STATEWIDE INVENTORY OF ASSETS

State Inventory Control Officer Larry Smith Mailing Address: Department of Central Services, Room 204-H1 2401 N. Lincoln Blvd. PO Box 53488 Oklahoma City, OK 73112 Telephone: 405-522-0474 E-mail Address: Larry_Smith@dcs.state.ok.us

State Inventory Statistics FY 2006

• Agencies served: 157
• Assets Reported: $1,881,156,862

General Information
Inventory of tangible assets owned by state boards, commissions, institutions, agencies, and the institutions comprising the Oklahoma State System of Higher Education and the University Hospitals Authority requirement.

Department of Central Services mandated to maintain current inventory of agencies and promulgate rules to implement statutory mandates, which include establishment of an inventory reporting threshold for each agency and the method to code, tag or mark inventory so it is readily identified as state property.

State Inventory Statutes and Administrative Rules
74 O.S. § 110.1; OAC 580:70 - Inventory Rules

Frequently Asked Questions

1. What is the threshold level at which I must report?
   Answer: Agency thresholds are $500 unless your agency, by permission, has a different set amount.
   
2. Must donated items be on the inventory list?
   Answer:  Yes, if greater than $500 in value.
   
3. When is the annual inventory report due?
   Answer:  August 15 - complete Inventory Model form (Finance Form 003)
   
4. What do I do with the left over parts from a cannibalized computer?
   Answer: All surplus property must be sent to State Surplus, 2530 W. Reno, Oklahoma City, (405) 525-2354, in accordance with State Surplus Property rules.
   
5. What do I do about an inventory item that is traded in on a new item?
   Answer: Complete a Surplus Property Transfer form (State Surplus Form 001) and specify that the item was traded in.
   
6. What do I do if we change agency inventory officers?
   Answer: Written notice of any information change must be submitted to DCS within 30 days of the change. Agency inventory officer's name and mailing address must be submitted to DCS by January 15 each year.