(a) The Division of Youth Services shall:

1. (1) Abide by Department of Human Services Financial Authority Policy 1064 or any such successor policy in which the Office of Finance and Administration of the Department of Human Services is responsible for establishing uniform Department of Human Services-wide financial policies and procedures; and

2. (2) Comply with the:

   1. (A) Department of Finance and Administration’s Financial Management Guide;
   2. (B) General Accounting and Budgetary Procedures Law, Arkansas Code § 19-4-101 et seq.;
   3. (C) Generally accepted governmental accounting principles; and
   4. (D) Professional accounting practices through development of financial policies and procedural requirements for use by all divisions.

(b)

1. (1) The division shall abide by Department of Human Services Policy 2000 (Department of Human Services Capital Asset System Policy) and utilize Department of Human Services Form 1036 (Missing Assets).

2. (2) The Department of Human Services Office of Information Technology:

   1. (A) Is responsible for the overall supervision and maintenance of the property inventory of electronic equipment throughout the division; and
   2. (B) Shall make necessary visits and inspections to ensure full compliance with state laws and rules.