1. Fixed Assets Accounting http://www.virginia.edu/finance/finanalysis/prop.html

2. FAA Organization Gary Young – Director Malika Ouenza – Manager Plant Accounting Angy Seago - Manager ETF & Equipment John Wallace-Smith – Sr. Equipment Specialist Michael Williams - Inventory Specialist

3. Ruby Tues Burger King Home

4. What is a Fixed Asset ? Am I a FIXED ASSET ?

5. Example of a Fixed Asset Software Buildings Fabricated Equipment Equipment Vehicles Library Books Infrastructure

6. Definition of a Fixed Asset • Buildings, Land, Improvements, Leasehold Imp. or Infrastructure with UVA minimum threshold cost $250,000 and useful life greater than 1 year • Equipment and Vehicles with UVA minimum of $5,000 unit cost and useful life greater than 1 year • Major software applications with UVA threshold cost of $100,000 and useful life greater than 1 year • Library Books (exception – total aggregate of all library books significant and life greater than 1 year) • ETF Equipment (exception – Virginia’s SCHEV has lower threshold cost of $500)

7. Fixed Assets Accounting UVA $ 2.2 Billion (Land, Bldgs-500+, Equipment-24,000+, Library Books, Software) Wise $ 95.0 Million Southwest $ 1.0 Million

8. HOW DO WE COMPARE TO OTHERS ? (In $ Millions FY’06 Data) * Different capital thresholds and useful lives will affect values

15. Breakdown of $2.2B • Buildings $ 1.1 • Equipment .3 • Infrastructure .2 • Construction in Progress .2 • Imp. Other than Bldg .1 • Software .1 • Library Books .1 • Land .1

16. FAA Group Responsibilities • Accounting • Oracle Fixed Assets Module • Inventory Audit & Control • Financial Reporting • Sponsor Reporting • Policies & Procedures

17. IMPORTANT ISSUES • ETF Equipment • Coding Expenditures correctly • Cost transfers • Policy change – Releasing equipment to other universities • Policy change – Surplusing data sensitive equipment • Fabrications – equipment title must be UVA • Asset Impairments