[Icoord] ANNUAL INVENTORY PROCESS -2015

[Joan Compton]

Good morning Insurance Coordinators,

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 this month and is to be completed by the end of the first week of March.

The following information and instructions will also be sent to your department director.

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 1.75% inflationary factor to your existing business personal property values for FY 15.  The inflationary factor is not applied to new acquisitions.

Once your annual inventory of business personal property has been conducted, each agency's insurance coordinator must complete and return the attached 2015 Acknowledgement of Completion of Business Property Inventory form via email to joan.compton at adm.idaho.gov<mailto:joan.compton at adm.idaho.gove>. Acknowledgement forms must be received by March 6, 2015.

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 joan.compton at adm.idaho.gov<mailto:joan.compton at adm.idaho.gove>.




Joan Compton, Risk Management Analyst
State of Idaho
Idaho Department of Administration
Risk Management Program
650 W. State Street, P.O. Box 83720
Boise, Idaho 83720-0079
208-332-1872
208-334-5315 Fax
joan.compton at adm.idaho.gov<mailto:joan.compton at adm.idaho.gov>
Work hours: 7:30am to 4:30pm

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.




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