What is the inventory threshold?
As of July 1, 2001, the Department of Administration set the minimum inventory reporting level at $2,000, based on the original purchase price, or purchase unit cost plus ancillary costs, for personal property. Personal property inventory may also be termed Chattel Property Inventory System (CPIS), Fixed Asset System (FAS) or Capital Asset Systems. Although each agency is free to add additional functions or requirements for their individual inventory that meet that agency’s needs, only the minimum inventory threshold value is used as a guideline for surplus personal property disposal procedures by the Board of Examiners. 14) Does an agency need to notify Board of Examiners when an asset below $2,000 original purchase price (low-value asset) is removed from their Capital Asset System (Fixed Asset System-FAS) yet retained in service? No, items with an original purchase price below $2,000 are low-value assets and are managed at the discretion of each agency director. Each agency may opt t
