Fla. Admin. Code Ann. R. 69I-72.007 - Capitalization of Property
For statewide financial reporting 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 must be capitalized. 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 must be capitalized. Attractive items must not be capitalized for statewide financial reporting purposes.
Notes
Rulemaking Authority 273.025 FS. Law Implemented 273.025 FS.
New 1-13-08, Amended 7-1-20.
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