PURPOSE AND OBJECTIVE OF PROPERTY ACCOUNTING - 8600
Legal Authority
Government Code sections 13300 and 13310
Definitions
None.
Policy
Property accounting policies and procedures establish uniform accountability for the management, control, accounting, and recordkeeping of state property and provide guidance for its acquisition, maintenance, control, and disposition.
Responsibilities
Departments must establish and maintain accurate accounting records and strong internal controls to prevent and detect unauthorized use of state property.
Management is responsible for implementing and ensuring that property accounting procedures and internal controls are in place.
Departments purchasing property with federal funds should obtain federal pre-approval of state property accounting procedures if state procedures differ significantly from federal regulations.
Resources
None.