Business Information Item

DATE:	Tuesday, February 28, 2012
TO:	School Board Members
FROM:	MaryEllen Elia, Superintendent
SUBJECT / RECOMMENDATIONS
List of Stolen and Missing Tangible and Intangible Personal Property (Business Division)
EXECUTIVE SUMMARY
All site administrators are required to report on a Property Loss/Damage Report (PDR) any missing, damaged, or stolen district property.  State Statute 274.07 and Florida Administrative Code 69I-73.005 require unaccounted property to be reported to the Board in order to remove the assets from the Fixed Asset Master File.  At the January 24, 2012, Board Meeting, the Board asked a question on how many assets below the $1,000 capitalized threshold were reported stolen or missing during the first quarter of this school year. The attached is a list of tagged assets below $1,000 that were reported stolen or missing from July 1, 2011 to September 30, 2011.
STRATEGIC OBJECTIVES
• Demonstrate best financial practices
FINANCIAL IMPACT (Budgeted:  No)
The current net book value (cost less depreciation) of the items is $1,240.99.  Governmental agencies, per Government Accounting Standards Board (GASB) Statement 34, are required to utilize depreciation in reporting net assets.  However, since these assets have an acquired cost below $1,000, they are not included in net assets of the district.
EVALUATION
SUBMITTED BY:

Jeffrey A. Robison		Gretchen Saunders
Property Control Manager (813) 744-8874		Chief Business Officer (813) 272-4270
		A 9.03
Hillsborough County Public Schools (Florida) * Mtg.#20120228_494 (Board Meeting) * Section A Item# 9.03