Current through Register Vol. 48, No. 9, September 27, 2024
A.
Scope of Accountability System.
All donable property approved for transfer, and donable
property received, warehoused, and distributed by the State agency is accounted
for under a full accountability system that meets the requirements of Section
3-9-10,
South Carolina Code and Public Law 94-519, as amended.
B. Checking Property into SASP Custody.
(1) Verification of property. Shipments
received are verified promptly. Property is received in an area which is
separated from the rest of the distribution center in order that there will be
no possibility of mingling with other items available to the donees.
(2) Documentation. The shipment is physically
checked against the shipping documents and the "Application for Donation of
Surplus Personal Property" (Form 123).
(3) Record preparation. Identification tags
are prepared and attached to the individual items. The documents are signed by
the stock clerk and forwarded to the office where the inventory clerk prepares
the inventory record.
(4) Overages
and Shortages. Property received is verified by a physical count with the
Holding Agency's shipping document. The "Application for Donation of Surplus
Property" (Form 123) is also verified to the count of property received. A SF
123 will be prepared and submitted to the appropriate GSA regional office for
line item overages of $500.00 or more in accordance with FPMR
101-44.115.
(5) Recording and
reporting difference. If the count of property received does not agree with the
Holding Agency's shipping document, an overage and shortage report is prepared
and delivered to the Holding Agency by screener for reconciliation with PDO.
Over and short items not reconciled are reported to GSA regional office in
accordance with FPMR Paragraph 101-44.115. Differences between items listed on
Form 123 and the physical count are handled in the manner outlined above. Any
such differences are also reflected by the monthly "Report of Surplus Property
Received."
C. Periodic
Verification of Property on Hand.
(1)
Verification. The inventory or stock record cards are checked with the physical
count of inventory of personal property on hand once each year.
(2) Recording of difference. Any difference
between the stock cards and the actual count are reported to the distribution
center manager, who, after a thorough check as to their correctness, presents
these cards to the Surplus Property Officer for final determination.
(3) Reporting. Differences will be reported
as in (2) above.
D.
Inventory Adjustments.
(1) Report Form. Any
necessary adjustments to the inventory record cards will be noted on the
Inventory Adjustment form.
(2)
Reporting variations.
(a) The Inventory
Adjustment form will be presented to the Surplus Property Officer by the
distribution center manager for inspection together with the appropriate
inventory card. The Surplus Property Officer will sign those Inventory
Adjustment forms requiring adjustment or take other corrective
action.
(3) Adjustments.
Adjustments will be made after review by the Surplus Property Officer and
completion of the Inventory Adjustment form. The inventory record card will
reflect the necessary adjustments. Both records will be retained in appropriate
files in numerical order for a minimum period of three years.
(4) Written authority. The Surplus Property
Officer will authorize adjustments as outlined in (3) above. This will apply,
not only for annual inventory adjustments, but also for other necessary
adjustments as well.
(5) Disposal
of property of no value to program.
(a) In
accordance with the procedures and requirements of FPMR 101-44.205, property
will be reported to GSA for transfer to another state or disposed of by public
sale, destruction or abandonment.
(b) Appropriate records are maintained to
cover disposals described above.
E. Tracing Property from Receiving Document
to the Issue Document.
(1) Method. At the
time the inventory record cards are prepared, the state serial number of the
Form 123 and line item number is entered on these cards and the identification
tag which is attached to the item. When a pre-numbered warehouse issue sheet is
prepared, the state serial number and line item number is also entered thereon.
The warehouse issue sheet number and the date is noted on the inventory record
card. Each inventory record card bears only one state serial number. When the
items listed on an inventory record card are all issued, the card is filed in
an inactive file. In this way, property is readily traced from the receiving
document to the issue document.
(2)
Reference to exhibit of inventory of property card. For the use to which the
inventory card is put, see E(1) above.
F. Systematic Means of Determining Quantity
of Various Types of Property Donated to Individual Donees.
(1) Description of files for each donee.
Individual donee files are maintained on an annual basis which contain copies
of all warehouse issue sheets showing property issued, service charges, etc.
Separate files for $5,000 or over acquisition cost items and all passenger
motor vehicles are maintained (see Part X of the State Plan).
(2) Other records (if any) of property
donated to each donee. A correspondence file and an invoice file is also
maintained by donee.
G.
Accounting System.
The Surplus Property Service Fund utilizes basic accrual
accounting practices outlined in Governmental Accounting, Auditing and
Financial Reporting as compiled by the National Committee on Governmental
Accounting (1968).
On Deposit accounts are cash accounts with documented deposits
and withdrawals.
Accounts Receivable account has all billings and payments
received with net amount owed as a balance.
Buildings account has all expenditures for permanent
construction and additions to structures used at the Surplus Property
site.
Accumulated Depreciation-Buildings account has amount of
expiration of the useful life of the buildings using the straight-line method
with a twenty year base.
Office Equipment account has expenditures for non-expendable
equipment that is inventoried, tagged and accounted.
Accumulated Depreciation-Office Equipment account has amount of
expiration of the useful life using the straight-line method with a ten year
base.
Motor Vehicle Equipment account has amount of expenditure for
motor vehicle equipment.
Accumulated Depreciation-Motor Vehicle Equipment account has
expended amount of useful life using straight-line method with four year useful
life.
Allocated To/From State General Fund account has amounts
received or returned to the State General Fund from the Surplus Property
Service Fund.
Retained Earnings account shows accumulated amount of equity
retained in operations.
Revenue From Operations account shows amount of sales.
Expenses (cash) account shows amount spent for operating
costs.
Expenses (accrual) account shows amount applicable to
accounting period.
The accounts for the Surplus Property Service Fund is kept by
the Comptroller General of South Carolina and a corresponding ledger system is
kept by the Office of Internal Operations, S. C. Budget and Control Board.
Fixed asset accounts are kept also at the Office of Internal Operations, S. C.
Budget and Control Board where amounts for purchase of these assets are
maintained by source fund.
All accounts are periodically audited by internal auditors and
the State auditing staff to ascertain to the correctness of the Surplus
Property Service Fund as stipulated by GAAP standards.
The State Agency is furnished detailed operating statement and
balance sheet monthly, reflecting the current financial condition of the
Agency.
All accounting records are maintained at the central office of
the Office of General Services.
