Remove an Asset That Is Below Inventory Threshold Amount​

To remove an asset from the FAS system, but that is below the dollar amount threshold for inventory purposes (statewide minimum of $2,000)

 

  1. Open the FAS Direct Data Entry screen S035.

  2. Enter an A in the FUNCTION field.

  3. Enter the Property Number and Component Number.

  4. Enter a FAS TC (transaction code) DV4 - Inventory Taken Off FP Due to Value Below Threshold.

  5. The sequence number (SEQ NO) is usually 0001, so use that when entering the disposition on the FAS Direct Data Entry screen S035.

The other required data fields to complete for the FAS TC DV4 are:

 

  • STATUS - Status code D = Disposed.

  • DSP MTH (Disposal Method) - DSP MTH code V = Value Below Inventory Threshold.

  • ADT AMT (Acquisition Disposition Transfer Amount) - Use the Statewide Book Value (STWD BOOK VALUE shown on the FAS Property Record Screen S040) in the ADT AMT so it does not show a gain or loss.

  • DISP % (Disposal Percentage) - DISP % of 100 or the remaining percentage if previously partially disposed.

  • ADT DATE (Acquisition Disposition Transfer Date) - the date of disposition.

Release a Disposition Transaction

The person with disposition release authority (i.e., approval level 4 or greater) can process a disposition by doing the following:

  1. At the STARS Main Menu, type F in the FUNCTION field and press ENTER.
  2. Type 32 in the FUNCTION field and press ENTER to access the Hold File.
  3. Type R in theFUNCTION field.
  4. If necessary, type your agency number in the AGENCY field first. Most agencies will not have to do this. If you do not know the Property and Component Numbers, press ENTER.
  5. If you know the Property and Component Numbers:
    • Type the Property Number of the asset in the PROPERTY NO field.
    • Type the Component Number of the asset in the COMPONENT NO field.
    • Press ENTER. The asset will be the first in a list of records.
  6. If necessary, type N in the FUNCTION field, then press ENTER until you locate the asset you need.
  7. Type an S in the FUNCTION field then press TAB until you reach the space in the S/X column, next to the record. (The SRC column for the record will show an S if the record came from STARS or an 'F' if the record originated in FAS.)
  8. Type an S or an X in the space next to the record and press F1 or ENTER to open a record.
  9. Records that originated in STARS will open in the STARS Generated to FAS Data Entry (S033) screen.
  10. Records that were directly entered in FAS will open in the FAS Direct Data Entry (S035) screen.
  11. Review the record.
  12. If the record is correct, type a Y (Approve) in the FUNCTION field and press ENTER. The 'RECORD SUCCESSFULLY POSTED' message should display in the message screen and the status of the FAS Hold File record should display 'P', for posted.
  13. If the selected record is incorrect, exit the record. Notify the data entry person of the changes needed. Once the changes are made, open the record again and approve it as described above.
  14. If you have more than one record to release, type an N in the FUNCTION field and press ENTER to display the next group of records. Repeat the steps above until all held records have been successfully released.