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Agency Required Policies - Quick Reference Guide

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Understand

The State Administrative and Accounting Manual (SAAM) requires agencies to have their own written internal policies, procedures, designations and/or documentation for capital assets, inventories, accounting, and other policies. 

Policies

State Administrative and Accounting Manual (SAAM) sections requiring agencies to have their own internal written policies, procedures, designations and/or documentation:

Capital Assets

30.10.40 Designation of Agency Inventory Officer to protect and control use of all capital assets. 
30.20.70.c Useful lives for capital assets acquired in less than new condition. 
30.40.20 Small and attractive assets policy. 
30.40.45 Procedures for timely removal of capital assets from inventory. 

Inventories

35.10.25 Designation of Agency Inventory Officer(s). 
35.10.40.b Definition of bench stock items excluded from inventory balance. 
35.10.45.a Method(s) selected for accounting and reporting for inventories. 
35.10.45.f Document alternative inventory valuation method.

Accounting: Policies/Procedures Related to Receipting/Receivables

85.20.20 Timely and efficient receipting.
85.50.10.a Daily deposit waiver (DES waiver for small agencies).
85.54.35 Timely interagency billings
85.54.50.b Follow up of past due receivables.
85.54.55.c Criteria for uncollectible receivables.
85.54.60.c Adjusting receivables.
85.54.60.g Records retention for write offs.

Accounting: Policies/Procedures Related to Expenditures/Expenses/Disbursements

85.32.10 Expenditures/expenses and disbursements should be lawful, proper, recorded timely, prompt and accurate.
85.32.40.b Mathematical accuracy and proper recording.
85.32.50.a Timely, accurate, and cost effective vendor payments.
85.36.10 Disbursements should be made by the most cost effective means available.
85.90.60.c Timely, accurate, and cost effective interagency reimbursements.