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<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Arial","sans-serif"">Good morning Insurance Coordinators,
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<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Arial","sans-serif"">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
<span style="color:#1F497D">this month </span>and is to be completed by the end of the first week of March.
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<p class="MsoNormal"><b><span style="font-size:12.0pt;font-family:"Arial","sans-serif"">The following information and instructions will also be sent to your department director.
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<p class="MsoNormal" style="margin-left:9.0pt"><span style="font-size:12.0pt;font-family:"Arial","sans-serif""><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Arial","sans-serif"">Attached is 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 <span style="color:#1F497D">1</span>.<span style="color:#1F497D">7</span>5% inflationary factor to your existing business personal property values for FY 1<span style="color:#1F497D">5</span>. The inflationary factor
<i>is not applied to</i> <i>new acquisitions</i>. <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Arial","sans-serif""><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Arial","sans-serif"">Once your annual inventory of business personal property has been conducted, each agency’s insurance coordinator must complete and return the attached
<b><i>201<span style="color:#1F497D">5</span> Acknowledgement of Completion of Business Property Inventory</i></b> form via email to
<a href="mailto:joan.compton@adm.idaho.gove"><span style="color:blue">joan.compton@adm.idaho.gov</span></a>. Acknowledgement forms must be received by
<b><u><span style="color:red">March </span><span style="color:#1F497D">6</span><span style="color:red">, 201</span><span style="color:#1F497D">5</span></u></b><u><span style="color:red">.</span></u><span style="color:red">
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<p class="MsoNormal" style="margin-left:9.0pt"><span style="font-size:12.0pt;font-family:"Arial","sans-serif""><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Arial","sans-serif"">As always, we appreciate your assistance complying with this annual task. Should you have questions, please contact me at 332-1872 or by e-mail at
<a href="mailto:joan.compton@adm.idaho.gove"><span style="color:blue">joan.compton@adm.idaho.gov</span></a>.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:9.0pt"><o:p> </o:p></p>
<p class="MsoNormal" style="margin-left:9.0pt"><o:p> </o:p></p>
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<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>
<a href="mailto:joan.compton@adm.idaho.gov"><span style="font-size:10.0pt;font-family:"Arial","sans-serif"">joan.compton@adm.idaho.gov</span></a><span style="font-size:10.0pt;font-family:"Arial","sans-serif""><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif"">Work hours: 7:30am to 4:30pm</span>
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<p class="MsoNormal"><i><span style="font-size:7.5pt;font-family:"Arial","sans-serif"">Confidentiality Statement: This electronic message contains information from the Risk Management Program of the State of Idaho, Department of Administration, and is confidential
or privileged. This information is intended solely for the use of individual(s) or entity(ies) named above. If you have received this e-mail in error, please notify us immediately by telephone at 208-332-1872, or by e-mail reply and then immediately delete
the message. Thank you.</span></i><o:p></o:p></p>
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