Accountable Personal Property
Accountable Personal Property is nonexpendable personal property whose expected useful life is two years or longer and whose acquisition value, as determined by the agency, warrants tracking in the agency’s property records, including capitalized and sensitive personal property. See definitions at FMR 102-35.20.
Each agency is responsible for reviewing its agency mission and setting an accountable threshold that meets that mission. Each agency is responsible for determining the appropriate office within the agency to conduct this review.
PL 115-419, the Federal Personal Property Management Act of 2018, requires agencies to regularly conduct inventories and assessments of accountable personal property. Agencies are responsible for managing and maintaining records for their accountable property. Agencies are responsible for periodically reviewing accountable thresholds to ensure their continuing relevance Each agency is responsible for determining the appropriate office within the agency to conduct this review. See PL 115-419, Federal Personal Property Management Act of 2018.
Capitalized Personal Property
Capitalized personal property is personal property entered on an agency’s general ledger records a major investment or asset Each agency is responsible for setting a capitalization threshold that also meets that mission. See PL 115-419, Federal Personal Property Management Act of 2018.
Each agency is responsible for reviewing its agency mission and setting a capitalization threshold that meets that mission. Each agency is responsible for determining the appropriate office within the agency to conduct this review.
Agencies are responsible for managing and maintaining records for their capitalized property. Agencies are responsible for periodically reviewing capitalization thresholds to ensure their continuing relevance.
U.S. General Services Administration