital Assets  Coordinator  that has
                          knowledge and experience in capital purchasing and management of project
                          expenditures. Department Capital Assets Coordinator responsibilities include
                          but are not limited to:

                                 •  Attend the required AM100 training provided by the City of Fort
                                     Worth.

                                 •  Perform a monthly review of the department’s purchased, donated,
                                     and constructed assets added into PeopleSoft Asset Management
                                     (PSAM) and communicate with the Capital Assets Team regarding
                                     any discrepancies.

                                 •  Identify capital asset transfers, impairments, and disposals,  and
                                     provide the Capital Assets Team documentation within 30 days of
                                     the occurrence.

                                 •  Identify all constructed assets in use, and provide the Capital
                                     Assets Team documentation  within six months or before the
                                     current fiscal year ends, whichever comes first for capitalization
                                     (Refer to Section XIV).

                                 •  Review and update  the department’s non-financial asset
                                     information in the PSAM system.

                                 •  Coordinate  the department’s  review of the current capital  asset
                                     register and complete the Annual Physical Inventory for Capital
                                     Assets.

                       FMS responsibilities:


                          A.  The Capital Asset Team, Financial Services  Manager,  and  Assistant
                              Finance Director over  Accounting shall ensure that  all capital assets
                              belonging to the City are properly identified and recorded in the
                              PeopleSoft  General Ledger module and  that the PSAM module is
                              reconciled, at least monthly, to general ledger balances.







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