Florida Regulations 69I-73.006: Inventory of Property.
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(1) Physical Inventory Required – Each governmental unit shall ensure a complete physical inventory of all property is taken annually and whenever there is a change of custodian or change of custodian’s delegate.
(2) Inventory Forms – The form used to record the physical inventory pursuant to Florida Statutes § 274.02(2), shall be at the discretion of the governmental unit. However, the form shall display at a minimum for each property item, the following information:
(a) Date of inventory.
(b) Identification number.
(c) Existence of property item (or not).
(d) Physical location (the city, county, address or building name and room number therein).
(e) Present physical condition.
(f) Name and signature of the employee or other individual attesting to the existence of the item.
(g) In the case of a property group, the number and description of the component items comprising the group.
(3) Electronic scanning format used for the identification number is acceptable only if the recorded data is downloadable to a computer and can then be used to generate reports that will include all information required on the hardcopy inventory form.
(4) Unrecorded Property – Any property item found during the conduct of an inventory which meets the requirements for accounting and control as defined in Fl. Admin. Code R. 69I-71.003, and which item is not included on the inventory forms described above, shall have an inventory form created for the item when located. After appropriate investigation to establish the ownership of the item, it shall be added to the governmental unit’s property records or, if ownership cannot be reasonably established, the item may be disposed of in the manner provided by law as applicable to surplus property, pursuant to section 274.05 and 274.06, F.S.
(5) Custodian Delegate Shall Not Inventory Certain Items – The custodian delegate shall not personally inventory items for which they are responsible.
(6) Reconciliation of Inventory to Property Records – Upon completion of a physical inventory:
(a) The data listed on the inventory forms shall be compared with the individual property records. Noted differences such as location, condition and custodian shall be investigated and corrected as appropriate or alternatively, the item shall be relocated to its assigned location and custodian in the individual property record.
(b) Items not located during the inventory process shall be promptly reported to the governmental unit which shall cause a thorough investigation to be made. If the investigation determines that the item was stolen, the individual property record shall be so noted, and a report filed with the appropriate law enforcement agency describing the missing item and the circumstances surrounding its disappearance.
(7) Unaccounted for Property – For items identified as unaccounted for and reported to the State’s Chief Financial Officer, recording of the items as dispositions, or otherwise removing of the items from the property records, shall be subjected to approval of the State’s Chief Financial Officer, as provided in Florida Statutes § 17.041, and Fl. Admin. Code R. 69I-71.003
Rulemaking Authority 274.02 FS. Law Implemented Florida Statutes § 274.02. History-New 3-25-08.
(a) Date of inventory.
(b) Identification number.
(c) Existence of property item (or not).
(d) Physical location (the city, county, address or building name and room number therein).
(e) Present physical condition.
(f) Name and signature of the employee or other individual attesting to the existence of the item.
(g) In the case of a property group, the number and description of the component items comprising the group.
(3) Electronic scanning format used for the identification number is acceptable only if the recorded data is downloadable to a computer and can then be used to generate reports that will include all information required on the hardcopy inventory form.
(4) Unrecorded Property – Any property item found during the conduct of an inventory which meets the requirements for accounting and control as defined in Fl. Admin. Code R. 69I-71.003, and which item is not included on the inventory forms described above, shall have an inventory form created for the item when located. After appropriate investigation to establish the ownership of the item, it shall be added to the governmental unit’s property records or, if ownership cannot be reasonably established, the item may be disposed of in the manner provided by law as applicable to surplus property, pursuant to section 274.05 and 274.06, F.S.
(5) Custodian Delegate Shall Not Inventory Certain Items – The custodian delegate shall not personally inventory items for which they are responsible.
(6) Reconciliation of Inventory to Property Records – Upon completion of a physical inventory:
(a) The data listed on the inventory forms shall be compared with the individual property records. Noted differences such as location, condition and custodian shall be investigated and corrected as appropriate or alternatively, the item shall be relocated to its assigned location and custodian in the individual property record.
(b) Items not located during the inventory process shall be promptly reported to the governmental unit which shall cause a thorough investigation to be made. If the investigation determines that the item was stolen, the individual property record shall be so noted, and a report filed with the appropriate law enforcement agency describing the missing item and the circumstances surrounding its disappearance.
(7) Unaccounted for Property – For items identified as unaccounted for and reported to the State’s Chief Financial Officer, recording of the items as dispositions, or otherwise removing of the items from the property records, shall be subjected to approval of the State’s Chief Financial Officer, as provided in Florida Statutes § 17.041, and Fl. Admin. Code R. 69I-71.003
Rulemaking Authority 274.02 FS. Law Implemented Florida Statutes § 274.02. History-New 3-25-08.