OFFICER shall mean any person that the state agency or university reports
in writing to the State Property Office who has designated responsibility
as its property officer. The property officer shall submit regular
reports to the State Property Office.
defined as all furniture, vehicles, equipment and other personal property
having a useful life expectancy of at least one (1) year and the cost is
$1,000 or more. It does not include carpeting (excluding area rugs),
draperies, plants, installed floor-to-ceiling partitions, window shades
or blinds, mattress/box springs, water heaters, installed drinking fountains,
museum acquisitions, library books, film or archival collections.
All items under $1000 value are not required to be placed on inventory,
excluding exception items. However, they are required to have an
agency or university sticker applied.
OFFICE shall mean the Division of Property, which is a department of
the Office of the State Auditor located in Jackson, Mississippi.
Its function is to enhance the credibility of the statewide information
being reported by agencies and universities to the State Auditor.
FORM 873 is
a form prepared by the Purchasing and/or Property Department requesting
authorization to dispose of property by methods of transfer, sale or trade
by state agencies and universities. A signed receipt for property
sold, traded-in or transferred must accompany Form 873.
is a report prepared by the University Property Office requesting authorization
to salvage and/or delete property which has become obsolete, worn out,
non-usable, and of no value to a state agency. Form PSR-961 must
be accompanied by a notarized affidavit, law enforcement entity’s report
and a NCIC report when property is lost or stolen.
FORM CP2 is
a report prepared by the University Property Office requesting authorization
to salvage and/or delete computer or telecommunications related property
which has become obsolete, worn out, non-usable, and/or of no value to
a state agency. Form CP2 must be accompanied by a notarized affidavit,
law enforcement entity’s report and a NCIC report when property is lost
is a written statement notarized by a notary public detailing the loss
shall include portable and temporary building structures and will be included
on inventory regardless of the purchase price. Cost shall include
all labor, material and professional services to construct together with
insurance, interest and other indirect cost. Improvements are generally
absorbed into the value of the building. Equipment and furnishings
whose expected life is less than that of the building are not usually included
in the cost of the building, but are placed in the category of “equipment”.
an asset category is reserved for expenditures that are visible tangible
personal property, are non-consumable in nature, have an anticipated life
of at least one (1) year, and costs $1,000.00 or more.
The following items will be
reported as equipment regardless of their purchase price:
two-way radio equipment, lawn maintenance equipment, cellular telephones,
chain saws, air compressors, welding machines, generators and motorized
The following items will
be reported only if purchase value is $250.00 and greater: Cameras and camera
equipment, televisions, computers and computer equipment (computer systems,
printers and external hard drives - does not include monitors purchased
separately, GPS systems, or Ipods/MP3 players).
is assets of a long-term character, non-consumable in nature, and is intended
to be held or used. They include land, buildings, improvements,
machinery, furniture and other equipment costing $500 or more.
STATE AGENCY shall
mean and include all the various state agencies, offices, departments,
boards, commissions and institutions. It shall also include any agency
or agencies financed entirely by federally granted funds.
shall be construed to include desks, chairs, tables, seats, filing cabinets,
bookcases and all other items of a similar nature, as well as dormitory
furniture, appliances and all other items of personal property generally
referred to as home, office, or school furniture.
Acquisitions acquired pursuant to Section 31-7-10 (state agencies) and
Section 37-101-413 (universities) are required to be maintained on a leased
When the lease purchase
contract matures, lease purchase items should be added to the regular capitalized