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Action Item
DATE: Tuesday, April 04, 2017
TO: School Board Members
FROM: Jeff Eakins, Superintendent
Approve Disposal of Obsolete Tangible and Intangible Personal Property (Business Services Division)
Disposal will be by auction to the highest bidder or by salvaging.  Tangible and intangible personal property requested for removal from the property records no longer serves a district purpose, is nonfunctional (obsolete), damaged beyond economical repair, or has been harvested for parts.  There are 12 items with a remaining net book value of $7,742.90 and 672 items with a zero net book value.  The period for this report is October 1, 2016–December 31, 2016.  Generally Accepted Accounting Principles require that assets, which are nonfunctional or damaged beyond economical repair, be removed from the property records.
• Establish a strong foundation of financial stewardship
There are no additional costs to the district; however, the Fixed Assets Master File will be reduced by $7,742.90, which is the net book value of the assets.  Governmental agencies, per Government Accounting Standards Board (GASB) Statement 34, are required to utilize depreciation in reporting net assets.  All proceeds received from the auction will be deposited into the General Fund.
SUBMITTED BY:  Jeffrey A. Robison, Accountant II, Property Control
Gretchen Saunders   Dr. Alberto Vázquez
Chief Business Officer
(813) 272-4270
  Chief of Staff
(813) 272-4986
    C 6.16
Hillsborough County Public Schools (Florida) * Mtg.#20170404_809 (Board Meeting) * Section C Item# 6.16