Section R2-15-304. Materials Inventory Report and Submission of Contracts

A.      Each state governmental unit, at the end of each fiscal year, shall prepare and submit to the General Accounting Adminis- trator an inventory report of all materials warehoused or other- wise held by the unit, verified by a physical count and certified by the unit’s highest-ranking officer, which lists all of the fol- lowing:

1.        Nonexpendable materials (capital assets), capitalized in accordance with the state of Arizona Accounting Manual;

2.        Nonexpendable materials (capital assets) held under capi- tal leases and similar financial arrangements;

3.        Nonexpendable materials (capital assets) that have been, or will be, leased or rented for more than 90 days; and

4.        Other materials warehoused  or otherwise held by the units that are subject to the stewardship requirements of the state of Arizona Accounting Manual.

B.       The state governmental unit shall include and identify sepa- rately in the inventory report all real property, buildings, and other improvements to real property.

C.      The state governmental unit shall submit a copy of any signed capital leases and similar financial arrangements to the Gen- eral Accounting Administrator within 30 days of execution.

Historical Note

Adopted as an emergency effective January 1, 1985, pur- suant to A.R.S. § 41-1003, valid for only 90 days (Supp. 84-6). Emergency expired. Permanent rule adopted effec- tive April 3, 1985 (Supp. 85-2). Transferred from R2-7-

804  (Supp. 91-3). Amended effective April 2, 1993 (Supp. 93-2). Amended by final rulemaking at 10 A.A.R.

3267, effective September 24, 2004 (Supp. 04-3).