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Title: Section 87.37 - Personal tangible property

87.37 Personal tangible property.

(a) A property register shall be maintained by a hospital for each type of major movable property owned.

(b) The property register may be in the form of a subsidiary equipment ledger.

(c) Entries in the property register shall be made as soon as possible after a transaction is completed. A systematic plan of recordkeeping that permits the efficient recording of purchases, transfers, trade-ins and retirements shall be used.

(d) A sample physical inventory of all items in the proper register shall be made at least once a year. The property register may be adjusted to reflect any necessary material changes resulting from the physical inventory provided that an officer of a hospital certifies to the facts of the adjustment. Adequate details of the physical inventory, adjustments and certifications shall be maintained for inspection by the State Department of Health.

(e) All property having a unit cost of $50 or more at time of purchase may be used as part payment for replacement equipment, or it may be offered for sale on a competitive basis. If no offers are received, it may be discarded provided an officer of a hospital certifies to the facts of such disposal.

(f) An annual physical inventory of consumable supplies on hand shall be taken and recorded on the books of a hospital.


VOLUME A-2 (Title 10)