Florida Administrative Code
69 - DEPARTMENT OF FINANCIAL SERVICES
69I - Division of Accounting and Auditing
Chapter 69I-71 - ADJUSTMENT FOR UNACCOUNTED FOR PROPERTY AND ADJUSTMENT, SETTLEMENT AND RECOVERY OF ACCOUNTS RECEIVABLE OF LOCAL GOVERNMENTAL UNITS
Section 69I-71.003 - Procedure for Adjustment for Unaccounted for Property

Universal Citation: FL Admin Code R 69I-71.003

Current through Reg. 50, No. 187; September 24, 2024

(1) Each governmental unit shall be responsible for maintaining proper records and controls over its property.

(2) Upon unaccounted for property being reported to the Department, the Department will notify the governmental unit in writing and direct the governmental unit's attorney to represent the governmental unit in enforcing settlement, subject to approval by the Department, or enforcing payment or delivery of such property pursuant to section 17.041(2), F.S.

(3) Approval by the Department is not required for the adjustment of the property records by a governmental unit for unaccounted for property that has not been reported to the Department. Governmental units should establish proper controls and procedures for adjusting the property records for unaccounted for property that has not been reported to the Department.

(4) Unaccounted for property that has been reported to the Department may be adjusted on the property records of a governmental unit only with the prior approval of the Department. Approval will not be given if the request does not contain information which shows that the governmental unit made a reasonable effort to account for the property and that the expenditure of additional resources of the governmental unit to attempt to account for the property would not be in its best interest.

(5) Each request to the Department to adjust property records must be in the form of a resolution, stating that the proposed adjustment is contingent upon the Department's approval. The resolution or a copy thereof must be submitted to the Department of Financial Services, Bureau of Accounting, 200 East Gaines Street, Tallahassee, Florida 32399-0354.

(6) The resolution shall list the items to be adjusted in the property records and shall indicate that such items have been reported missing in the two most recent physical inventories. The resolution shall describe any actions taken by the governmental unit's attorney to account for the property and if no actions were taken, the reasons therefor.

(7) Each resolution submitted shall contain a statement that supporting documentation is on file with the governmental unit and is available for postaudit by the Department. The supporting documentation, which need not be submitted to the Department unless requested, shall include the following:

(a) Name of custodian;

(b) Property identification number, description of item, date acquired, and cost;

(d) An explanation as to why it is necessary to adjust the property records (lost, stolen or otherwise unaccounted for items);

(e) A copy of an investigative report from the proper law enforcement authority if the item was reported stolen;

(f) A brief description of action taken to locate or recover the item;

(g) Information as to whether the item was covered by insurance, whether a claim was filed, and, if so, the disposition of the claim; and

(h) A description of any procedural change implemented to prevent future loss.

(8) The Department will review the resolution and advise the governmental unit of its decision regarding the request.

Rulemaking Authority 17.29 FS. Law Implemented 17.041 FS.

New 2-23-95, Formerly 3A-71.003.

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