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Portfolio Inventory Evaluation and Audit
Portfolio Inventory& Evaluation
Real Property is one of the largest investments your organization will make.
For over 40 years, R&K Solutions unparalleled expertise has enabled our clients to develop and maintain an accurate real property inventory with data organized and displayed in a clear and usable format. Valid real property data allows critical analysis and decision-making to maximize facility utilization rates and derive the best value from scarce resources. From office buildings to parking lots, to cable vaults and pump stations, R&K has the knowledge and systems to identify, classify and analyze your real property.
Inventory is more than just counting.
Raw numbers are just a start. Over time, property acquisitions, modifications and disposals can render baseline information obsolete. Outdated or inadequate inventory is easily remedied and the cost can be recouped many times over with a clearer basis for future decisions. R&K collects the data from on-site surveys and existing records, verifies and corrects all supporting documentation, then consolidates and presents real property details in a format designed for easy use at all levels.
Based on results from a site survey, R&K can update databases and property records, and establish an effective real property inventory system. An accurate and readily accessible inventory can justify maintenance and sustainment budgets, acquisitions and disposals, and efficient space utilization.
R&K is a leader in conducting real property inventory surveys, validating supporting documentation and establishing inventory management systems.
R&K is a leader in conducting real property inventory surveys, validating supporting documentation and establishing inventory management systems. Whether you're a regional property management firm, a nationwide retailer, a university or community college, having an accurate inventory of real property is essential for describing leasable square footage, determining depreciation expense, proving ownership history, or justifying a budget request. R&K Solutions has the knowhow and tools necessary for accurately inventorying, recording and valuing your real property.
R&K provides similar services to federal organizations which operate leased or owned properties world-wide, containing a variety of office, industrial and utility features. R&K was selected to inventory real property at hundreds of locations, including tracing deed transfer history, capital improvements, disposals and valuation.
Real Property Inventory for Financial Improvement & Audit Readiness (FIAR)
Financial Improvement & Audit Readiness
Real property audit readiness requires that all existing facilities are accurately recorded in the inventory and that records match only facilities that actually exist. Our experience and significant expertise in this area assure all our clients of accurate and auditable survey results in compliance with Financial Improvements and Audit Readiness (FIAR) guidance.
Start improving your portfolio management with R&K
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Contract Examples
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Real Property Management Support for Washington Headquarters Service (WHS)
R&K provided onsite technical and subject matter expertise in established policies and procedures for real property management and maintainence of a Real Property Inventory (RPI). Responsibilities included maintaining auditable documentation and maintenance for inventory entries and developed condition ratings. R&K also forecasted sustainment and operations requirements and analyzed the facility degradation impact resulting from less than full funding. In compliance with the Chief Financial Officer's Act (CFOA), R&K developed and validated data requirements to successfully report accurate financial statements.
Defense Health Agency (DHA)
R&K reviewed, analyzed and updated the DHA inventory database, and provided an accurate assessment of DHA properties to include property discrepancies reports. Reconciled data comes from websites, existing and new Department of Defense databases, the real property inventories of the three Military Departments and the DHA internal inventory. Additionally, R&K maintained and reported all critical infrastructure information to the DoD components as well as validated, reconciled and reported on construction and demolition/disposal of real property.
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National Guard Bureau (NGB)
R&K ensured appropriate accountability for facilities in all fifty states, three territories and the District of Columbia. Services included policy, guidance, training, analysis, customer support and continuous data and documentation monitoring through quality control, and improvement. R&K integrated real property inventory, facility assessments and facility requirements into a comprehensive view of facility needs. Through training and direct customer support, R&K's mastery of the inter-dependencies, data sharing/transfers and relationships among multiple real property accountability systems (PRIDE, HQIIS, EDW, ISR, ASIP and RPLANS) ensured an accurate, comprehensive inventory.
The U.S. Marine Corps Forces Reserve (MARFORRES)
R&K validated real property inventory and facility maintenance/planning data at 180+ sites in the U.S. and Commonwealths. Work includes a comprehensive inventory validation, condition assessment, master planning, data review associated with National Environmental Policy Act (NEPA) considerations, space utilization, maintenance and repair funding issues and real property accountability responsibilities. This critical and time-sensitive work supported ongoing enhancements in real property management and mandated BRAC decisions regarding the realignment of Marine Corps Reserve Units.
The package of tasks included all aspects of inventory validation and documentation:
“Fence-to-fence” inventory, condition assessments, development of site maps, floor plans, and space utilization studies.Assistance with documentation for construction, special projects and site approvals.
Review of leases, permits, and inter-service support agreements to ensure congruence with the real property data and funding requirements.Quality assurance of data and documentation across multiple inventory systems. Subject matter expertise in policies on property management, use, inventory and the multiple related database systems.
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Headquarters, U.S. Marine Corps
R&K provided audit preparation and support in compliance with Financial Improvements and Audit Readiness (FIAR) guidance. This effort provided discovery and baseline evaluations for over 13,000 facilities in 18 months, and covered all aspects of the five financial management assertions to include: existence, completeness, rights/ obligations, presentation/disclosure, and valuation. R&K developed recommendations for process improvement with objective procedures, standards, and guidance for the inventory of real property.
U.S. Marine Corps
R&K performed the on-site physical inventory, financial cost accounting reviews, and real property inventory system updates for over 11,000 properties in Japan, Korea, California, Virginia and Arizona. R&K developed the schedule, processes, quality control/assurance procedures, and documentation necessary to comply Financial Improvements and Audit Readiness (FIAR) guidance.
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