Hillsborough County Public Schools Business
Action Item

DATE: Tuesday, May 2, 2006
TO: School Board Members
FROM: MaryEllen Elia, Superintendent

SUBJECT / RECOMMENDATIONS

Approve Disposal of Obsolete Tangible and Intangible Personal Property (Business Division)

EXECUTIVE SUMMARY

Disposal will be by public sale to the highest bidder or by salvaging if no bid can be obtained. Tangible and intangible personal property requested for removal from the property records is nonfunctional(obsolete), damaged beyond economical repair or has been cannibalized for parts. There are 95 items with true values and 538 items with zero values. Generally Accepted Accounting Principles require that assets that are nonfunctional or damaged beyond economical repair must be removed from the property records. The assets will be disposed according to district policies and procedures.

ANNUAL DISTRICT GOAL(S) AND CRITICAL SUCCESS FACTOR(S)

FINANCIAL IMPACT (Budgeted: No)

There is no additional costs to the District; however, the stores inventories in the General Ledger will be decreased by $44,817.03. All proceeds received from the auction will be deposited into the General Fund.

EVALUATION

SUBMITTED BY:

Eddie Rodriguez
Property Control Coordinator
813-744-8874
Gretchen Saunders
Chief Business Officer
813-272-4270
5.12
Hillsborough County Public Schools (Florida) * Mtg.#20060502_175 * Section E Item# 5.12