It is the decision of Texas State Technical College to advise faculty and staff of the responsibilities imposed by state law for the care, maintenance and safe-keeping of College property.

SPA

State Property Accounting.

State agency

any department, commission, board, office, or other agency in the executive branch or legislative branch of state government created by the constitution or a statute of the state of Texas; or any college system or an institution of higher education as defined by 61.003, Education Code, (i.e. Texas State Technical College.)

The Comptroller’s office is authorized by Texas Government Code Subchapter L, Section 403.271 through 403.276 to maintain a statewide property accounting system. The State Property Accounting (SPA) System is intended to provide government with the information to make wise decisions and to serve as a governmental tool to assure the public that all state agency assets and properly maintained.

1. All personal property owned by the state shall be accounted for by the agency that possesses that property and in accordance with the procedures set forth by SPA.
2. Any possession of the State of Texas having sufficient value to warrant inclusion in the fixed asset portion of any official statement(s) of financial condition, or any management controls placed upon it.
3. State agencies are still responsible for maintaining accountability for all state property; however, costs of a system for accountability, either in real costs or in lost opportunity costs, should not exceed the value of the equipment.
4. To facilitate systems for accountability, the State Comptroller has written an Accounting and Procedures System Manual and issued copies to each agency.

As per the Texas State Comptrollers Policy and Procedures Manual , controlled assets are:

1. property that the Comptroller requires agencies to report to the SPA System and
2. all assets upon which the agency places local management controls.

Controlled items are not included in the fixed assets section of the annual financial report. If the single unit acquisition costs of any items listed on the attachment is $5,000.00 or greater, that item is reported to the State Property Accounting System as a capitalized item. Only capitalized items are included in the fixed assets portion of the Annual Financial Report.

Department Chairs and account managers are responsible for all departmental assets and must monitor items that are excluded from the College’s inventory to ensure that the department has the equipment necessary to accomplish its objectives.

Designation of Accountable Officers

1. Property Manager: Supervisor of Property Accountability , serving as the Property Manager, administers the property inventory procedures and ensures compliance with state and college property regulation. As the representative of the President, the Property Manager is the custodian of all personal property possessed by Texas State Technical College.
2. Accountable Property Officer: The President delegates authority to the college account managers to serve as Accountable Property Officers with responsibility for the care, maintenance, and safe-keeping of property assigned to their accounts. An account manager may not further delegate this responsibility.

Responsibilities of Accountable Officers

1. When the College property is entrusted to a person other than the Accountable Property Officer, the Accountable Property Officer shall require a written receipt for such property from the person receiving custody.
2. Accountable Property Officers will take all reasonable precautions to assure that property is used only for official business and is safeguarded in such a manner as to ensure against loss or damage. If, in spite of such precautions, property is stolen, missing, destroyed, or damaged, a report to the Property Manager via Accounting Supervisor of Fixed Assets should be filed. Lost or stolen Property should be reported immediately to the College Police.
3. As a state agency, the College is required to complete an annual physical inventory of all property in its possession on a date prescribed by the SPA Policy and Procedures Manual. Accountable Property Officers are responsible for completing physical inventories of property assigned to their accounts.

   If the Chief Financial Officer has reasonable cause to believe that any state property has been lost, damaged or destroyed through the negligence or fault of a college official or employee, he shall immediately report such loss to the State Auditor and to the Attorney General. The Attorney General shall investigate a report of loss, destruction, or damage to state property. If the investigation discloses that the property loss has been sustained by the state through the fault of the college official or employee, the Attorney General shall make written demand on the college official or employee for reimbursement to the state for loss sustained. If the demand made by the Attorney General for reimbursement for property loss, destruction, or damage is refused or disregarded by the college official or employee on whom such demand is made, the Attorney General may take legal action to recover the value of the state property as the Attorney General deems necessary.

Change of Property Manager

Change of Accountable Property Officers

Failure to Maintain the Property Inventory in Accordance with State Law

Non-serviceable or Surplus Property

Controlled Assets