College Property Inventory (Policy 5.080)

Policy:

It is the policy of the Board that the President or designee shall account for all tangible personal property in accordance with Florida Statutes and State Board of Education Rules.  Procedures and systems shall be developed to ensure accountability and control, which include:

  1. All property items as defined in College Policy 5.081.  Each property record shall contain such information as shall be required by the Auditor General.
  2. Sequentially numbered decals affixed to each accountable property items.  Accountable property items are defined as items with a value or cost of $5,000 or more and projected useful life of one (1) year or more.
  3. Assigned custodial responsibility for furniture, machinery and equipment by department.
  4. An appropriate reporting process for adds, moves, changes, or deletions of college property.
  5. An annual physical inventory of accountable property.
  6. An annual physical inventory report of the results of the annual physical inventory presented to the District Board of Trustees.
  7. The President shall cause a procedure to be developed for the implementation of this policy.

Rulemaking Authority and Law(s) Implemented:  
Florida Statue 274.05, 274.06, 1001.64, 1001.65

History-Adopted - 7/1982 Revised 7/1992, 8/1995, 12/2004, 3/2009, 5/2013, 3/2024

Contact

Seminole State General Contact Information