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Florida Administrative Code (Last Updated: November 11, 2024) |
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69. Department of Financial Services |
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69I. Division of Accounting and Auditing |
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69I-72. State-Owned Tangible Personal Property |
1All tangible personal property with a value or cost of $5,000 or more and having a projected useful life of one year or more shall be recorded in the state’s financial system as property for inventory purposes. 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 shall be recorded in the state’s financial system as property for inventory purposes. For the purpose of this rule chapter, “cost” is used if the property is purchased and represents the purchase price of the property item; “value” is used if the property is donated and represents the worth or acquisition value of the property item at the date of donation. Attractive items with a value or cost of less than $5,000 shall be recorded in the state’s financial system as property for inventory purposes.
173Rulemaking 174Authority 175273.02 FS. 177Law Implemented 179273.02 FS. 181History–New 1-13-08, Amended 7-1-20.
