Okla. Stat. tit. 74, § 74-110.1: Inventory by Office of Management and Enterprise

Services.

A. The Office of Management and Enterprise Services shall

maintain a current inventory of tangible assets owned by state

boards, commissions, institutions, agencies and the institutions

comprising The Oklahoma State System of Higher Education and the

University Hospitals Authority.

B. The Director of the Office of Management and Enterprise

Services shall have authority to promulgate rules to implement the

provisions of this section.

C. For entities included in subsection A of this section, the

Director of the Office of Management and Enterprise Services shall

specify a tangible asset reporting threshold for each entity, not to

exceed the federal capitalization rate specified in the Office of

Management and Budget Circular A-21 or future federal circulars or

regulations as amended. When establishing the tangible asset

reporting threshold for an entity, the Director of the Office of

Management and Enterprise Services shall consider the entity's

capability to provide tangible asset records, finance and accounting

systems, inventory accuracy and other pertinent factors.

D. Tangible assets shall consist of machinery, implements,

tools, furniture, livestock, vehicles and other apparatus that may

be used repeatedly without material impairment of its physical

condition and have a calculable period of service and a value

exceeding the reporting threshold the Director of the Office of

Management and Enterprise Services establishes for the entity.

E. Rules that the Director of the Office of Management and

Enterprise Services promulgates shall cause all tangible assets to

be properly coded, tagged, or marked in such a manner that they may

be readily identified as property of the State of Oklahoma and that

statistical records may be maintained.

F. The Office of Management and Enterprise Services may make

periodic checks of tangible assets of entities listed in subsection

A of this section. All entities will make support personnel

available to the Office of Management and Enterprise Services to

report tangible asset acquisitions, assist with identification and

update inventories on a periodic basis.

G. The Office of Management and Enterprise Services shall

report missing tangible assets to state investigative or law

enforcement officials.