Business
Action Item |
DATE: | Tuesday, April 21, 2015 |
TO: | School Board Members |
FROM: | Jeff Eakins, Acting 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 198 items with a remaining net book value of $42,182.35 and 808 items with a zero net book value. The period for this report is January 1, 2015 - March 31, 2015. 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 $42,182.35, 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 6.14 | ||
Hillsborough County Public Schools (Florida) * Mtg.#20150421_688 (Board Meeting) * Section A Item# 6.14 |