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STATE OF CONNECTICUT |
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NANCY WYMAN
COMPTROLLER |
OFFICE OF
THE STATE COMPTROLLER
55 ELM STREET
HARTFORD, CONNECTICUT 06106-1775 |
MARK OJAKIAN
DEPUTY COMPTROLLER |
MEMORANDUM NO. 2000-17
April 7, 2000
TO THE HEADS OF ALL STATE AGENCIES
Attention: |
Agency Heads, Chief Fiscal Officers and Business Managers |
Subject: |
Annual Inventory Report of all Real and Personal Property |
I. AUTHORITY
- Section 4-36 of the Connecticut General Statutes states: "Each state agency
shall establish and keep an inventory account in the form prescribed by the comptroller,
and shall, annually, on or before August first, transmit to her a detailed inventory, as
of June thirtieth, of all of the following property owned by the state and in the custody
of such agency: (1) real property, (2) personal property having a value of one thousand
dollars or more and (3) personal property having a value of less than one thousand dollars
and defined as 'controllable property' in the property control manual published by the
comptroller."
II. DUE DATE
- As prescribed by the statute, agencies must transmit this report to the State
Comptroller on or before August 1, 2000.
III. REPORTING REQUIREMENTS
- Refer to the State Comptroller's Property Control Manual, Chapter X. The required
reporting forms are enclosed:
- CO-59 Fixed Assets/Property Inventory Report/GAAP Reporting Form (Rev. 4/98)
- CO-648B Summary Motor Vehicle Report (Rev. 7/94)
- Tabulated Listings of Land and Buildings
- Property Control Questionnaire (Rev. 4/00). Follow this
hyperlink to the online form.
A. CO-59 FIXED ASSETS/PROPERTY INVENTORY REPORT/GAAP REPORTING FORM
Cost (Value) Data Section
- The ending property balances from the previous year's CO-59, column 5 are recorded as
this fiscal year's beginning balances in "Last Year's Balance" column #2.
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- Record all property additions for the fiscal year in the "Additions"
column #3 at the property's original cost if purchased or fair market value if donated or
transferred. Additions should include transfers from the State and Federal Property
Distribution Center.
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- Buildings acquired as gifts must reflect in the "Additions" column the
estimated fair market value at the time of acquisition plus any costs incurred in
obtaining the property. If the information is not available, an agency can obtain it from
the assessor's office in the town where the property is located.
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- Record all property deletions for the fiscal year in the "Deletions"
column #4 at the original cost or value of the property when it was placed on the
inventory listing. Deletions should include property scrapped, lost, and transferred to
the State and Federal Property Distribution Center.
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- Any real property sold, transferred or demolished should be reflected in the "Deletions"
column. The deletion amount should reflect the original acquisition cost if purchased or
the fair market value if acquired by donation.
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- The "Current Balance" column #5 is the cost or value column for all
property held by the agency at fiscal year end. Last year's balance plus any additions,
less any deletions must equal this column.
Current Value Section
- The "Present Value This Year" column #6 for the Real Property Section
is the "Building Value" reported on the tabulated listing of buildings.
This "Building Value" reflects an increase of 2% for 1999.
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- The "Present Value This Year" column #6 for the Personal Property
Section should reflect the appraised value or book value for the exceptional items and
fine arts categories.
B. TABULATED LISTINGS
- Land - All new acreage listed must reflect a cost or value.
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- Buildings - All new buildings listed must reflect a cost or value.
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- The building fire codes must be corrected and/or added to the buildings tabulated
listing. See pages 9 through 12 of the Property Control Manual for building fire codes.
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- Agencies must make additions, deletions or corrections on the tabulated listings
in RED.
C. RECONCILIATION
- The totals on all detailed reports must equal the summarized totals on the CO-59.
IV. GENERAL INFORMATION
- Public Act 98-42 revised Section 4-36 of the Connecticut General Statutes. The change
requires agencies to include in the inventory transmitted to the Comptroller Apersonal
property having a value of less than one thousand dollars and defined as controllable
property in the Property Control Manual published by the Comptroller. Agencies must attach
a list of the types of items being controlled to the CO-59. See pages 34 and 35 in Chapter
6 of the Property Control Manual for a discussion of controllable property.
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- The canary copy of the CO-59 must be sent directly to the Accounting Services Division
of the Comptroller's Office, 55 Elm St., 6th floor, Hartford, CT.
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- The white copy of the CO-59 with a copy of each of the other forms must be sent directly
to the Management Services Division of the Comptroller's Office, 55 Elm St., 1st floor,
Hartford, CT.
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- The Property Control Questionnaire must be sent directly to the Policy Services Division
of the Comptroller's Office, 55 Elm St., 2nd floor, Hartford, CT.
V. QUESTIONS AND FORMS
- For questions regarding the completion of the CO-59, please contact Michael Misiewicz at
(860) 702-3427 or Carol Hagstrom at (860) 702-3437. If additional forms are required,
please contact James Corsair at (860) 702-3347.
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NANCY WYMAN |
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STATE COMPTROLLER |
NW:CH
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