Louisiana Administrative Code › Title 34 - GOVERNMENT CONTRACTS, PROCUREMENT AND PROPERTY CONTROL › Part VII - Property Control › Chapter 3 - State Property Inventory › Section VII-307 - Items of Property to be Inventoried

Current through Register Vol. 50, No. 6, June 20, 2024
A. All items of moveable property having an
				"original" acquisition cost, when first purchased by the state of Louisiana, of
				$1000 or more, all gifts and other property having a fair market value of $1000
				or more, and all weapons, regardless of cost, with the exception of items
				specifically excluded in §307 E, must be placed on the statewide
				inventory system. The term "moveable" distinguishes this type of equipment from
				equipment attached as a permanent part of a building or structure. The term
				"property" distinguishes this type of equipment from "supplies" with supplies
				being consumable through normal use in no more than one year's time. All
				acquisitions of qualified items must be tagged with a uniform state of
				Louisiana identification tag approved by the Commissioner of Administration and
				all pertinent inventory information must be forwarded to the Louisiana Property
				Assistance Agency director or his designee within 60 calendar days after
				receipt of these items. In instances when equipment must be installed and/or
				tested before acceptance by the agency, the calendar days will begin upon
				official acceptance by the agency.
B. Gifts of moveable property must be given a
				fair market value as agreed upon between the donor and head of the receiving
				agency and recorded in the inventory if the fair market value is $1000 or
				more.
C. Agencies manufacturing
				moveable property for use within the agency must determine the estimated cost
				based on the cost of labor and materials and include such items in the
				inventory provided that estimated cost is $1000 or more.
D. Agencies which are eligible to receive
				federal surplus property must place on inventory all items acquired from
				Federal Surplus which would ordinarily be classified as moveable property and
				which have an acquisition cost of $1000 or more. The acquisition date will be
				the date of acquisition by the state agency and the acquisition cost will be
				the actual cost incurred by the state agency.
Note: There are federal regulations regarding accountability
				  for federal surplus property. State agencies should contact the Federal Surplus
				  Property Section for information regarding these regulations.
E. Livestock acquired for breeding, dairy,
				and experimental purposes are classified as property and, with the exception of
				fowl, and rodents, and any other similar type small mammals, must be recorded
				in the inventory regardless of the value per animal. Animals acquired for
				slaughter need not be placed on inventory. When an agency acquires livestock by
				birth and determination is made that such animals will be used for breeding,
				dairy, or experimental purposes, the animals shall be included in the inventory
				and noted as having been acquired by birth and given an appraised fair market
				value. At each annual inventory, the value of livestock acquired by birth and
				used for breeding, dairy, or experimental purposes will be re-appraised by the
				agency property manager and the acquisition cost will be adjusted on the
				inventory in accord with current fair market value. When an agency acquires
				livestock by birth and determination is made that such animals will be
				slaughtered for food, the animals shall not be included in the
				inventory.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  39:321 et
				  seq.