Chapter 2 – Fiscal Management

22030.12 Property Management

• The property unit shall provide input data and maintain property inventory records on all items meeting the criteria for property accounting. From this data, department management shall be guided and assisted in the following:

  • Establishing equipment maintenance schedules.

  • Determining property inventory needs based on expected obsolescence or probable ending of its useful life.

  • Assisting budget staff in determining items to be budgeted.

  • Maintaining an accurate record of property held accountable to the department or unit.

  • Providing sufficient data to determine if there is surplus property and locations needing property.

  • Providing a sufficient data base to draw information for routine or special reporting.

  • Maintaining a functional inventory tool for all users.

• Stock Records

  • For departmental property inventory control purposes, unit stock records shall be maintained on all state-owned items that meet any of the following requirements:

    • Has a normal useful life of at least four years;

    • Has a unit acquisition cost of at least $500; or

    • Is defined as sensitive property.