N.Y. Comp. Codes R. & Regs. tit. 2 § 16.17

Current through Register Vol. 46, No. 39, September 25, 2024

Section 16.17 - Property records

(a) Every State department or agency should maintain a perpetual inventory of property and equipment purchased or otherwise acquired. All items of equipment should be numbered. The detail records should show the date of purchase or acquisition of each article of property, description, quantity, cost, identification number and location. Property or equipment retired or otherwise disposed of should be supported by official authorizations.

(b) A physical inventory should be taken of the various items of property and equipment not less than once each year and a comparison made thereof with the perpetual inventory records. Any resulting differences shall be investigated.

N.Y. Comp. Codes R. & Regs. Tit. 2 § 16.17