Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69I - Division of Accounting and Auditing › Chapter 69I-73 - TANGIBLE PERSONAL PROPERTY OWNED BY LOCAL GOVERNMENTS › Section 69I-73.003 - Recording of Property

Current through Reg. 50, No. 138; July 16, 2024
(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.