Ill. Admin. Code tit. 44 § 5010.240

Current through Register Vol. 48, No. 49, December 6, 2024

Section 5010.240 - Definition of Required Entries

a) Identification Number

The identification number required for inventory records is the six-digit number previously submitted to CMS, or another numbering format compatible with the format used by CMS, marked on all items of State equipment.

b) Location Code Numbers

1) At least one location code is assigned to each State agency. Agencies must use the proper location code for reporting the location of equipment.

2) Location codes shall consist of a 10-digit number divided into three groups of digits separated by dashes. Example: 35001-001-02.

A) The first digit group (35001) shall be the same as the appropriation number assigned to the reporting agency by the Comptroller.

B) The next two groups (001) (02) shall be assigned by the reporting agency as required by the recording system. The system shall be subject to review by and approval of the Department based on the total number of items and types of equipment in a location code.

c) Description of Equipment

1) The inventory description of equipment shall be as brief as possible and shall not exceed a maximum of 41 characters (including spaces between words). If an object has a serial number, the serial number must be listed.

2) The inventory description shall be written in the following form: principal name of the property, necessary descriptive words and/or measurements, serial number. (Examples: Desk, executive, steel, gray, 30" x 58"; typewriter, IBM, #48-307-582)

3) If the equipment is at least 40 years old and has historic value or is of special interest culturally, scientifically or otherwise, the inventory description shall note that the property in question is antique.

d) Date of Purchase

1) The date of purchase of equipment shall be designated on inventory records by a four-digit number. (Example: For January 1975, 0175; only the month and year need be reported)

2) When the date of purchase is unknown, agencies shall report the number 9950.

e) Purchase Price

1) Agencies must report the purchase price of equipment inventoried. The purchase price is the price of the equipment delivered and installed (i.e., including delivery and installation costs, if any).

2) If equipment is acquired by trade-in, the value of any items traded in shall not be used to reduce the purchase price, except as otherwise provided in Sections 5010.320(i), 5010.700, 5010.730(c)(3), 5010.1100 and 5010.1240(a).

3) If equipment is acquired by gift, donation or any other means other than by purchase, the value of the equipment shall be reported as its estimated fair value.

f) Object Code

1) All equipment must have the object codes recorded on inventory reports.

2) The object code is a four-digit number that is the same number as entered on line 18 (expenditure object code) on the invoice voucher form. Object codes are also listed in Section 11 of the Statewide Accounting Management System (SAMS) Manual.

g) Voucher Number

The voucher number is the number assigned by the reporting agency to the invoice voucher used to acquire the equipment being reported. If the equipment was not acquired by an invoice voucher, or if the voucher number is not known, indicate all zeros. If the equipment was acquired as a gift, state "gift".

Ill. Admin. Code tit. 44, § 5010.240

Amended at 16 Ill. Reg. 17595, effective November 9, 1992

Amended at 43 Ill. Reg. 5637, effective 5/3/2019