HCPS FL Logo Business
Action Item
DATE: Tuesday, January 20, 2015
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 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 61 items with a remaining net book value of $41,878.20 and 3,267 items with a zero net book value.  The period for this report is July 1, 2014December 31, 2014.  Generally Accepted Accounting Principles require that assets, which are nonfunctional or damaged beyond economical repair, be removed from the property records.
STRATEGIC OBJECTIVES
• 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 $41,878.20, 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.
EVALUATION
SUBMITTED BY: 
Jeffrey A. Robison   Gretchen Saunders
Property Control Manager
(813) 744-8874
  Chief Business Officer
(813) 272-4270
    A 6.29
Hillsborough County Public Schools (Florida) * Mtg.#20150120_682 (Board Meeting) * Section A Item# 6.29