4849726, 69I-72.001 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 4849726

Notice of Proposed Rule

Department:

DEPARTMENT OF FINANCIAL SERVICES

Division:

Division of Accounting and Auditing

Chapter:

State-owned Tangible Personal Property

Overview

RULE:

69I-72.001	Definitions
69I-72.002	Threshold for Recording Tangible Personal Property for Inventory Purposes
69I-72.003	Recording of Property
69I-72.004	Marking of Property
69I-72.005	Certification of Surplus Property and Property Disposition
69I-72.006	Inventory of Property
69I-72.007	Capitalization of Property

PURPOSE:

The purpose of the proposed rules is to implement: (1) Section 273.02, F.S., which requires the Chief Financial Officer to adopt rules regarding the requirements for recording of state-owned tangible personal property in the state’s financial system and for the periodic review of such property for inventory purposes; and (2) Section 273.055, F.S., which requires custodians to maintain records to identify property items for disposition in accordance with rules issued by the Chief Financial Officer. The Auditor General's Office had been responsible for issuing such rules; however, Chapter 2006-122, Laws of Florida, transferred those responsibilities to the Chief Financial Officer. Chapter 2006-122, Laws of Florida, also created Section 273.025, F.S., which requires the Chief Financial Officer to adopt rules regarding the requirements for the capitalization of property that has been recorded in the state’s financial system.

SUMMARY:

The proposed rules specify recording and inventory requirements for state-owned tangible personal property and require that tangible personal property with a value or cost of $1000 or more to be capitalized.

RULEMAKING AUTHORITY:

273.02, 273.025, 273.055 FS.

LAW:

273.01, 273.02, 273.025, 273.03, 273.04, 273.05, 273.055 FS.

PRINT PUBLISH DATE:

11/16/2007 Vol. 33/46

COMMENTS:

From 11/16/2007 To 12/7/2007 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

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