Resolutions - Jersey City

determation is made by OHSP subsequent to the awarding ofthe grant and the fuds have already
been received by the Subgrantee, the reduced amount wil be remitted to OHSP.
XI. Propert Management Standards.
A. Property furnhed by OHSP or acquired in whole or in par with OHSP fuds and/or federal fuds or
whose cost was charged to a project supported by OHSP funds and/or federal funds shal be utiled
. and disposed of in a maner coiiistent with state requirements.
B. Executive level state agencies are required to COmply with state OMB CL#01-07 and OMB CL#9 l-
32 and OMB State Fiscal Year End Guidelies for reporting of Capital and Fixed Assets, as more
specifically set forth in Paragraph D below. Non-executive state departments (i.e. colleges and
universities, New Jersey Tranit agencies, Port Authority agencies, local level of governent,
nonprofit organations, etc.) must adhere to and follow their respective inventory and fied inventory
policies and procedures. Nonprofit organations requirements/standards are more specifically set.
forth in Paragraph E below.
C. Resources purchased with HSGP funds (that meet the entry requirements) shall be entered into the
New Jersey O:fceofEmergency Management's Resource Directory Database (RDDB). A copy of
the RDDB entry wil'be included with each request for reimbursement when applicable.
D. Requirements for State Agencies.
1. . To 'meet the mium requirements for the establishment and maintenance of agency
equipmentinventory records perN ew Jersey Treasury Circular No. 91 ~32-0MB Equipment
Inventory Process. An inventory system is necessary.
a. To fistewatdship responsibilty for particular equipment.
b. To provide a means of control to determe that state equipment is not stolen or.
miappropriated.
c. . To obtain optimum insurance coverage levels and provide important proof..of-Ioss
evidence when inurance claim are fied.
d. To locate excess or surplus items that can be made available to other agencies or to be
sold at public auction.
e. To permt the development of depreciation and cost services information for possible
reimbursement through federai grant programs.
£ To maitain a schedule of acquisitions fianced by federal funds.
2. For the purpose set forth in New Jersey Treasury Circular No. 91-32-0MB, those items of
equipment with an original cost of$l,OOO.OO or more,and an expected useful life of three (3)
years or more must be maintained on an equipment inventory record. Examples of such
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