All USGS Emp: Clarification About Property Accountability Date: Fri, 06 Aug 1999 10:18:14 -0400 To: "USGS Employees" From: " All Employee email, Reston, VA" Subject: All USGS Emp: Clarification About Property Accountability Instructions and policy statements issued recently concerning the change in the personal property capitalization threshold, (from $5,000 to $15,000), have apparently caused a good deal of confusion in many offices. It is important that all individuals involved in the requisitioning, ordering, obligating, and tracking of Government personal property understand that there is a distinction between accountable and capitalized personal property. Accountable personal property is Government personal property for which formal personal property records must be maintained in accordance with regulations issued by the General Services Administration (GSA) and the Department. The U.S. Geological Survey's accountability threshold for owned, non-sensitive, personal property is $5,000, which is the maximum allowed by Departmental regulations and is not being changed at this time. Property accountability responsibilities are not affected in any way by the increase in the personal property capitalization threshold to $15,000. Capitalized personal property is Government personal property which is posted to the U.S. Geological Survey's general ledger and becomes incorporated into the bureau's net worth. U.S. Geological Survey capitalization procedures are governed by accounting regulations issued by the General Accounting Office (GAO) and by the Department. The U.S. Geological Survey's personal property capitalization threshold is now $15,000; this is important to those employees who must know the proper object classes in order to obligate purchasing documents, etc. For additional guidance on the capitalization threshold change as it pertains to obligating personal property purchases, see http://www.usgs.gov:8888/ops/finance/faqs.html#persprop. If you have any questions concerning property accountability, please access the Program Support pages pertaining to property management, at http://www.usgs.gov:8888/ops/oms/pp1.html, or contact Melissa Courtney, on (703) 648-7322, mcourtne@usgs.gov, or Dan Weiss, on (703) 648-7325, dweiss@usgs.gov, or your regional Property Management Section offices in Denver and Menlo Park, for assistance. Thank you. Melissa Courtney Property Management Branch mcourtne@usgs.gov (703) 648-7322