Accountable personal property
Accountable personal property is property that is not used up quickly (lasts two or more years) and is valuable enough, according to the agency, to be tracked in the agency’s records. This includes capitalized or sensitive property. (See the official definitions at 41 CFR 102-35.20 Definitions).
Each agency must decide on an accountable threshold for personal property to be tracked, based on its mission. The agency also decides which office will conduct this review.
The Federal Personal Property Management Act of 2018 (PL 115-419) requires agencies to regularly count and check their accountable property. Agencies are responsible for managing and keeping records for this property. Agencies must also regularly review the minimum value they set for tracking property to make sure it is still appropriate. The agency decides which office will conduct this review.
Capitalized personal property
Capitalized personal property is personal property recorded in an agency’s general ledger records as a major investment or asset. Each agency is responsible for setting a capitalization threshold for property to be considered a major asset, based on its mission. All capitalized assets must be recorded in the agency’s financial system.
Important: All capitalized assets are accountable, but not all accountable assets are capitalized.
Each agency must decide on a capitalization threshold, based on its mission. The agency also decides which office will conduct this review.
Agencies are responsible for managing and keeping records for their capitalized property. Agencies must also regularly review the minimum value they set for capitalized property to make sure it is still appropriate.