(Web copy of letter mailed to state agencies)
October 3, 2001
TO: State Agency Addressed
FROM: Dale Brunton, Director
SUBJECT: Capital Asset and Inventory Reporting
As the Division of Accounts and Reports approaches implementation of
Governmental Accounting Standards Board (GASB) Statement 34, changes to our
current procedures for reporting capital assets and inventory items (including
the separate land and building listings) are required. Significant changes in
capital asset reporting include:
- Form DA-87, Annual Capital Asset Reporting, will now be used to report
information regarding capital assets in your agency. This form will replace
Forms DA-80, DA-80A, DA-80B, and DA-80C that were previously used in
conjunction with inventory and fixed asset reporting. Instructions for using
this form can be found at http://www.da.ks.gov/ar/.
- Only equipment with a value over $5,000 and buildings with a value over
$100,000 should be reported on Form DA-87.
- Form DA-82, Certification of Inventory, will continue to be submitted by
all agencies. However, if your agency does not have any fixed assets with an
original cost of $5,000 or more, this form should still be completed and the
appropriate box checked.
- The entire cost of any assets acquired through a capital lease or the Master Lease Purchase
Program (which also includes the Facility Conservation Improvement Program, or FCIP) should
be added to the agency's capital asset records using Form DA-83 (or a similar form) at the
time of the original acquisition. This includes assets originally acquired in previous fiscal
years for which you are still making payments.
- New reporting requirements for capital leases and operating leases are
identified in Section IX of Form DA-87.
- Consumable supplies (previously reported on Forms DA-80 and DA-80C) are
now only reported when greater than $200,000 within the entire agency on
June 30th.
- If your agency holds title to any parcels of land or any buildings
(regardless of value), we have enclosed copies of the Land Inventory and the
Building and Improvements Inventory reflecting the information previously
submitted by your agency. Please review these reports and make the necessary
corrections to properly reflect your inventory as of June 30, 2001. All
corrections should be made on Form DA-84 and DA-86 as outlined in the
instructions found at http://www.da.ks.gov/ar/.
Please do not make the corrections directly on the printout.
The reporting deadline for inventory/fixed asset reporting has been extended
to October 31, 2001. All Certification of Fixed Asset Inspection Forms (DA-82),
Capital Asset Reporting Forms (DA-87), and the Land and Building Inventory Forms
(DA-84 and DA-86) should be submitted to the Division of Accounts and Reports by
that date.
Questions regarding this reporting process should be directed to:
Gail Barnhart (785) 296-7217
Gail.Barnhart@da.state.ks.us or
Gary Bond (785) 296-2287
Gary.Bond@da.state.ks.us
DB:JR
