HomeMy WebLinkAbout1996 04 22 Consent Item B
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COMMISSION AGENDA
ITEM B
REGULAR
CONSENT XX
INFORMATIONAL
April 22, 1996
Meeting
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Authorization
REQUEST: The Finance Department is requesting approval to change the level of accountability
of purchased assets to comply with State Auditor General Chapter 10.400, Section
274.02 Florida Statutes and Sec. 2-192, City Code of Ordinances.
PURPOSE: The purpose of this agenda item is to increase the base amount of accountability
for fixed asset from the current amount of$200.00 to $500.00 and to comply with Chapter
10.400 Rules of State Auditor General and Section 274.02 Florida Statutes.
CONSIDERA TIONS:
A. To eliminate the need to account for small ticket items that normally do not have a
long useful life of more than 5 years.
B. Up to now we have capitalized and accounted for everything purchased in the
category of Equipment with a value of two hundred dollars or more. This would
raise that base amount to five hundred dollars.
C. We spend a tremendous amount of time each year inventorying Fixed Assets, not
having to trace where these small items have been moved to will reduce the time
required to inventory fixed assets.
D. We would remove from the Fixed Asset Records all items currently accounted for
under the Five Hundred Dollar amount.
FUNDING:
A. No additional expenditure of City funds is required.
B. These items would be Budgeted and charged against Operating Supplies.
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RECOMMENDA TION:
1. Recommend approval of request to bring City policy into conformity with State
Auditor General Rules.
IMPLEMENTA TION SCHEDULE:
Upon approval of City Commission
COMMISSION ACTION: