Interagency Transfer of an Asset​

Introduction

Transferring an asset between agencies means that one agency gives an asset to another agency and could receive money for the asset. The agency giving up the asset is referred to as the "transfer out" agency and the agency receiving the asset is referred to as the "transfer in" agency.

  • The original amount, the original in-service date, and the original useful life of the asset are used by the "transfer in" agency.
  • The statewide book value is used by the "transfer out" agency. For this reason, the "transfer out" agency must make copies of the FAS 40 screen for use by both agencies.
  • If the “transfer in” agency is going to use the asset as parts (“cannibalizing”), it is not an interagency transfer of an asset. The “transfer out” agency would enter a regular disposal (DD1-DD4 or DS1-DS4). The "transfer in" agency would not enter a transaction in FAS.
  • If the original amount meets the $2,000 inventory threshold or the "transfer in" agency's minimum inventory level, the asset would be added using the instructions found in the Transfer In an Asset section found below.
  • If the original amount of the asset is $5,000 or more and only one of the agencies is on FAS, then the agency that is on FAS must record their side of the asset transfer. SCO Reporting and Review Bureau will be notified internally of these one-sided transactions.
  • If the original amount of the asset is $5,000 or more but neither agency is on FAS, then both agencies must report the asset transfer directly to the SCO Reporting and Review Bureau on the Fixed Asset Closing Package.

If you have questions, please contact the DSA Helpline​ for assistance.

Transfer Out an Asset

The agency transferring an asset out should dispose of the asset using the following steps:

1. Determine if the agency receiving the asset is going to use the asset or if they are going to cannibalize it for parts. If they are going to use it for parts, use the normal DD1-DD4 or DS1-DS4 disposal transactions and do not enter an interagency transfer.

2. If the transfer out agency receives cash for the sale of an interagency transfer of an asset, they record this as a deposit in STARS using a TC027.

3. The transfer out agency should delete the S01-S04 transaction from the FAS Hold File that is generated by the TC027, and re-enter the disposition of the asset directly in FAS as follows:

a. Make two copies (print screen or hard copy) of the FAS Property File (FAS Property Record Maintenance/Inquiry - S040 screen) before entering the disposition, and send one to the transfer in agency so they can record the transfer in of the asset.

b. At the FAS Main Menu, type 35 (FAS Direct Data Entry) and press ENTER.

c. Enter an A in the FUNCTION field to add a record to the FAS Hold File.

d. Enter the property number and component number in the PROP NO / COMP NO field. Confirm that the property and component number exactly match the record on the FAS Property File (S040 screen).

e. Enter the sequence number (usually 0001) in the SEQ NO field.

f. Enter the transaction code T01-T04 in the FAS TC field for the class code of the property number being disposed. Transaction codes T01-T04 include T01 (land), T02 (buildings), T03 (improvement other than buildings), or T04 (machinery & equipment).

g. Enter a status code D (for a full disposition) in the STATUS field.

h. Enter an Interagency Transfer Out (O) disposition method in the DSP MTH field.

i. Enter the Statewide Book Value of the asset in the ADT AMT field. This amount should equal the STWD BOOK VALUE of the asset on the FAS Property File (S040 screen).

j. Enter a three-digit number representing the percentage of the asset being disposed in the DISP % field. For a full disposition, enter 100.

k. Enter the disposition date in the ADT DATE field. This must be a date in the current month.

l. Enter the quantity of the asset in the QTY field. For a full disposition, the quantity should equal that of the asset in the FAS Property File (screen S040).

m. Other data elements are optional, depending on your agency requirements.

n. Press F1 or ENTER to post the record to the FAS Property File. Since the transfer in and transfer out must be processed at the same time, your agency will not have disposition-release authority (i.e., approval level 8) and 'INVALID APPROVAL LEVEL' message will be displayed. The status in the FAS Hold File record will be 'H'.

4. E-mail servicedesk@sco.idaho.gov requesting release of the T01-T04 transaction. Include the property/component number of the asset, and the agency name or number of the agency that is receiving the asset.

Transfer In an Asset

If your agency is going to use the asset for parts (“cannibalize”), it is not an interagency transfer of an asset and no action is required.

If you are going to use the asset intact, add the asset using the following steps.

​Be sure you have the copy of the FAS Property File (FAS Property Record Maintenance/Inquiry - S040 screen) from the “transfer out” agency before adding the asset.

1. At the FAS Main Menu, type 35 (FAS Direct Data Entry) and press ENTER.

2. Enter an A in the FUNCTION field to add a record to the FAS Hold File.

3. Enter the propert y number and component number in the PROP NO / COMP NO field. It does not need to match the other agency's property and component number on print screen S040.

4. Enter the sequence number (usually 0001) in the SEQ NO field.

5. Enter the transaction code in the FAS TC field for the class code of the property number being transferred in. FAS TCs include T11 (land), T12 (buildings), T13 (improvement other than buildings), or T14 (machinery & equipment).

6. Enter the status code in the STATUS field (e.g. U for In Use, S for Storage, etc.).

7. Enter the ownership code appropriate for your agency in the OWNRSHP field. It does not need to match the other agency's ownership code on print screen S040.

8. Enter the Original Amount of the asset in the ADT AMT field. This must equal the original amount shown on the copy of the S040 screen received from the transferring agency.

9. Enter acquisition method in the ACQ MTH field for an Interagency Transfer In (I).

10. Enter the class code in the CLS CD field as shown on the copy of the S040 screen received from the transferring agency.

11. Enter the acquisition date in the ADT DATE field. This must be a date in the current month.

12. Enter the appropriate condition code of the asset in the COND CD field.

13. Enter the quantity in the QTY field. If the asset is land or a building, enter the quantity unit (e.g., acre or sqft) in the QTY UNT field.

14. Enter the Original Inservice date in the INSRV DT field. This must be the same inservice date shown on the print screen (S040) received from the transferring agency, not when your agency received the asset.

15. Enter the Original Useful Life in the U LIFE field, as shown on the copy of the S040 screen received from the transferring agency. To change the useful life, please wait until after the end of the current month so that depreciation can process correctly.

16. Enter the replacement amount of the asset in the RPLC AMT field.

17. Enter the insurance indicator in the INS IND field. This will typically match the INS IND field on the copy of the S040 screen received from the transferring agency.

18. Enter the location 1 number for your agency where the item will be used in the LOCAT1 field.

19. Enter a current document number for the asset in the CUR DOC field. For interagency transfers in, you may want to use the property number of the asset for tracking purposes.

Other data elements are optional, and depend on your agency requirements.

20. Press F7 and enter the FUND, FUND DETAIL, BUDGET UNIT, and AMOUNT information into the FAS Direct Multiple Funding Sources (S036) screen.

21. If your agency tracks assets by PCA, Index, Grant and Phase, or Project and Phase, press F8 to go to the FAS Direct Optional Funding Sources (S36A) screen. Enter the fields that your agency uses.

22. Press F6 to return to the S035 screen.

23. Press F1 or ENTER to post the record to the FAS Property File. Since the transfer in and transfer out must be processed at the same time, your agency will not have disposition-release authority (i.e., approval level 8) and an 'INVALID APPROVAL LEVEL’ message will be displayed. The status in the FAS Hold File record will be 'H'.

24. Contact SCO Accounting Operations requesting release of the T11-T14 transaction. Include the property and component number of the asset, the agency name or number of the agency from which you received the asset as well as the property and component number from the copy of the S040 screen received from the transferring agency.