…title
ITEM: AUTHORIZATION TO DISPOSE OF SURPLUS TANGIBLE PERSONAL PROPERTY
REQUEST: Authorization to dispose of FY 2020 Year End surplus property.
…body
EXPLANATION: Thirty-two (32) surplus items of tangible personal property (TPP) or fixed assets meeting disposition criteria per the Village’s Purchasing and Procurement Policy (Chapter 13, Section D) are in need of disposal as they have reached their useful life. All items will be sold if possible. A majority of the items are assets from the Utility Department.
As the Water Treatment Plant upgrade and expansion continues to replace older obsolete equipment with the new equipment, the need to remove and dispose of these large items is necessary.
The initial cost of these items was $189,152.39 and all items have fully depreciated (summary attached as Exhibit A). Some of the heavy equipment does not include a purchase cost because they were purchased and installed as part of previous Capital Improvement projects.
All thirty-two (32) assets (heavy equipment and vehicles) will be sold through GovDeals, the Village’s approved public auction vendor.
|
METHOD DISPOSAL |
|
|
Selling |
Total Surplus |
|
Acquisition Cost |
$189,152.39 |
$189,152.39 |
|
Accumulation Depreciation |
$189,152.39 |
$189,152.39 |
|
Total New Value |
$0 |
$0 |
Surplus TPP or fixed assets are identified annually as part of the Village-wide departmental inventory and condition assessment. A master list of these fixed assets, verified by OFMB, is categorized as no longer useful or to be exchanged for a new purchase/replacement.
The Utility Department evaluated the heavy equipment proposed for disposition, and determined that due to their age, condition and high cost of maintenance, replacement is recommended during the rehabilitation of the plants. This process, including the various methods of disposition, is pursuant to the Village’s Purchasing and Procurement Policy and is consistent with Florida Statutes.
Staff requests authorization to dispose of FY 2020 surplus tangible personal property.
BUDGET AMENDMENT REQUIRED: NO
PUBLIC HEARING: NO QUASI-JUDICIAL:
FIRST READING: SECOND READING:
LEGAL SUFFICIENCY: YES
FISCAL IMPACT: Revenues are anticipated as a result of surplus tangible personal property sold.
WELLINGTON FUNDAMENTAL: Responsive Government
RECOMMENDATION: Authorization to dispose of FY 2020 Year End surplus property.