Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69I - Division of Accounting and Auditing › Chapter 69I-71 - ADJUSTMENT FOR UNACCOUNTED FOR PROPERTY AND ADJUSTMENT, SETTLEMENT AND RECOVERY OF ACCOUNTS RECEIVABLE OF LOCAL GOVERNMENTAL UNITS › Section 69I-71.003 - Procedure for Adjustment for Unaccounted for Property

Current through Reg. 50, No. 138; July 16, 2024
(1) Each governmental unit shall be
				responsible for maintaining proper records and controls over its
				property.
(2) Upon unaccounted for
				property being reported to the Department, the Department will notify the
				governmental unit in writing and direct the governmental unit's attorney to
				represent the governmental unit in enforcing settlement, subject to approval by
				the Department, or enforcing payment or delivery of such property pursuant to
				section  17.041(2),
				F.S.
(3) Approval by the Department
				is not required for the adjustment of the property records by a governmental
				unit for unaccounted for property that has not been reported to the Department.
				Governmental units should establish proper controls and procedures for
				adjusting the property records for unaccounted for property that has not been
				reported to the Department.
(4)
				Unaccounted for property that has been reported to the Department may be
				adjusted on the property records of a governmental unit only with the prior
				approval of the Department. Approval will not be given if the request does not
				contain information which shows that the governmental unit made a reasonable
				effort to account for the property and that the expenditure of additional
				resources of the governmental unit to attempt to account for the property would
				not be in its best interest.
(5)
				Each request to the Department to adjust property records must be in the form
				of a resolution, stating that the proposed adjustment is contingent upon the
				Department's approval. The resolution or a copy thereof must be submitted to
				the Department of Financial Services, Bureau of Accounting, 200 East Gaines
				Street, Tallahassee, Florida 32399-0354.
(6) The resolution shall list the items to be
				adjusted in the property records and shall indicate that such items have been
				reported missing in the two most recent physical inventories. The resolution
				shall describe any actions taken by the governmental unit's attorney to account
				for the property and if no actions were taken, the reasons therefor.
(7) Each resolution submitted shall contain a
				statement that supporting documentation is on file with the governmental unit
				and is available for postaudit by the Department. The supporting documentation,
				which need not be submitted to the Department unless requested, shall include
				the following:
(a) Name of
				custodian;
(b) Property
				identification number, description of item, date acquired, and cost;
(c) Dates of the two physical inventories in
				which the missing property could not be located;
(d) An explanation as to why it is necessary
				to adjust the property records (lost, stolen or otherwise unaccounted for
				items);
(e) A copy of an
				investigative report from the proper law enforcement authority if the item was
				reported stolen;
(f) A brief
				description of action taken to locate or recover the item;
(g) Information as to whether the item was
				covered by insurance, whether a claim was filed, and, if so, the disposition of
				the claim; and
(h) A description of
				any procedural change implemented to prevent future loss.