[Icoord] FW: Annual Inventory Process

[Joan Compton]

Agency 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 in January and is to be completed by the end of the first week of March 2019.

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 1.33% inflationary factor to your existing business personal property values for FY19.  The inflationary factor is not applied to new acquisitions.

Once your annual inventory of business personal property has been conducted, each agency insurance coordinator must complete and return the attached 2019 Acknowledgement of Completion of Business Property Inventory form to the Department of Administration via email to joan.compton at adm.idaho.gov<mailto:joan.compton at adm.idaho.gov>.  Acknowledgement forms must be received by March 8, 2019.

As always, we appreciate your assistance complying with this annual task.  Should you have questions, please contact Joan Compton at 332-1872 or joan.compton at adm.idaho.gov<mailto:joan.compton at adm.idaho.gov>.





Joan Compton, Risk Management Analyst
Dept. of Administration
Risk Management Program
650 W. State Street
Boise, Idaho 83720
208-332-1872
208-334-5315 - Fax
Work hours: 7:00am to 4:00pm
Joan.compton at adm.idaho.gov<mailto:Joan.compton at adm.idaho.gov>

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