Reconciling FIMS to STARS

northcarolinasweekManagement

Nov 10, 2013 (3 years and 7 months ago)

73 views


Why do I need to reconcile these systems?


What resources will help me?


When do I exceed the capitalization
threshold?


When do I add assets to FIMS or STARS?


How could FIMS make this easier?


How could STARS make this easier?


May 22, 2013

2

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DOE Order 534.1B,
“Accounting”
incorporates

the DOE Accounting
Handbook, renamed the
Financial Management
Handbook



The Financial Management
Handbook, Chapter 10,
Section 2(l)

STARS

FIMS

1
o

system

1
o

system

May 22, 2013

3

“DOE organizations and
integrated contractors should
annually reconcile their real
and related property records
with summary financial
control records.” (FHM10.2(l))

Property Management Workshop


FIMS is the real property system of record.



STARS is a secondary financial system.



STARS depends on its subsidiary systems.



STARS must reflect FIMS.



Records in STARS are a subset of records in
FIMS.

May 22, 2013

4

Property Management Workshop


FIMS


User Guide, Appendix D,
STARS Asset Types


User Guide, Appendix G,
Section D


Standard Reports


060 Owned STARS
Information Report


074 Capital Adjustment Detail
Report


076 STARS Capitalization
Information Report


STARS


Financial
Management
Handbook,
Chapter 10,
Section 2(l)


PPE Best Practices
Guide

May 22, 2013

5

Property Management Workshop


Does it apply to the asset?


Yes



Does it apply to expenditures in support of the
asset?


Yes, specifically acquisition and improvement costs



Does it apply to maintenance and repair?


No, as these are “minor” and “periodic costs”



Are all real property assets capitalized?


No

May 22, 2013

6

Property Management Workshop


When do I add assets to FIMS?


Answer
:
Beneficial occupancy


When do I add assets to STARS?


Answer
:
Beneficial occupancy


To which system do I
first

add the record?


Answer
:
FIMS, that’s the system of record

May 22, 2013

7

“The acquisition cost of construction work in progress should be
closed to the completed PP&E categories when the equipment
and facilities
are placed in service

(that is,
beneficial
occupancy
) even if the entire project
is not financially completed
.”

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Require an
asset type

for each adjustment /
improvement.


Have standard reports 074 and 076
tally

by asset
type.


Disallow entry of
negative values

in
Initial
Acquisition Cost

and
Adjustment Cost
.


System populate the
Capitalized Indicator

for
each asset:


Y

-

When the sum of an asset’s costs equals or
exceeds the threshold in effect at the time of
acquisition.


N



When the asset does not pass the above test.


May 22, 2013

8

Property Management Workshop


Are expenditures or assets capitalized?


Answer
: In the fixed asset module, assets



Then . . . why reconcile on the asset type level?



STARS
needs

to track value on the asset level



. . . and practice needs to reflect guidance

May 22, 2013

9

Property Management Workshop

May 22, 2013

10

email:
ivan.graff@hq.doe.gov

Property Management Workshop