The purpose and effect of this rulemaking is to update certain definitions to agree with generally accepted accounting principles, to increase the current thresholds for recording tangible personal property inventory, to add the term “attractive ...

 

DEPARTMENT OF FINANCIAL SERVICES

Division of Accounting and Auditing

RULE NOS.:RULE TITLES:

69I-72.001Definitions

69I-72.002Threshold for Recording Tangible Personal Property for Inventory Purposes

69I-72.003Recording of Property

69I-72.007Capitalization of Property

PURPOSE AND EFFECT: The purpose and effect of this rulemaking is to update certain definitions to agree with generally accepted accounting principles, to increase the current thresholds for recording tangible personal property inventory, to add the term “attractive items” and its definition, and to make other updates to the rules as necessary.

SUBJECT AREA TO BE ADDRESSED: State-owned tangible personal property

RULEMAKING AUTHORITY: 273.02, 273.025, 273.055 FS.

LAW IMPLEMENTED: 273.01, 273.02, 273.025, 273.03, 273.04, 273.05, 273.055 FS.

IF REQUESTED IN WRITING AND NOT DEEMED UNNECESSARY BY THE AGENCY HEAD, A RULE DEVELOPMENT WORKSHOP WILL BE NOTICED IN THE NEXT AVAILABLE FLORIDA ADMINISTRATIVE REGISTER.

THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE DEVELOPMENT AND A COPY OF THE PRELIMINARY DRAFT, IF AVAILABLE, IS: Danta White, Chief of Financial Reporting, Division of Accounting and Auditing, Department of Financial Services, 200 East Gaines Street, Tallahassee, Florida 32399-0318, [phone], [e-mail].

THE PRELIMINARY TEXT OF THE PROPOSED RULE DEVELOPMENT IS AVAILABLE AT NO CHARGE FROM THE CONTACT PERSON LISTED ABOVE.