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ITEM: AUTHORIZATION TO DISPOSE OF SURPLUS TANGIBLE PERSONAL PROPERTY
REQUEST: Authorization to dispose of FY 2019 surplus tangible personal property.
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EXPLANATION: In preparation for the annual audit, the Village conducts an annual inventory of all assets. The following is a summary of twenty-nine (29) 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). The initial total purchase cost of these items was $494,260.19 with an accumulated total depreciation of $489,634.19, resulting in a current value of $4,626.00 (summary attached as Exhibit A).
Twenty-six (26) assets (vehicles, heavy equipment and computer equipment) will be sold through GovDeals, the Village's approved public auction vendor; the remaining four (4) items will be scrapped.
METHOD OF DISPOSAL
Selling
Scrapping
Previously Sold
Total Surplus
Acquisition Cost of Items
$470,147.32
$19,089.37
$5,023.50
$494,260.19
Accumulation Depreciation
$465,521.32
$19,089.37
$5,023.50
$489,634.19
TOTAL NET VALUE
$4,626.00
-0-
-0-
$4,626.00
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 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, replacement is recommended. This process, including the various methods of disposition, is pursuant to the Village's Purchasing and Procurement Policy and is consistent with Florida Statues.
Staff requests authorization to dispose of FY 2019 surplus tangible personal property.
BUDGET AMENDMENT REQUIRED: NO
PUBLIC HEARING: NO QUASI-JUDICIAL:
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