The role of Construction Accounting is to establish accounting guidelines for all University remodeling, renovations, and new building construction that are consistent with State, Federal and generally accepted accounting principles. Each University is responsible for recording, processing and reporting of construction transactions in accordance with applicable laws, rules and regulations.
Property and Inventory is responsible for recording, reconciling, identifying, accounting and disposing of University property. As per Section 273.02 of Florida Statutes, "property" means equipment, fixtures, and other tangible personal property of a non-consumable and non-expendable nature. Property forms are located on our website in the forms section.
In accordance with University Regulation FGCU-PR7.008D, the VP of Administrative Services has appointed a Surplus Property Survey Board to examine and make recommendations on approval or disapproval of the classification of University owned equipment as surplus. Surplus property shall not be sold, donated, cannibalized, traded-in or recycled without prior written authority form the Surplus Property Survey Board. The Property Survey Board meets once a month to review the method of disposal and the relief of accountability requests submitted by the departments. If the department wants to transfer items to their budget, complete a Property Transfer form. The department property manager or designated representative must visit the warehouse to verify the condition of the items requested, and to subsequently deliver the original Property Transfer form (with an authorized signature) to the Property Accountant. This property is free to the departments, however the department may be charged by the Work Management Center for any physical moves required in the transfer. All work orders and property transfers for moving items into and out of Surplus Property will be initiated and approved by the Property Department.
The Property Department does not warrant the working condition of items in the surplus inventory. It is the responsibility of the department representative to assess the working condition of the requested item(s) before transferring the item from Surplus to the department.
|Date||Tuesday, October 22, 2019|
|Location||Controller's Office Modular, Conference Rm|
PROCEDURES & FORMS
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