La. Admin. Code tit. 34 § I-5322

Current through Register Vol. 50, No. 11, November 20, 2024

Section I-5322 - State Master Listing of Inventory

A. The using agency through its bonded property manager shall enter and maintain the equipment on the State Master Listing of Inventory (AM014) with an acquisition code of 6 (loan) and the classification code of 5262550 (LPFA Equip.-D of A) in the Classification Code column during the term of the lease. The using agency shall use its agency number assigned for property control and shall assign the respective tag number, if applicable. The acquisition date shall be the date the using agency receives the equipment. The acquisition cost shall be the actual cost of the equipment when purchased by the trustee bank. The item of property shall be fully and properly described in the Make and Model columns so as to facilitate identification during each annual inventory of movable property by the using agency.

B. Upon transfer of title of the equipment to the state, at termination of the lease term or at any time an option to purchase is elected, the acquisition code shall be revised to 0 and the identification code of 526255 shall be changed to the proper classification code for the piece of equipment in question. All other requirements of entering and maintaining the equipment on the State Master Listing of Inventory shall be as set forth in the State Property Control rules and regulations.

La. Admin. Code tit. 34, § I-5322

Promulgated by the Office of the Governor, Division of Administration, LR 12:234 (April 1986).

AUTHORITY NOTE: Promulgated in accordance with R.S. 39:1761-1771.