Definitions
Tangible Personal Property is all property that has real physical existence and a useful life of two years or more excluding real property and intangible personal property, such as software and copyrights. Tangible personal property includes but is not limited to equipment, machinery, furniture, and non-licensed vehicles, including renovations and improvements thereon. Tangible personal property is considered real property (building fixtures) when permanently attached and made part of a building in such a way that removal alters the intended use of the facility or site. Thus it becomes subject to real property inventory reporting threshold.
Real Property is defined as land, and whatever is erected or affixed to land, excluding infrastructure. Major classifications of real property are land, land improvements and buildings. Land improvements include, but are not limited to landscape, sidewalks, parking lots, shelters, storm sewers, towers, storage tanks, etc. Buildings include, but are not limited to improvements and renovations thereon.
Infrastructure is defined as including public domain, basic facilities, and installations that are immovable, owned by the state government and exist primarily for public use. Infrastructure includes, but is not limited to state highways, bridges, and associated assets; land upon which state highways and right-of-ways are built; canals; roadside rest areas, and associated buildings; wildlife preserves, marinas, and freestanding historical monuments. Also, land improvements within a state park, such as bridle paths, sidewalks, jogging paths, golf courses, marinas, etc., are considered as infrastructure because they exist primarily for public use. Inventory of infrastructure as defined is not required to be kept.
Inventory Label is defined as a self-adhesive label or comparable electronic medium device used to safeguard and identify inventoried tangible personal property with an agency unique, serialized asset ID number by affixing it to an asset. The label using the bar code format for its asset ID number will always be accompanied with the human readable asset ID number.
Security Label is defined as a self-adhesive label not having a serialized asset ID number and can optionally be affixed to tangible personal property. Its purpose is to safeguard and identify non-inventoried tangible personal property as assets of an agency and the state.
Criteria
| Inventory Item |
Thresholds |
Method of Tracking |
| Tangible Personal Property inventory threshold |
- $500 - $999.99
- $1000 & above
|
- OAKS and/or ODNR Inventory Spreadsheet
- OAKS
|
Sensitive Property
- Audio Visual Equipment
- Audio Equipment
- Communications Equipment without memory
- Antiques
- Surveillance Equipment
- Power Tools
- Moveable Works of Art
|
$500 & above |
OAKS |
| Security Labels |
Optional, recommended for items below Division/Office threshold |
|
| Firearms |
Regardless of cost |
OAKS |
| Licensed Vehicles including trailers |
Regardless of cost |
DAS Fleet Management Systems |
| Computer Equipment (i.e. computing, networking or communication equipment with processors and/or memory) |
Regardless of cost |
OAKS |
| Land |
Regardless of cost |
OAKS |
| Buildings |
Regardless of cost |
OAKS |
| Buildings Improvement and Renovations |
Regardless of cost |
OAKS |
| Land Improvements |
Regardless of cost |
OAKS |
| Improvement and Renovation to an existing Land improvement |
Regardless of cost |
OAKS |
Inventory items shall be labeled within 5 working days of receipt. Entry into the respective system shall be within 5 working days of payment.
Identifying Property
All tangible personal property that is required to be inventoried within OAKS by this policy shall each be affixed with an inventory label, except where the following items or conditions apply:
- Internal components of an original asset
- Items not having an appropriate outside surface area or other physical configuration to allow placement of and inventory label
- Assets subject to environmental conditions not allowing the inventory label to remain affixed to the items throughout their useful life
- Modular furniture that requires attachment to other modular furniture in order to perform its intended function
- Antiques and/or museum items
An alternate method of etching or stenciling the inventory record number onto an asset can be used instead of an inventory label when one of the above conditions applies to its tangible personal property. An asset that has internal parts that are necessary to the functioning of the asset are not required to be separately inventoried, and can be considered to be all one asset (inventory record) providing all of the following applies:
- The internal parts are acquired to place the asset into service and function as required
- The life and utility of the internal parts are mainly dependent on that of the asset, even if the acquired dates and vendors are different from each other
- The cost of each part is included in the aggregate total of the inventory record
- The internal parts are included in the description of the inventory record
A digital picture of an asset may also be used, as an alternate method for identifying an asset when applying an inventory label is not practical.
Should an internal part be acquired and installed for an asset after it has been placed in service and is functioning as intended, then any subsequent internal parts are considered as separate components and are inventoried separately as a component record.
A complete physical inventory of tangible personal property that has value and a useful life of two years shall be done by June 30 each year.
Divisions are required to submit signed verification of completed inventories by June 30 each year.
DNR 8800 Inventory Form (pdf version)
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