Louisiana Revised Statutes 39:324 – Inventory of property
Terms Used In Louisiana Revised Statutes 39:324
- Agency: means any state office, department, board, commission, institution, division, officer or other person, or functional group, heretofore existing or hereafter created, that is authorized to exercise, or that does exercise, any functions of the government of the state in the executive branch, but not any governing body or officer of any local government or subdivision of the state, or any parochial officer who exercises functions coterminous with the municipality in which he performs those functions. See Louisiana Revised Statutes 39:2
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
A. Each property manager shall make a complete physical inventory of the property of his agency once each fiscal year. The agency shall establish and maintain a master file of the agency inventory of movable property. The master file shall contain the following information:
(1) A description of the property.
(2) The manufacturer’s serial number, if any.
(3) The description and location of the identification mark.
(4) The original cost of the property.
(5) The principal place where the property is housed, garaged, stored, or used.
B. The property manager shall keep the property master file updated by submitting to the commissioner of administration monthly all property transactions. The commissioner will furnish the agency a printout of these transactions, which will be maintained according to the retention schedule of records.
Acts 1983, No. 167, §1; Acts 1983, No. 167, §1.