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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 |
Effective on Wednesday, July 1, 2020
1For statewide financial reporting purposes, all tangible personal property with a value or cost of $5,000 or more and having a projected useful life of one year or more must be capitalized. 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 must be capitalized. Attractive items must not be capitalized for statewide financial reporting purposes.
96Rulemaking 97Authority 98273.025 FS. 100Law Implemented 102273.025 FS. 104History–New 1-13-08, Amended 7-1-20.
