Section 69I-73.003 - Recording of Property(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.(h) Manufacturer's serial number(s).(i) If an automobile, the vehicle identification number (VIN) and title certificate number.(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.(4) Control Accounts - A governmental unit-wide control account showing the total cost or value of the custodian's property shall be maintained. A governmental unit may keep additional control accounts for property for different funds or sub-funds. Control accounts shall not be established by periodically summarizing the costs or values recorded on the individual property records. Entries to control accounts shall be derived from documents evidencing transactions affecting the acquisition, transfer or disposition of property items and shall be posted contemporaneously with entries to the individual property records.(5) Depreciation shall be recorded to meet local governments' financial reporting requirements relating to depreciation accounting. However, depreciation shall not be recorded on the individual property records or in control accounts in such a manner as to reduce the recorded acquisition cost or value (i.e., depreciation shall be recorded as an item separate from the acquisition cost).Fla. Admin. Code Ann. R. 69I-73.003
Rulemaking Authority 274.02 FS. Law Implemented 274.02 FS.
New 3-25-08, Amended by Florida Register Volume 46, Number 058, March 24, 2020 effective 10/1/2020.New 3-25-08, Amended 10-1-20.