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<p class="MsoNormal">Agency Insurance Coordinators,<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">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 2020.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Attached is a copy of the Minimum Requirements for Maintenance of Business Property Inventory System to help you determine what items must be inventoried. (Please note that this statutorily required inventory process is not the same as
the property information required for insurance coverage and renewal.) Please apply a 1.05% inflationary factor to your existing business personal property values for FY20. The inflationary factor is not applied to new acquisitions.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Once your annual inventory of business personal property has been conducted, each agency insurance coordinator must complete and return the attached 2020 Acknowledgement of Completion of Business Property Inventory form to the Department
of Administration via email to <a href="mailto:max.george@adm.idaho.gov">max.george@adm.idaho.gov</a>.
<b>Acknowledgement forms must be received by March 6, 2020.</b><o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">As always, we appreciate your assistance complying with this annual task. Should you have questions, please feel free to contact me.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Regards,<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal" style="line-height:115%"><b><span style="font-family:"Arial",sans-serif;color:black">Max George</span></b><span style="font-family:"Arial",sans-serif"><o:p></o:p></span></p>
<p class="MsoNormal" style="line-height:115%"><b><span style="font-size:9.0pt;line-height:115%;font-family:"Arial",sans-serif">Risk Analyst<o:p></o:p></span></b></p>
<p class="MsoNormal" style="line-height:115%"><span style="font-size:9.0pt;line-height:115%;font-family:"Arial",sans-serif;color:black">Risk Management Program</span><span style="font-size:9.0pt;line-height:115%;font-family:"Arial",sans-serif"><o:p></o:p></span></p>
<p class="MsoNormal" style="line-height:115%"><span style="font-size:9.0pt;line-height:115%;font-family:"Arial",sans-serif;color:black">State of Idaho, Department of Administration</span><span style="font-size:9.0pt;line-height:115%;font-family:"Arial",sans-serif"><o:p></o:p></span></p>
<p class="MsoNormal" style="line-height:115%"><u><span style="color:blue"><a href="mailto:Max.George@adm.idaho.gov"><span style="color:blue">Max.George</span><span style="font-size:9.0pt;line-height:115%;font-family:"Arial",sans-serif;color:blue">@adm.idaho.gov</span></a></span></u><span style="font-size:9.0pt;line-height:115%;font-family:"Arial",sans-serif"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:9.0pt;font-family:"Arial",sans-serif;color:black">(208) 332-1848</span><o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><b><span style="color:#943634">Risk Management Mission: We protect Idaho State assets and employees by providing services and resources that minimize the risk of loss.</span></b><b><span style="color:#D99594"><o:p></o:p></span></b></p>
<p class="MsoNormal"><o:p> </o:p></p>
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