Current through Register Vol. 50, No. 9, September 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.
G. Inventory Procedure II
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 of the state master file listing of agency inventory at least 30 days
prior to the date(s) inventory is to be taken.
3. The agency property manager, under the
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 of the persons participating in the
inventory with the Inventory Procedure II form and instruct each concerning its
use.
6. The agency property manager
shall also instruct those persons participating in the inventory on the method
to be used to enter the agency number, tag number, and property location number
of each item of property physically located and to 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 item should or
should not be tagged and submitted to the state master file listing of
inventory based on these regulations.
7. The physical inventory shall be taken on
the date(s) selected. The Louisiana Property Assistance Agency director shall
be notified by the agency property manager if, for some unforeseen reason, it
is necessary to alter the dates.
8.
The agency property manager shall reconcile each of the completed true results
on the Inventory Procedure II forms with the state master file listing of
inventory for the agency.
9. The
agency property manager 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 listing of
inventory for the agency.
10. 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.
11. 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 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).
12.
The agency property manager shall submit to the Louisiana Property Assistance
Agency director or his designee the Certification of Annual Property Inventory
after the physical inventory results and state master file listing of inventory
for the agency have been reconciled in accordance with these regulations. The
agency property manager shall submit a copy of the certification of annual
property inventory to the legislative auditor.
AUTHORITY NOTE:
Promulgated in accordance with
R.S.
39:324,
R.S.
39:325,
R.S.
39:326,
R.S.
39:327,
R.S.
39:328 and
R.S.
39:332.
