Common use of Annual Property Inventory Clause in Contracts

Annual Property Inventory. The School shall adhere to the requirements pertaining to tangible personal property as set forth by the Florida Administrative Code 69I-73.006, including an annual inventory of tangible personal property. Any tangible personal property owned by the Sponsor and located at the School may be inventoried at any time, without notice. The School shall provide the Sponsor with a copy of all annual tangible personal property inventory audit reports. The School shall not sell or dispose of any property received from the Sponsor without the written permission of the Sponsor.

Annual Property Inventory. The School shall adhere to the requirements pertaining to tangible personal property as set forth by the Florida Administrative Code 69I-73.006, including an annual inventory of tangible personal property, except for requirements for approval by the State Chief Financial Officer. Any tangible personal property owned by the Sponsor and located at the School may be inventoried at any time, without notice. The School shall provide the Sponsor with a copy of all annual tangible personal property inventory audit reports. The School shall not sell or dispose of any property received from the Sponsor without the written permission of the Sponsor.