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Oklahoma Administrative Code (Last Updated: March 11, 2021) |
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TITLE 260. Office of Management and Enterprise Services |
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Chapter 110. State Inventory |
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Subchapter 1. General Provisions |
SECTION 260:110-1-3. Threshold determination
Latest version.
- (a) General threshold. Unless the Director specifies otherwise (Reference (b) of this Section), the threshold for tangible asset inventory reports is $500.00.(b) Specified threshold. The Director may specify an individual threshold for an agency which shall be greater than $100.00 but not to exceed the amount authorized by 74 O.S., Section 110.1.(c) Threshold considerations. Whenever the Director specifies an individual threshold for an agency, the capabilities of the agency to provide an inventory of tangible assets to the Office shall be considered:(1) If an agency demonstrates reliable tangible asset reporting capabilities, the Director may specify a threshold greater than $500.00 but not to exceed the amount authorized by 74 O.S., Section 110.1.(2) If an agency demonstrates unreliable tangible asset reporting capabilities or does not meet reporting requirements, the Director may specify a threshold not to exceed $500.00.(d) Unreliable reporting. Whenever it is determined that an agency with an established threshold exceeding $500.00 has provided unreliable information or has not met the reporting requirements of this Chapter, the Director may reduce the threshold of the agency.(e) Review of specified threshold. No less than six (6) months after the reduction of its threshold, an agency may submit a written request for review of the agency's inventory reporting capabilities to the Director.(1) If the review determines the agency has demonstrated the capability to provide reliable inventory reports, the Director may increase the agency threshold to an amount not to exceed the amount authorized by 74 O. S., Section 110.1.(2) If the review determines the agency has provided unreliable information or has not met the reporting requirements of this Chapter, the Director may reduce the agency threshold to an amount exceeding $100.00.(f) Notice of reporting threshold. The Director shall provide an agency with written notice of the tangible asset reporting threshold specified pursuant to this section which states the amount and determination for the change.