Statutes, codes, and regulations
Iowa Administrative Code
Agency 11 - Administrative Services DepartmentTitle V - GENERAL SERVICES
Chapter 110 - INVENTORY GUIDELINES FOR STATE OF IOWA PERSONAL AND REAL PROPERTY
Rule 11-110.6 - Inventory listing

Iowa Admin. Code r. 11-110.6

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Current through Register Vol. 47, No. 11, December 11, 2024
Rule 11-110.6 - Inventory listing

Personal property should be accounted for on an inventory listing. As applicable, the following minimum information must be presented on the inventory listing for each record of personal property:

1. Department.
2. Tag number.
3. Description.
4. Acquisition value.
5. Location(s).
6. Acquisition date.
7. Disposition date (not applicable until disposal of property).
8. The only depreciation method allowed shall be the straight-line method.
9. If the personal property is depreciated, the information must include the useful life of the asset.

Departments shall develop adequate internal control procedures that (1) identify individual(s) authorized to update and change the inventory records and (2) provide for an adequate segregation of duties between the recording and custody of property.

Iowa Admin. Code r. 11-110.6

Amended by IAB November 21, 2018/Volume XLI, Number 11, effective 12/26/2018