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Division Director

Christina Smith

Assistant Director

Rick Sweet


Accounting and Auditing
200 East Gaines Street
Tallahassee, FL 32399-0318

(850) 413-5510
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DATE: June 30, 1999
TO: Agency Addressed (No. 22, 1998-99)
FROM: Douglas A. Darling, Director 
Division of Accounting & Auditing 
Office of Comptroller
SUBJECT: AMENDMENT TO OPERATING CAPITAL OUTLAY DEFINITION

Effective July 1, 1999, the definition of operating capital outlay (OCO) as provided in Chapter 216, Florida Statutes, is amended. The dollar value of OCO increases from $500 to $1,000 for equipment, fixtures, and other tangible personal property of a nonconsumable and nonexpendable nature. In addition, the value of hardback-covered bound books increases from $100 to $250. 

Encumbrances and accounts payable which are approved by the Office of Planning and Budgeting as a certified forward obligation in a particular category as of June 30, 1999, will be allowed to be expended in the category in which approved. It will not be necessary to change the categories on certified forwards obligations to comply with the new definition. 

Also effective July 1, 1999, Section 273.02, Florida Statutes, is amended to reflect the dollar values stated above for the purposes of recording inventory in the property records. No changes on the part of FLAIR users are required concerning the recording of property in the property subsystem. If an agency wishes to automate the removal of property records with a value less than $1,000 from their property subsystem, please send a letter to Raymond Marsh at the following address: 

Raymond Marsh, Director 
Division of Information Systems 
Office of Comptroller 
Room 226, Fletcher Building 
Tallahassee, Florida 32399-0350

If you have any questions or need additional information, please contact Bob Spooner at 410-9194 or Suncom 210-9194.