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Title: 3. SURPLUS PROPERTY RETIREMENT REPORT Requested Action: THAT THE DUVAL COUNTY SCHOOL BOARD DECLARE ALL ITEMS IDENTIFIED ON THE ATTACHED LIST AS SURPLUS, AUTHORIZE REMOVAL OF THESE ITEMS FROM THE DISTRICT’S PROPERTY RECORDS, AND AUTHORIZE DISPOSAL OF THIS PROPERTY (AS WELL AS OTHER PROPERTY UNDER $750 WHICH DOES NOT APPEAR ON PROPERTY RECORDS) BY THE METHOD MOST BENEFICIAL TO THE BOARD. Summary Explanation and Background: Summary Explanation and Background: Requests for the above-recommended action have been received from property custodians and designated administrative review personnel. All equipment will be disposed of in the best interest of Duval County School Board, using one of the methods A through F listed below. A. Items may be sold through the School Board Surplus Property sale. Sales will only be made to individuals and agencies that are in compliance with Title VI of the Civil Rights Act 1964. B. Items may be cannibalized for spare parts utilization and any unusable remains be recycled, sold as scrap, or deposited in a land-fill facility. C. Items and/or parts may be utilized as needed in Vocational Education repair courses taught at the secondary schools. D. Items may be sold through a closed bid sale in compliance with the procedure established by the School Board Purchasing Policies. E. Items may be used as trade-ins toward credit on purchases or installment purchases when in the best interest of the School Board. F. Items may be disposed of in the best interest of the School Board. G. The values listed for the property represents the cost of these items on the purchase date and in no way reflects their current value. Using the IRS approved depreciation tables (5-year straight line), the values are significantly diminished and therefore, actual loss reduced. For example: IBM Computer 1996 Purchase Price $1,800 Depreciated Value $360 Mixer (Hobart) 1995 Purchase Price $ 850 Depreciated Value $ 0 As GASB 34 indicates, reports include the depreciated value of reportable items to provide a more clear evaluation of these values, lost, retired, or unavailable for inventory New Century Commission Recommendation/OPPAGA Recommendation/Council of Great City Schools Recommendation: Attachments (list): Financial Impact (Including HR/headcount/Source of Funds): For Additional Information, contact: For Additional Information, contact: Mr. John Radcliffe, Director, Technical and Logistic Services, 390-2258
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