He announced that SPA staff has created a top 10 ACR list, which will be sent to agencies. Joe asked that the group think about depreciation. Bonnie asked if we should start a task force on depreciation, and the members agreed. It was also suggested that Disposal Code 22 be used to track property that is issued as part of the client assistance program. The group discussed various methods of verifying inventory among state agencies.
Independence is a key consideration when planning an inventory of property.
It has various advantages, especially for large agencies, but has the disadvantage of not being able to certify that the inventory was done in the shortest time possible. In an alternating-year approach, a complete physical inventory would be taken every other year, with a statistical inventory in off years. This might be something we could do in future. Mike Hay is open to statistical sampling, provided there is reasonable assurance that the sample is representative of the agencies' assets. About 10 percent is considered a standard sample for confirming the validity of property records.