69I-72.007, F.A.C.
69I-72.007. Capitalization of Property
Cite as Fla. Admin. Code r. 69I-72.007
For statewide financial reporting purposes, all tangible personal property with a value or cost of $5,000 or more and having a projected useful life of one year or more must be capitalized. Any hardback book with a value or cost of $25 or more and having a useful life of one year or more that is circulated to students or the general public, and any hardback book with a value or cost of $250 or more that is not circulated must be capitalized. Attractive items must not be capitalized for statewide financial reporting purposes.