Okla. Stat. tit. 74, § 74-110.1
This is the official text of Okla. Stat. tit. 74, § 74-110.1, part of Oklahoma’s Stat. tit. 74, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 74,." Browse the sections below, each linked to its official government source.
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Inventory by Office of Management and Enterprise
Official statutory text
Services.
A. The Office of Management and Enterprise Services shall
maintain a current inventory of tangible assets owned by state
boards, commissions, institutions, agencies and the institutions
comprising The Oklahoma State System of Higher Education and the
University Hospitals Authority.
B. The Director of the Office of Management and Enterprise
Services shall have authority to promulgate rules to implement the
provisions of this section.
C. For entities included in subsection A of this section, the
Director of the Office of Management and Enterprise Services shall
specify a tangible asset reporting threshold for each entity, not to
exceed the federal capitalization rate specified in the Office of
Management and Budget Circular A-21 or future federal circulars or
regulations as amended. When establishing the tangible asset
reporting threshold for an entity, the Director of the Office of
Management and Enterprise Services shall consider the entity's
capability to provide tangible asset records, finance and accounting
systems, inventory accuracy and other pertinent factors.
D. Tangible assets shall consist of machinery, implements,
tools, furniture, livestock, vehicles and other apparatus that may
be used repeatedly without material impairment of its physical
condition and have a calculable period of service and a value
exceeding the reporting threshold the Director of the Office of
Management and Enterprise Services establishes for the entity.
E. Rules that the Director of the Office of Management and
Enterprise Services promulgates shall cause all tangible assets to
be properly coded, tagged, or marked in such a manner that they may
be readily identified as property of the State of Oklahoma and that
statistical records may be maintained.
F. The Office of Management and Enterprise Services may make
periodic checks of tangible assets of entities listed in subsection
A of this section. All entities will make support personnel
available to the Office of Management and Enterprise Services to
report tangible asset acquisitions, assist with identification and
update inventories on a periodic basis.
Oklahoma Statutes - Title 74. State Government Page 246
G. The Office of Management and Enterprise Services shall
report missing tangible assets to state investigative or law
enforcement officials.
A. The Office of Management and Enterprise Services shall
maintain a current inventory of tangible assets owned by state
boards, commissions, institutions, agencies and the institutions
comprising The Oklahoma State System of Higher Education and the
University Hospitals Authority.
B. The Director of the Office of Management and Enterprise
Services shall have authority to promulgate rules to implement the
provisions of this section.
C. For entities included in subsection A of this section, the
Director of the Office of Management and Enterprise Services shall
specify a tangible asset reporting threshold for each entity, not to
exceed the federal capitalization rate specified in the Office of
Management and Budget Circular A-21 or future federal circulars or
regulations as amended. When establishing the tangible asset
reporting threshold for an entity, the Director of the Office of
Management and Enterprise Services shall consider the entity's
capability to provide tangible asset records, finance and accounting
systems, inventory accuracy and other pertinent factors.
D. Tangible assets shall consist of machinery, implements,
tools, furniture, livestock, vehicles and other apparatus that may
be used repeatedly without material impairment of its physical
condition and have a calculable period of service and a value
exceeding the reporting threshold the Director of the Office of
Management and Enterprise Services establishes for the entity.
E. Rules that the Director of the Office of Management and
Enterprise Services promulgates shall cause all tangible assets to
be properly coded, tagged, or marked in such a manner that they may
be readily identified as property of the State of Oklahoma and that
statistical records may be maintained.
F. The Office of Management and Enterprise Services may make
periodic checks of tangible assets of entities listed in subsection
A of this section. All entities will make support personnel
available to the Office of Management and Enterprise Services to
report tangible asset acquisitions, assist with identification and
update inventories on a periodic basis.
Oklahoma Statutes - Title 74. State Government Page 246
G. The Office of Management and Enterprise Services shall
report missing tangible assets to state investigative or law
enforcement officials.
Status: in_force · Read it on the official government site
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