Hillsborough County Public Schools Business
Action Item

DATE: Tuesday, February 24, 2009
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 auction 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 56 items with a remaining net book value and 1,803 items with a zero net book value. The period for this report is October 1, 2008 - December 31, 2008. Generally Accepted Accounting Principles require that assets, which are nonfunctional or damaged beyond economical repair be removed from the property records.

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

* Demonstrate best financial practices

FINANCIAL IMPACT (Budgeted: No)

There are no additional costs to the District; however, the Fixed Assets Master File will be reduced by $36,818.15, which is the net book value of the assets. All proceeds received from the auction will be deposited into the General Fund.

EVALUATION

SUBMITTED BY: Eddie Rodriguez, District Property Accountant

Jeffrey A. Robison
Property Control Manager
(813) 744-8874
Gretchen Saunders
Chief Business Officer
(813) 272-4270
A 5.25
Hillsborough County Public Schools (Florida) * Mtg.#20090224_344 * Section A Item# 5.25