Fla. Admin. Code Ann. R. 69I-72.002 - Threshold for Recording Tangible Personal Property for Inventory Purposes
All tangible personal property with a value or cost of $5,000 or more and having a projected useful life of one year or more shall be recorded in the state's financial system as property for inventory purposes. Any hardback book with a value or cost of $25 or more and having a useful life of one year or more that is circulated to students or the general public, and any hardback book with a value or cost of $250 or more that is not circulated shall be recorded in the state's financial system as property for inventory purposes. For the purpose of this rule chapter, "cost" is used if the property is purchased and represents the purchase price of the property item; "value" is used if the property is donated and represents the worth or acquisition value of the property item at the date of donation. Attractive items with a value or cost of less than $5,000 shall be recorded in the state's financial system as property for inventory purposes.
Notes
Rulemaking Authority 273.02 FS. Law Implemented 273.02 FS.
New 1-13-08, Amended 7-1-20.
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.