Louisiana Administrative Code › Title 34 - GOVERNMENT CONTRACTS, PROCUREMENT AND PROPERTY CONTROL › Part VII - Property Control › Chapter 3 - State Property Inventory › Section VII-313 - Annual Inventory Requirements

Current through Register Vol. 50, No. 6, June 20, 2024
A. The agency property manager shall conduct
				a complete physical inventory of the property owned by the agency each fiscal
				year and not more than 12 calendar months since the last physical inventory.
				The agency property manager is responsible for recording the true and actual
				results of the physical inventory.
B. The agency property manager shall notify
				the commissioner through the Louisiana Property Assistance Agency director in
				writing 30 days prior to the date(s) inventory is to begin. Agencies
				inventorying on a rotation basis shall submit their schedule and shall notify
				the commission through the Louisiana Property Assistance Agency director of any
				changes to be made in that schedule. The commissioner, Louisiana Property
				Assistance director, or their representatives, may supervise or observe all or
				any part(s) of any inventory.
C.
				Each agency property manager whose head of the agency elects to use Inventory
				Procedure I (§313. F) shall utilize the second half of the notification of
				inventory/request for printout to also request an annual printout of the
				agency's inventory master file. Additional requests will result in the
				assessment of a fee to cover costs.
D. The commissioner shall cause periodic
				observations of inventories and examinations of records to be made and shall
				cause reports submitted to the Louisiana Property Assistance Agency to be
				compared periodically with records of the agencies and with the physical
				property of the agencies for the purpose of testing the completeness and
				accuracy of inventories, records, and reports.
E. The head of the agency shall determine
				which of the two methods of inventory shall be used by the agency property
				manager in the annual physical inventory of the agency's property. The agency
				property manager shall be responsible for using the method determined by the
				head of the agency to be the best for the operations of his agency. Any
				procedure used other than the ones prescribed in these regulations (§313.
				F and G) must have prior written approval of the Louisiana Property Assistance
				Agency director or his designee.
F.
				Inventory Procedure
1. The agency property
				manager shall, under the direction of the head of the agency, select the
				date(s) most convenient to the operations of the agency, but not more than 12
				months since the last annual physical inventory.
2. The agency property manager shall complete
				and submit to the Louisiana Property Assistance Agency director or his designee
				the notification of inventory/request for printout at least 30 days prior to
				the date(s) inventory is taken.
3.
				The agency property manager, under direction of the head of the agency, shall
				designate the personnel who will conduct the inventory by areas indicated in
				the agency's property location index (§311 A).
4. A copy of the property location index
				shall be provided to each of the persons participating in the physical
				inventory. It shall describe the areas and the property location code each
				person is to inventory.
5. The
				agency property manager shall provide each person participating in the physical
				inventory a copy of the state master file listing printout of inventory for the
				agency covering the area or location to be inventoried.
6. The agency property manager shall instruct
				the persons participating in the inventory on the method to be used to:
a. identify and mark on the inventory listing
				the items located;
b. mark clearly
				on the inventory listing the items not located; and
c. conspicuously mark and report to the
				agency property manager those items found without a property tag. The agency
				property manager shall make a determination that the items should or should not
				be tagged and submitted to the state master file listing of inventory for the
				agency based on these regulations.
7. The physical inventory shall be taken on
				the date(s) pre-selected. The agency property manager shall notify Louisiana
				Property Assistance Agency director or his designee if, for some unforeseen
				reason, it is necessary to alter the date(s).
8. The agency property manager shall compile
				the true results of the physical inventory and shall submit a discrepancy
				report, (if applicable), to the Louisiana Property Assistance Agency director
				or his designee with a copy to the legislative auditor, containing all
				exceptions or discrepancies found in relating physical inventory results with
				the state master file lis ting of inventory for the agency.
9. The discrepancy report shall list each of
				the missing items by agency, tag number, description, location, acquisition
				date and acquisition cost, along with an explanation of what is believed to
				have happened to the items not located. The commissioner may cause an
				investigation to be made upon receipt of a discrepancy report, according to
				§301. B of these regulations.
10. Items not located during inventory for
				which there is no explanation available as to their disappearance must be
				retained on inventory and placed in a suspense location for three years. The
				location must indicate the year in which the item was first not located, (e.g.,
				"9989"). During these three years, efforts must continue to locate the missing
				items. If items are relocated, the proper location is to be transmitted for
				inventory purposes. If, after the third year missing items are still not
				located, a request to remove from inventory as "not located" may be submitted
				on a DABF-11 form (§501).
11.
				The agency property manager shall submit the Certification of Annual Property
				Inventory to the Louisiana Property Assistance Agency director or his designee
				with a copy to the legislative auditor, after the physical inventory and the
				state master file listing of inventory for the agency have been reconciled
				according to the regulations.