<html xmlns:v="urn:schemas-microsoft-com:vml" xmlns:o="urn:schemas-microsoft-com:office:office" xmlns:w="urn:schemas-microsoft-com:office:word" xmlns:m="http://schemas.microsoft.com/office/2004/12/omml" xmlns="http://www.w3.org/TR/REC-html40">
<head>
<meta http-equiv="Content-Type" content="text/html; charset=us-ascii">
<meta name="Generator" content="Microsoft Word 14 (filtered medium)">
<style><!--
/* Font Definitions */
@font-face
{font-family:Calibri;
panose-1:2 15 5 2 2 2 4 3 2 4;}
/* Style Definitions */
p.MsoNormal, li.MsoNormal, div.MsoNormal
{margin:0in;
margin-bottom:.0001pt;
font-size:11.0pt;
font-family:"Calibri","sans-serif";}
p.MsoHeader, li.MsoHeader, div.MsoHeader
{mso-style-priority:99;
mso-style-link:"Header Char";
margin:0in;
margin-bottom:.0001pt;
font-size:12.0pt;
font-family:"Times New Roman","serif";}
a:link, span.MsoHyperlink
{mso-style-priority:99;
color:blue;
text-decoration:underline;}
a:visited, span.MsoHyperlinkFollowed
{mso-style-priority:99;
color:purple;
text-decoration:underline;}
span.EmailStyle17
{mso-style-type:personal-compose;
font-family:"Calibri","sans-serif";
color:windowtext;}
span.HeaderChar
{mso-style-name:"Header Char";
mso-style-priority:99;
mso-style-link:Header;
font-family:"Times New Roman","serif";}
.MsoChpDefault
{mso-style-type:export-only;
font-family:"Calibri","sans-serif";}
@page WordSection1
{size:8.5in 11.0in;
margin:1.0in 1.0in 1.0in 1.0in;}
div.WordSection1
{page:WordSection1;}
--></style><!--[if gte mso 9]><xml>
<o:shapedefaults v:ext="edit" spidmax="1026" />
</xml><![endif]--><!--[if gte mso 9]><xml>
<o:shapelayout v:ext="edit">
<o:idmap v:ext="edit" data="1" />
</o:shapelayout></xml><![endif]-->
</head>
<body lang="EN-US" link="blue" vlink="purple">
<div class="WordSection1">
<p class="MsoNormal" style="margin-left:9.0pt">Good afternoon, <o:p></o:p></p>
<p class="MsoNormal" style="margin-left:9.0pt"><o:p> </o:p></p>
<p class="MsoNormal" style="margin-left:9.0pt">In accordance with Idaho Code Section 67-5746, each agency is required to conduct an annual inventory for all business personal property which the agency owns or is responsible for whether under terms of any contract,
grant, or otherwise. The Department of Administration is responsible for verifying that each agency has completed its inventory. This annual process begins in January and is to be completed by the end of the first week of March.
<o:p></o:p></p>
<p class="MsoNormal" style="margin-left:9.0pt"><o:p> </o:p></p>
<p class="MsoNormal" style="margin-left:9.0pt">We have enclosed a copy of the <b>
<i>Minimum Requirements for Maintenance of Business Property Inventory System</i></b> to help you determine what items must be inventoried.
<i>(Please note that this statutorily required inventory process is not the same as the property information required for insurance coverage and renewal.)
</i>Please apply a two and one half percent (2.5%) inflationary factor to your existing business personal property values for FY 14. The inflationary factor
<i>is not applied to</i> <i>new acquisitions</i>. <i><o:p></o:p></i></p>
<p class="MsoNormal" style="margin-left:9.0pt"><o:p> </o:p></p>
<p class="MsoNormal" style="margin-left:9.0pt">Once your annual inventory of business personal property has been conducted, each agency insurance coordinator must complete and return the attached
<b><i>2014 Acknowledgement of Completion of Business Property Inventory</i></b> form to the Department of Administration via email to
<a href="mailto:joan.compton@adm.idaho.gove">joan.compton@adm.idaho.gov</a>. <span style="color:red">
Acknowledgement forms must be received</span> by <b>March 7, 2014</b>. <o:p></o:p></p>
<p class="MsoHeader" style="margin-left:9.0pt"><o:p> </o:p></p>
<p class="MsoNormal" style="margin-left:9.0pt">As always, we appreciate your assistance complying with this annual task. Should you have questions, please contact Joan Compton at 332-1872 or at the e-mail address provided above.<o:p></o:p></p>
<p class="MsoNormal" style="margin-left:9.0pt"><b><o:p> </o:p></b></p>
<p class="MsoNormal" style="margin-left:9.0pt"><b>Thank you</b><o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif"">Joan Compton, Risk Management Analyst</span>
<br>
<span style="font-size:10.0pt;font-family:"Arial","sans-serif"">State of Idaho</span>
<br>
<span style="font-size:10.0pt;font-family:"Arial","sans-serif"">Idaho Department of Administration</span>
<br>
<span style="font-size:10.0pt;font-family:"Arial","sans-serif"">Risk Management Program</span>
<br>
<span style="font-size:10.0pt;font-family:"Arial","sans-serif"">650 W. State Street, P.O. Box 83720</span>
<br>
<span style="font-size:10.0pt;font-family:"Arial","sans-serif"">Boise, Idaho 83720-0079</span>
<br>
<span style="font-size:10.0pt;font-family:"Arial","sans-serif"">208-332-1872</span>
<br>
<span style="font-size:10.0pt;font-family:"Arial","sans-serif"">208-334-5315 Fax</span>
<br>
<span style="font-size:10.0pt;font-family:"Arial","sans-serif"">joan.compton@adm.idaho.gov</span>
<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
</div>
</body>
</html>