Business Services Action Item

DATE:	Tuesday, October 15, 2019
TO:	School Board Members
FROM:	Jeff Eakins, Superintendent
SUBJECT / RECOMMENDATIONS
Approve the List of Damaged, Stolen, and Missing Tangible and Intangible Personal Property (Business Services Division)
EXECUTIVE SUMMARY
All site administrators are required to report on a Property Loss/Damage Report any damaged, stolen, or missing district property. State Statute 274.07 and Florida Administrative Code 69I-73.005 require capitalized unaccounted property be reported to the Board in order to remove the assets from the Fixed Asset Master File. The Board's investment in fixed assets will be reduced by the net book value of the reported assets. The time period for this report is January 1, 2019 - June 30, 2019.
STRATEGIC OBJECTIVES
• Establish a strong foundation of financial stewardship
FINANCIAL IMPACT (Budgeted:  No)
At the date of the reported loss, the net book value (cost less depreciation) was $6,262.10. Governmental agencies, per Government Accounting Standards Board Statement 34, are required to utilize depreciation in reporting net assets.
EVALUATION
The Property Control team conducts training continuously. The audience includes media specialists, technology specialists, assistant principals, area superintendents, and school district departments. Training includes a review of the process to follow for missing, lost, or stolen items. Should any of the missing items be found or recovered, those assets would be added back to the Fixed Asset Master File.
SUBMITTED BY:  Jeffrey A. Robison, Accountant II, Property Control

Jeffrey A. Robison		Gretchen Saunders
Accountant II, Property Control (813) 744-8874		Chief Business Officer (813) 272-4270
		B 6.28
Hillsborough County Public Schools (Florida) * Mtg.#20191015_932 (Board Meeting) * Section B Item# 6.28