260 R1 Property Mgmt Inventory Control052909

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					Pacific Mountain Workforce Development Area
Workforce Investment Act Policies and Procedures

NUMBER:       260

SUBJECT: Property Management and Inventory Control


APPLIES TO:         PMWDC/PMWC Contractors

UPDATED:            May 29, 2009

CHANGES:            Dollar Amounts; Time Frame; Contact Information


Original Effective Date: July 1, 2000

Policy:

This Policy Describes Requirements for the Management and Inventory of Property
Other Than Real Property (i.e. land, buildings).

Property:
    Personal property purchased with public funds.

Capital Assets:
   Property not an integral part of a building;
   Property with a unit acquisition cost in excess of $5,000;
   Property having a useful life of more than 4 years.

Equipment:
   Property not an integral part of a building;
   Property with a unit acquisition cost over $1,000;
   Property with a useful lifespan of 3 years

Small Attractive Items:
   Equipment with a unit acquisition cost of $500 or more;
   Of a type deemed by the Property Manager to be more likely to be taken or
      disappear if not closely monitored;
   Have a useful life of more than 2 years.




PMWDA Policy 260                          1
Updated: 5/29/09
Inventory Records:

      A database shall be maintained for Capital Assets, Equipment and Small
       Attractive Items for the purpose of:
               - Identification;
               - Historical purchase details, if available;
               - Location;
               - Date of the last physical inventory.
      Upon acquisition of property, the Property Manager shall cause the new item to
       be added to the inventory database.
      Other items, as deemed appropriate by the Property Manager, may be added the
       inventory database.
      Property may be removed from the inventory by the Property Manager when it
       has exceeded its useful life or has been disposed of.
      Property specifically acquired for or repurposed for the exclusive use of another
       entity (i.e. WIA Contractor, Economic Development Council, Chamber of
       Commerce, etc.) shall be maintained on this inventory if the value of the
       individual item at the time is transfer is over $5,000 as determined by the
       property manager.
      Property specifically acquired for or repurposed for the exclusive use of another
       entity (i.e. WIA Contractor, Economic Development Council, Chamber of
       Commerce, etc.) shall not be maintained on this inventory if the value is under
       $5,000 at the time of transfer as determined by the property manager. The
       receiving entity shall consider the item a part of their inventory.

Tagging of Inventory:

      After acquisition of an inventory item, it shall be tagged in an easily seen location
       on the item using a State-provided WIA Property Tag (or the old JTPA Property
       Tag).
      If a Property Tag has been removed, it shall be re-tagged and identified under
       the new tag number in the inventory database.

Annual Physical Inventory:

      The Property Manager shall cause a physical inventory to be made of all items
       on the inventory.
      The date of the physical inventory and the initials of person conducting it shall be
       posted to each item’s inventory record.




PMWDA Policy 260                             2
Updated: 5/29/09
Disposition of Property:

      Any property:
             - That is broken or unusable may be disposed of in an appropriate
             manner.
             - In poor but useable condition: may be surplused through Thurston
             County.
             - In good condition: May be offered to WIA Contractors, other Workforce
             Development Areas and other Thurston County Departments, or may be
             surplused through Thurston County.
             - May also be traded-in to a vendor for credit on a similar type
             replacement.
             - May be sold and the proceeds reported as program income.

      Equipment and Small Attractive Items may also be disposed of in a manner
       appropriate to the item.

EQUAL OPPORTUNITY:
The PMWDC is an equal opportunity employer and provider of employment and training
services. Auxiliary aids and services are available upon request to persons of disability.

INQUIRIES:
       Julie Shriver, Accounting Assistant 3
       Pacific Mountain Workforce Consortium
       1570 Irving Street SW
       Tumwater, WA 98512
       Email: jshriver@pacificmountainworksource.org
       Phone: (360) 570-4244
       Fax: (360) 704-6444
       TTY: (360) 570-4253




PMWDA Policy 260                            3
Updated: 5/29/09

				
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