INTERIOR PROPERTY MANAGEMENT DIRECTIVES
410 ADDITION TO IPMD
| Section | Subject |
|---|---|
| 114-60.300 | Responsibility |
| 114-60.301 | Annual Physical Inventories |
| 114-60.302 | Special Inventories |
| 114-60.303 | Annual Inventory Reconciliation |
| 114-60.304 | Inventory Reports |
| 114-60.305 | Inventory Documents Retention |
The Accountable Officer is responsible for ensuring that prescribed physical inventories are conducted. The Accountable Officer may, however, delegate the conduct of the inventory to members of the property management staff, designated inventory teams, or to other employees within the Accountable Officer's area of responsibility. The nature of the operations and availability of personnel will generally dictate the method best suited to the individual office or location.
Physical inventories require that all items be identified by visual inspection to ensure the accuracy of the inventory data (description, serial number, model number, condition, system-controlled, capitalized, utilization, etc.).
114-60.301 -- Annual Physical Inventories
A complete physical inventory shall be conducted at least annually for the following categories of personal property:
(a) System-controlled,
(b) Stores Account expendable materials and supplies.
114-60.302 -- Special Inventories
(a) A physical inventory should be taken of all accountable property in the custody of an individual employee upon their transfer or separation (also see 114-60.206). A Report of Survey or Certificate of Unserviceable Property may be required for any items of property not accounted for at the time of transfer or separation in accordance with the provisions of Subpart 114-60.8.
(b) Special inventories may be required during audits; changes of Accountable or Custodial Officers, or other special circumstances. Whenever there is a change of Accountable or Custodial Officers, the procedures outlined in Subpart 114-60.203 or 114-60.204 for transferring accountability shall be observed.
114-60.303 -- Annual inventory Reconciliation
The results of the annual and special physical inventories shall be compared with the quantities recorded in accountability, responsibility, stores, and other records that are maintained for inventory management purposes. Any differences between the physical count of property on hand and the quantity balance reflected in the property records shall be promptly investigated to determine the causes of the differences and to identify necessary improvements in the process to prevent errors, losses, or irregularities. Property records and the related general ledger accounts shall also be brought into agreement based upon the results of physical inventories. Such adjustments shall be appropriately documented. Reconciliation and adjustments of the physical inventory of the property must be completed no later than September 30 of the calendar year.
114-60.304 -- Inventory reports
After completing the physical counting, reconciliation and adjustment process, the Accountable Officer shall certify in writing to the bureau/office PMO that the physical inventories have been completed and that subsidiary property records reflect actual quantities on hand.
PMOs shall certify in writing through their Assistant Director - Administration, to the Director, PAM, by October 31 of each calendar year, that their respective bureaus/offices have completed and reconciled physical inventories for all Accountable Officers.
In addition to the certifications, bureaus/offices at the central, regional or area office levels, may require that periodic inventory reports be submitted in detail, including the results of the physical inventory and the reconciliation with property and accounting records. An automated listing of property, or approved bureau/office form, may be used for reporting purposes and for recording the results of the inventory at the discretion of the head of each bureau/office.
114-60.305 Inventory Documents Retention
All annual physical inventory documentation, including notes and/or printouts used in the inventory process must be retained until the third succeeding inventory has been completed. The earliest records may then be removed from the files.