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Purpose of Modification

Summary of Modification forFWRFAAX
FWRFAAX (Version 8.7.A) Personal property inflation percentage in 2008 is 1.36%. Real Property inflation percentage in 2008 is 7.56%. This OUS program increases/decreases the Insurance and Replacement values in all assets except attachments. Asset values in FFBAMST are updated by an inflation factor built into the program, and produces a control totals report listing the sum of the amounts changed. The process is run once per year (at fiscal year end). Inflation percentages for real property and personal property are derived from information provided through the Consumer Price Index. Version 6.0.a introduced a System Status code of "N" to identify non-Banner procured assets brought into the fixed asset system. In addition, the Asset Type code was changed to not equal "AE".
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