Capital Asset Management System (CAMS) Closing

 

At year end, Capital Asset Management creates a snapshot of all the university’s assets. This snapshot provides the status and location of capital assets as of June 30th which is used for financial reporting purposes and for federal and state audits. To ensure this information is as accurate as possible, please inform your capital asset representative of known asset location changes so updates can be made in KFS prior to June 30th.

In addition, all Asset Retirement, Asset Transfer, and Equipment Loan/Return Documents must be approved (not just initiated) on or before June 30, 2017. Any Retirement or Transfer document not approved by June 30th will be routed to Capital Asset Management to be held “for approval” until after final close.

To ensure that all initiated documents have been approved, run the Unapproved Documents in Inbox by Chart and Org report to view the pending documents for your organization. The report can be found in IUIE in Kuali Financial/Capital Asset Management System/Inventory Control Reports.

Capital Asset Document Type Codes are:

  • AT: Asset Transfer
  • ARG: Asset Retirement Global
  • ELR: Equipment Loan Return

If you have any questions or concerns, please contact Capital Asset Management at capasset@iu.edu.