Program Streamlines GASB 34 Compliance for Public Sector Entities

BOSTON – Real Asset Management International (RAMI) has announced the addition of Government4000, a suite of asset management tools designed specifically for governmental agencies and organizations. Tailored to the specific workflow and regulatory needs of these entities, Government4000 includes models for asset accounting, inventory tracking, lease management forecasting, project oversight, document retention, maintenance and helpdesk functions. RAMI (www.realassetmgt.com) is a leading developer of asset management solutions, with more than 3,000 organizations worldwide relying on its solutions.

“Effective asset management is integral to reliable financial governance and can also save money and streamline many aspects of an organization’s workflow and reporting processes,” according to Marcus Scholes, V.P. of Real Asset Management International. “But for organizations using spreadsheets to track and manage their assets, the process has become more of an art form as opposed to a science, requiring ever more time by financial staff. And time is an especially valuable resource, especially for government entities.”

As an automated asset management system, the comprehensive Government4000 suite provides organizations with a unified asset register that maintains all information related to an asset’s value, service condition and other issues , allowing various types of users to access only the information they need to do their job. This consolidated register ensures information accuracy, while enabling advanced forecasting and budgeting capabilities.

With the adoption of GASB 34 requirements in 1999, government entities have been under increasing pressure to provide greater information on the condition, location and value of their assets. Government4000 was specifically designed to help state, local and federal entities meet these and other compliance requirements, while also providing additional features to strengthen security and provide greater managerial oversight. The system also provides seamless links to the general ledger modules in leading accounting applications, including Oracle, Sage, JD Edwards, Microsoft Dynamics GP, Accpac, Coda and others.

Key among the features in the Government4000 suite are its ability to track all changes to all assets throughout their entire life cycle, asset location and condition tracking, a comprehensive audit trail, customizable user interfaces and data collection fields, and extensive scenario-based forecasting tools. Additionally, maintenance management functions simplify the tracking of preventive or unplanned maintenance tasks and work order generation, while inventory functions enable setting of reorder levels, offer user-defined analysis functions, and support hand-receipts functionality, a common requirement for government clients. Government4000 supports any number of users and can include remote access features for authorized personnel.

“The calls for greater financial responsibility in the public sector will continue to result in increased compliance and reporting compliance issues,” Scholes said. “Automating an agency’s asset management systems is a key aspect of strengthening its fiscal oversight, while also helping the organization run more efficiently.”

About Real Asset Management International
Real Asset Management International is a leading provider of fixed asset management solutions with more than 3,000 implementations in more than 70 countries. RAMI’s solutions enable organizations to determine and implement optimal accounting strategies, maintain compliance with federal and state taxation and perform asset budgeting and forecasting. Specialized modules include lessee asset accounting, capital project control, document management, inventory control, asset tracking, helpdesk support and maintenance management.

More information at: www.realassetmgt.com

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