D.C. Mun. Regs. r. 27-4112

Current through Register Vol. 71, No. 24, June 14, 2024

Rule 27-4112 - INVENTORIES

4112.1

Immediately upon termination or completion of a contract providing for use of District property by the contractor shall perform, and cause each subcontractor to perform, a physical inventory that is adequate for disposal purposes of all District property applicable to the contract.

4112.2

The requirement for physical inventory at the completion of a contract may be waived by the contracting officer when the property is authorized for use under a follow-on contract and the following factors apply:

(a) Experience has established the adequacy of property controls and an acceptable degree of inventory discrepancies;

(b) The contractor provides a written statement indicating that record balances have been transferred instead of preparing a formal inventory list; and

(c) The contractor provides a written statement accepting responsibility and accountability for any balances under the terms of the follow-on contract.

4112.3

The contractor shall, as a minimum, submit the following to the contracting officer promptly after completing the physical inventory:

(a) A listing that identifies all discrepancies disclosed by a physical inventory; and

(b) A signed statement that physical inventory of all or certain classes of District property was completed on a given date, and that the official property records were found to be in agreement except for the discrepancies reported.

4112.4

When requested by the contracting officer, the contractor's reports of the results of physical inventory shall be prepared on a quantitative and monetary basis and segregated by categories of property.

D.C. Mun. Regs. r. 27-4112

Final Rulemaking published at 35 DCR 1743 (February 26, 1988),