Tracking all of MFA Oil’s assets is a huge job and the fixed assets department is more than up to the task. With 120,000 propane tanks and 100,000 bulk tanks, the four individuals who make up the department play a major role in ensuring company operations run smoothly.
The fixed assets team’s responsibilities revolve around managing the company’s tanks records, including installations, transfers and disposals. In order to keep records accurate and up-to-date, department members are constantly playing a balancing game between EnterpriseOne (E1) and POS as the company transitions between the two systems.
“All of our asset records are maintained in E1, but the company is still using the POS system for much of our fuel sales information in the field,” says Veronica Bullock, fixed assets supervisor. “We are constantly in communication with customer service representatives and managers to ensure our information in E1 matches up with the POS system.”
Billing tank rent is an important component of the tank recordkeeping process. The department checks that accounts with a rental fee are still active and ensures that inactive accounts are resolved. If the tank billing records, totaling $2,323,403.38 this year, are not maintained, then the correct customers are not charged and a large chunk of money in the company is mishandled. The department also ensures leak tests are properly noted in the paperwork for new tank installations, which helps maintain safety protocols.
“A strength of the fixed assets department is maintaining consistency in everything they do,” says Sandy Cryderman, revenue accounting director. “Tracking all of the company assets can be tricky if each bulk plant records their inventory differently. The department has to ensure all of the information is documented accurately and consistently for each asset.”
In addition to tank recordkeeping, the department regularly manages other asset functions, including recording depreciation, completing personal property tax assessments and managing part of the company’s budget. Bullock says keeping up with all of this information requires a full team effort.
“We divide the responsibilities of recording assets on the bulk and propane plants, the service and operations groups, Jiffy Lubes and the Break Time stores among the department’s staff,” Bullock says. “However, everyone has a hand to play in properly recording paperwork on tanks and mileage on the company’s fleet of vehicles.”
Over the years, the fixed assets department has made several changes to improve its recordkeeping procedures.
“We have streamlined several processes related to recording tank information,” Bullock says. “Much of it is done online now, which makes things simpler.”
With hundreds of thousands of tanks to track and many other company assets to manage, the fixed assets department stays on top of it all through constant communication and an organized system.
Get to Know the Fixed Assets Department
Veronica Bullock
fixed assets supervisor
Originally from Columbia, Veronica completed her undergraduate degree and MBA program through Capella University. She has been with MFA Oil for nine years, starting as a BP/LP credit coordinator, then moved to field support before finding a spot in fixed assets. Veronica is married and has six children.
Where has been your favorite family vacation destination? California.
What kind of music do you like? Country.
What one word would your family/friends use to describe you? Dedicated.
Megan Breidenstein
senior fixed assets administrator
Originally from Aurora, Mo., Megan graduated from Columbia College with a Bachelor of Science in Art. Before working at MFA Oil, she worked as an autism specialist with Easter Seals Midwest Autism Services. Megan has worked with the company since November 2014, first in a temporary position and then moving on to a permanent role. Megan is married and has one daughter.
What one word would your friends/family use to describe you? Funny/hilarious.
What is your favorite holiday? I really don’t have one, but my daughter says I should say Christmas.
Where has been your favorite family vacation destination? Disney World. We went last year and have planned our trip for this year. We had so much fun.
Lynn Edinger
fixed assets clerk
Before joining MFA Oil last year, Lynn worked in the University of Missouri Journalism Department, MU Health and at several churches across the country. Originally from Albany, N.Y., Lynn graduated from Augustana College and Emory University.
What kinds of music do you like? Jazz and other types of instrumental music.
What is your biggest pet peeve? People who are rude and think only of themselves.
Where is the most interesting place you’ve traveled? Florence, Italy and Berlin, Germany.
Amanda Hannah
senior fixed asset administrator
Amanda has lived in Columbia for most of her life and has two children, a daughter and a son. Before joining MFA Oil three years ago, Amanda worked at a staffing agency for nurses, as an HR coordinator and in payroll. At MFA Oil, Amanda started in Break Time accounting before moving to the fixed assets department.
What accomplishment are you most proud of and why? My greatest accomplishment is raising two great children. I have a 9 year old son and a 16 year old daughter.
What’s on your bucket list? Traveling anywhere I can (must go to Italy), skydiving, taking a photography class and a glass blowing class.
What three words would you use to describe yourself? Humorous, open-minded and ambitious.