0001|                         HOUSE BILL 393
    |
0002|     42ND LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION,
    |
0003|     1996
    |
0004|                         INTRODUCED BY
    |
0005|                           RICK MIERA
    |
0006|     
    |
0007|                                
    |
0008|     
    |
0009|     
    |
0010|     
    |
0011|                             AN ACT
    |
0012|     RELATING TO STATE PROPERTY; INCREASING THE MINIMUM DOLLAR AMOUNT
    |
0013|     OF CHATTEL OR EQUIPMENT REQUIRED TO BE INVENTORIED EACH YEAR.
    |
0014|     
    |
0015|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
    |
0016|       Section 1.  Section 12-6-10 NMSA 1978 (being Laws 1969,
    |
0017|     Chapter 68, Section 10, as amended) is amended to read:
    |
0018|       "12-6-10.  ANNUAL INVENTORY.--
    |
0019|            A.  The governing authority of each agency shall, at
    |
0020|     the end of each fiscal year, conduct a physical inventory of
    |
0021|     movable chattels and equipment costing more than <s>[five hundred
</s>    |
<s></s>0022| <s>    dollars ($500)]</s> <u>five thousand dollars ($5,000)</u> and under the
    |
0023|     control of the governing authority.  This inventory shall
    |
0024|     include all movable chattels and equipment procured through the
    |
0025|     capital program fund under Section 15-3-23 NMSA 1978, which are
    |
0001|     assigned to the agency designated by the director of the
    |
0002|     property control division <u>of the general services department</u>
    |
0003|     as the user agency.  The inventory shall list the chattels and
    |
0004|     equipment and the date and cost of acquisition.  No agency shall
    |
0005|     be required to list any item costing <s>[five hundred dollars
</s>    |
<s></s>0006| <s>    ($500)]</s> <u>five thousand dollars ($5,000)</u> or less.  Upon
    |
0007|     completion, the inventory shall be certified by the governing

    |
0008|     authority as to correctness.  Each agency shall maintain one
    |
0009|     copy in its files.  At the time of the annual audit, the state
    |
0010|     auditor shall satisfy himself as to the correctness of the
    |
0011|     inventory by generally accepted auditing procedures. <u>As used in
</u>    |
<u></u>0012| <u>    this subsection, "cost of acquisition" means the original cost
</u>    |
<u></u>0013| <u>    of acquisition of the chattel or equipment plus the cost of any
</u>    |
<u></u>0014| <u>    enhancement to the chattel or equipment that exceeds five
</u>    |
<u></u>0015| <u>    hundred dollars ($500).  Routine maintenance is not an
</u>    |
<u></u>0016| <u>    enhancement.</u>
    |
0017|            B.  The official or governing authority of each
    |
0018|     agency is chargeable on his official bond for the chattels and
    |
0019|     equipment shown in the inventory.
    |
0020|            C.  The general services department shall establish
    |
0021|     standards, including a uniform classification system of
    |
0022|     inventory items, and promulgate regulations concerning the
    |
0023|     system of inventory accounting for chattels and equipment
    |
0024|     required to be inventoried, and the governing authority of each
    |
0025|     agency shall install the system.  A museum collection list or
    |
0001|     catalogue record and a library accession record or shelf list
    |
0002|     shall constitute the inventories of museum collections and
    |
0003|     library collections maintained by state agencies and local
    |
0004|     public bodies.
    |
0005|            D.  No surety upon the official bond of any officer
    |
0006|     or employee of any agency shall be released from liability until
    |
0007|     a complete accounting has been had.  All official bonds shall
    |
0008|     provide coverage of or be written in a manner to include
    |
0009|     inventories."
    |
0010|                              
    |