Fla. Admin. Code Ann. R. 69I-73.003 - Recording of Property
(1) Maintenance of
Property Records - Governmental units shall maintain records of property in
their custody that shall contain at a minimum, the information required by this
rule.
(2) Individual Records
Required for Each Property Item - Each item of property shall be accounted for
in a separate property record. Related individual items which constitute a
single functional system may be designated as a property group. A property
group may be accounted for in one record if the component items are separately
identified within the record. Examples of property items that may be accounted
for as a property group item include modular furniture, computer components,
book sets, and similar association of items. All property group items, the
total value or cost of which is equal to or greater than $5,000 shall be
inventoried under this rule.
(3)
Content of Individual Property Records - Each property record shall include the
following information unless the information listed below does not exist for
the property in the record:
(a)
Identification number.
(b)
Description of item or items.
(c)
Physical location (the city, county, address or building name, and room number
therein).
(d) Name of custodian
with assigned responsibility for the item.
(e) In the case of a property group, the
number and description of the component items comprising the group.
(f) Name, make, or manufacturer.
(g) Year and model(s).
(h) Manufacturer's serial
number(s).
(i) If an automobile,
the vehicle identification number (VIN) and title certificate number.
(j) Date acquired.
(k) Cost or value at the date of acquisition
for the item or the identified component parts thereof. When the historical
cost of the purchased property is not practicably determinable, the estimated
historical cost of the item shall be determined and recorded. Estimated
historical costs shall be identified in the record and the basis of
determination established in the governmental unit's public records. The basis
of valuation for property items constructed by personnel of the governmental
unit shall be the costs of material, direct labor, and overhead identifiable to
the project. Donated items, including federal surplus tangible personal
property, shall be valued at acquisition value at the date of acquisition.
Regardless of acquisition method, the cost or value of a property item shall
include ancillary charges. Ancillary charges are costs that are directly
attributable to placing the asset into its intended location and condition for
use, such as freight and transportation charges, installation costs and
professional fees.
(l) Method of
acquisition and, for purchased items, the voucher and check or warrant
number.
(m) Date the item was last
physically inventoried and the condition of the item at that date.
(n) If disposed of, the information
prescribed in rule 69I-73.005,
F.A.C.
(4) Control
Accounts - A governmental unit-wide control account showing the total cost or
value of the custodian's property shall be maintained. A governmental unit may
keep additional control accounts for property for different funds or sub-funds.
Control accounts shall not be established by periodically summarizing the costs
or values recorded on the individual property records. Entries to control
accounts shall be derived from documents evidencing transactions affecting the
acquisition, transfer or disposition of property items and shall be posted
contemporaneously with entries to the individual property records.
(5) Depreciation shall be recorded to meet
local governments' financial reporting requirements relating to depreciation
accounting. However, depreciation shall not be recorded on the individual
property records or in control accounts in such a manner as to reduce the
recorded acquisition cost or value (i.e., depreciation shall be recorded as an
item separate from the acquisition cost).
Notes
Rulemaking Authority 274.02 FS. Law Implemented 274.02 FS.
New 3-25-08, Amended 10-1-20.
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