11-22-2016 Organization of the Board with Oath and Regular School Board Meeting
Agenda Item #22


Title
Request to Remove Stolen, Missing and Obsolete Assets Resulting from Review of Assets

Discussion

Following a review of our asset records, we became aware of a number of items that were known to be stolen, obsolete, and missing that had not been removed from the District's asset records.  Staff has gone over all of our records and put together a list of all assets that were identified as stolen, obsolete and/or missing in 2015 or earlier. 

 

In order for the District's financial records to properly reflect the assets owned and in use by the District, we are requesting approval by the Board to remove these items from the District's asset records.  

 

The attached list represents the following:

 

1.      Stolen or Vandalized - represents items for which an incident was reported by a school or department and a police report or incident report was obtained in Accounting Services as proof of removal.

2.      Aged or Obsolete Items - represents items that are either broken, nonfunctional or provide no economic benefit or usefulness to the district.

3.      Missing/Un-Locatable Items - represents items that could not be located within a reasonable period of time during the school/department annual physical inventory.  Items must be un-locatable for two consecutive annual physical inventory counts.



Recommendation

Authorize the retirement and removal of assets as delineated on the attached list, as prescribed in state statutes, federal guidelines, Board policy and District procedures.

Disposals by Category:

 

 

 

Category

Quantity

Acquisition Cost

Depreciated (Book) Value

Stolen

4

$    21,490.80

$              -  

Obsolete

162

415,693.43

                -  

Missing

139

647,112.03

421.39

TOTAL

305

1,084,296.26

421.39

 



Meeting Date(s)
Information - 10/25/2016
Consent after Information11/22/2016

Authority for Action
Board policy #7310, Florida Statutes 274.05 and 274.06

Involves Expenditure of Funds Directly in the Classroom
No

Source of Funding
Agenda Item will not Require the Expenditure of Funds

FY
Amount
Budgeted
Fund
Cost Center
Project
Function
Object
Program

Contact
Pennie L. Zuercher, Chief Financial Officer, ext. 600


Attachment:  10-25-2016 Memorandum.pdf
Attachment:  Property Disposal - Retirement List for 10-25-2016.pdf