Reminder for Loss Reporting

Statutory Requirements for Reporting State Asset Losses – Reminder for FY27

Pursuant to Connecticut General Statutes § 4-33a, which addresses illegal, irregular, or unsafe handling of state or quasi-public agency funds, breakdowns in safeguarding resources, and breaches of security, state agencies are required to promptly report any adjustment or loss of state-owned assets upon discovery.

This is a reminder that agencies must ensure full compliance with these requirements and maintain timely reporting.

All asset losses or adjustments must be reported using the CO-853 forms, available on the OSC website. Additional guidance is provided in Chapter 7 of the Property Control Manual,  Memorandum No. 2024-14 and our most recent webinar, held March 2026 Central Accounts Payable Division -March 2026 Webinar.

For questions regarding these requirements, please contact the OSC, Central Accounts Payable Security and Asset Management at osc.CO-853@ct.gov.