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ITEM: AUTHORIZATION OF DISPOSITION OF SURPLUS TANGIBLE PERSONAL PROPERTY
REQUEST: Authorization to approve FY 2015 disposition of surplus tangible personal property and removal of assets per the Village's new capitalization threshold.
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EXPLANATION: The following is a summary of thirty-eight (38) 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 (Exhibit A attached). The initial total purchase cost of these items was $608,746.07 with an accumulated total depreciation of $530,795.32, resulting in a current value of $77,950.75.
Twenty-five (25) fixed assets (vehicles and equipment) will be sold through GovDeals, the Village's approved public auction vendor. All computer equipment will be recycled, utilizing a state certified recycling vendor.
METHOD OF DISPOSAL
By Selling
By Recycling
By Scrapping
By Insurance
Total Surplus
Acquisition Cost of Items To Be Disposed
$496,433.71
$56,493.61
$23,500.75
$32,318.00
$608,746.07
Accumulated Depreciation
$449,527.28
$56,493.61
$23,500.75
$1,273.68
$530,795.32
TOTAL NET VALUE
$46,906.43
$0
$0
$31,044.32
(Received $34,068.90 from Insurance)
$77,950.75
Surplus TPP or fixed assets are identified annually as part of a 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 Public Works Department (Fleet Maintenance) evaluated the vehicles and heavy equipment proposed for disposition, and determined that due to their age, condition and high cost of maintenance, they need to be replaced. This process, including the various methods of disposition, is pursuant to the Village's Purchasing and Procurement Policy and is consistent with Florida Statutes.
In addition, The Village inc...
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