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Where should the money resulting from the sale of surplus property be placed?

April 26, 2017money Placed Property sale surplus

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Where should the money resulting from the sale of surplus property be placed?

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Money received from the sale of surplus property should be placed into the General Fund, the Capital Outlay Fund or the fund in which inventoried. A separate inventory of fixed assets is maintained for the Food Service Fund. The revenue account code to be used is 5130 Sale of Surplus Property.