Education to launch asset management tracking
- By Mary Mosquera
- Dec 01, 2004
The Education Department has awarded Sunflower Systems Corp. of San Ramon, Calif., a contract to track and manage all its accountable assets across the department.
Under the contract announced yesterday, Education will use the company's Sunflower Assets, which is designed to provide records to substantiate financial reporting, enable analysis for better use of the assets and maximize asset accountability. The purchase includes professional services.
The lifecycle asset management contract, which Education awarded Sept. 30, is for one year and is valued at over $700,000, the department said. Education will track assets, such as computers, office furniture, audio-visual equipment and books.
Lifecycle asset management tracks enterprise assets from the time that funds are obligated for an asset through transfers of accountability, inventories, financial accounting, capture of maintenance events, calculation of the total cost of ownership, excess and retirement. This includes fixed assets, intellectual property, hazardous materials, sensitive data, IT assets and accountable property.
Demand has increased for lifecycle asset management applications as a result of federal regulations and initiatives from the Joint Financial Management Improvement Program, Sarbanes-Oxley Act and Health Protection and Information Accountability Act.
Mary Mosquera is a reporter for Federal Computer Week.