CHECKS AND BALANCES OF SYSTEMS
INVENTORY TRACKING
– Tom Andrews, Mid-Ohio Regional Planning Commission
(MORPC)
Why is Inventory Tracking important?
• OMB Circular A-110 requirement
• Transparency (even when using Contractors)
• Reconciliation with other programs
• No “Double Dipping”
• But, why is Materials Accountability important?
Materials Accountability is an important part of managing
the WAP, because:
• It is one way of documenting the services provided to our
low-income customers.
• It also documents that the WAP program is properly using
and accounting for the government funds.
Areas where Material Variances may occur.
Field
Warehouse
Fiscal
• In the Field
• Installation
• In-Progress
• Damaged
Materials Installed
Materials In-Progress
Damaged Materials
• In the Warehouse
• Monthly Inventory Counts
• Final Inventory Counts
• Purchased Materials
• Coding of Materials
• New & Installed
Damaged,
Overage,
Shortage
Final Inventory for PY
Material Expenditure
• In Fiscal / Accounting / Bookkeeping
• Final Inventory Count
• Coding
• Coding
and (did I mention ?)
Coding
Final Inventory for PY
In-Transit Materials
Materials Installed
Material Expenditure
AVAILABLE MATERIALS
¾ Program Year Material Expenditures
¾ Previous Program Year Ending Final Inventory
¾ Previous Program Year Ending Material In-Transit
CURRENT
CHANGE
NEW
+
PY’08 MATERIAL
EXPENDITURE
$166,190
$0
$166,190
+
PY’07 FINAL
INVENTORY
$0
$0
$0
+
PY’07 MATERIALS-INTRANSIT
$0
$0
$0
=
AVAILABLE
MATERIALS
$166,190
$0
$166,190
MATERIAL ACTIVITIES
¾
¾
¾
¾
¾
¾
¾
¾
Program Year Materials Installed
Program Year Ending Materials In-Progress
Previous Program Year Ending Materials In-Progress
Program Year Ending Final Inventory
Program Year Materials-In-Transit
Program Year Cumulative Inventory Shortages
Program Year Cumulative Inventory Overages
Program Year Cumulative Inventory Damaged
+
PY’08 MATERIALS
INSTALLED
+
PY’08 MATERIALS INPROGRESS
$0
$1,914
$1,914
-
PY’07 MATERIALS INPROGRESS
$0
($3,189)
($3,189)
+
PY’08 FINAL INVENTORY
$0
$0
$0
+
PY’08 MATERIALS-INTRANSIT
$0
$0
$0
+
PY’08 CUMULATIVE
SHORTAGE
$0
$0
$0
-
PY’08 CUMULATIVE
OVERAGES
$0
$0
$0
+
PY’08 CUMULATIVE
DAMAGED
=
MATERIAL ACTIVITIES
CURRENT
$169,309
CHANGE
$0
NEW
$169,309
$0
$0
$0
$169,309
($1,275)
$168,034
VARIANCE
• MATERIAL ACTIVITIES
MINUS
• AVAILABLE MATERIALS
=============================
ACTUAL DOLLAR & PERCENTAGE VARIANCE
CURRENT
NEW
VARIANCE [ACTIVITIES –
AVAILABLE]
$3,119
$1,845
PERCENTAGE OF
AVAILABLE
MATERIALS
1.88%
1.11%
• PY’07 IN PROGRESS
ADJUSTMENT
•
•
•
•
•
•
•
•
•
$124.00
$149.20
$204.80
$ 34.00
$181.00
$434.16
$187.50
$296.68
$172.80
$219.76
$ 96.00
$139.01
$207.76
$742.28
• PY’08 IN PROGRESS
ADJUSTMENT
•
•
•
•
•
•
•
$469.77
$360.11
$288.38
$182.06
$230.35
$240.00
$143.61
Thank you for your time.
Tom Andrews
Mid-Ohio Regional Planning Commission (MORPC)
111 Liberty Street, Suite 100
Columbus, OH 43215
www.morpc.org