Hillsborough County Public Schools Business
Action Item

DATE: Tuesday, April 24, 2007
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 110 items with a remaining netbook value and 2,704 items with a zero netbook value. Generally Accepted Accounting Principles require that assets that are nonfunctional or damaged beyond economical repair be removed from the property records.

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

N/A

FINANCIAL IMPACT (Budgeted: No)

There are no additional costs to the District; however, the Fixed Assets Master File will be reduced by $68,717.39, the netbook value of the assets. All proceeds received from the auction will be deposited into the General Fund.

EVALUATION

SUBMITTED BY: Eddie Rodriguez, Property Control



Gretchen Saunders
Chief Business Officer
(813) 272-4270
5.13
Hillsborough County Public Schools (Florida) * Mtg.#20070424_239 * Section E Item# 5.13