New Institutional Accounts (IACTS) to Track IT Equipment & Services

April 1, 2014

Budget Officers, Campus IT Leaders, Purchasing Listserv, GLDSS Listserv,

        WhoKey Owners, WhoKey Reviewers

Effective July 1, 2014 departments are required to use new institutional accounts (IACTS) which have been created to track IT equipment & services.  Departments should no longer charge purchases of IT equipment & services to the IACTS previously used.  The IACTS previously used will continue to be used for non-IT equipment & services.  We have made this change for the following reasons:

  • To improve tracking of IT hardware, software and service-related procurements
  • To improve reporting of spend information associated with IT equipment & services
  • To improve future routing of IT transactions for workflow approval
  • To improve compliance with IT security, networks and other IT standards and policies
  • To identify ways to eventually improve information being routed to staff responsible for inventorying and tracking computer hardware and software
  • To strengthen overall internal controls in response to audit findings related to the procurement of IT equipment & services

Please visit http://afr.fo.uiowa.edu/sites/afr.fo.uiowa.edu/files/ITIACCTSummary.pdf to find detailed definitions of each new IACT as well as updated definitions of existing IACT’s previously used.  Below is a summary listing of the new IACTS documented in the attached file.   You may begin using these IACTS as early as April 2, 2014 (except for 6731) but no later than July 1, 2014. 

  • 6081 - Computers & Smart Devices <$5K 
  • 6082 – Printers, Peripheral Devices <$5K
  • 6083 – Server, Networking, Data Storage Equipment <$5K 
  • 6407 – IT Software Maintenance & Fees 
  • 6204 – IT External Consulting & Professional Services
  • 6266 – IT Hardware Maintenance & Fees
  • 6223 – IT Outsourced Services
  • 6431 – IT Hardware Rentals and Leases Noncapital
  • 6731 – IT Equipment Capitalized >5k (available as of July 1st)

EPro applications and the ProTrav  system have been modified to be compliant with the new IACTs.   To ensure the correct IACT is charged, please review each transaction carefully and also manually update system  MFK Favorites.  Purchase orders will not be automatically updated to the new IACTS.  Departments will need to cancel the existing order and create a new purchase order.  If this is not done in a timely manner, please submit a change voucher after the payment has been made. 

The Accounting Code Manual (http://www.bo.uiowa.edu/~glaccman/index.cfm) will be updated to include current descriptions of each of the affected IACT’s beginning April 2nd (except 6731 which will be published July 1st).  If you have any questions that are not answered by this memo, the IACT change summary (http://afr.fo.uiowa.edu/sites/afr.fo.uiowa.edu/files/ITIACCTSummary.pdf) or the Accounting Code Manual, please contact one of the following individuals:

 

Selina Martin,  F&O, Controller’s Office (selina-martin@uiowa.edu)

Bob Stewart, HCIS (robert-stewart@uiowa.edu)

Lori Smith, ITS (lori-smith@uiowa.edu)