following are types and classes of expendable property. D. Personal Property. Any student-athlete who withdraws from the University or is otherwise removed from his or her team(s) must return all Non-Expendable Equipment he or she was issued. The phrases "controlled property" and "accountable property" are used interchangeably in USGS. This applies to privately sold programs, program products offered for sale by vendors, and no-charge software provided by vendors. 471, et seq. (g) Providing guidance to Custodial Property Officers. C. Museum Property. Learn new Accounting Terms EXPOSURE DRAFT is a proposed statement of financial accounting standards issued by the FASB for public comment. A. Accountable Property. A. (1) Supplies consumed in the maintenance and upkeep of the public service. Authorities. Any property, except records of the Federal Government and real property. Accountability, control, and responsibility for all property owned or leased by the Government must be maintained from the time of receipt until disposal. OPR: Admin/Facilities and Management Services. Commonly, the title remains with the owner and its use is allowed with the stipulation that no disclosure of the program or software can be made to any other party without prior agreement between the owner and the user. (2) The Accountable Property Officers (APO's) are designated in writing by the Property Administrator and are charged with the following responsibilities: (a) Accountability and control of personal property within his/her designated area; (b) Designation and appointment, in writing, of Custodial Property Officers, if necessary; (c) Maintenance of property accountability records in his/her area of accountability; (d) Inspections to ensure that property is being used effectively and safeguarded properly, and to ensure the proper and effective maintenance of property; (e) Coordination of the utilization and disposal of excess personal property; (f) Providing for the conduct of required physical inventories; written certification of the inventory results; and ensuring that adequate documentation is provided to resolve any discrepancies; and. Preface: To be inserted preceding the text of the FAR clause. The Accountable Property Officer (APO) for Government property in the custody of contractors, grantees, borrowers, concessionaires, and cooperators, shall be the Contracting Officer, Grant Officer, or other management official administering the contract, grant, loan, or legal instrument which authorizes the custody of Government property. (1) The term Government-furnished property, wherever it appears in the following clause, shall mean (i) non-expendable personal property owned by or leased to the U.S. Government and furnished to the contractor, and (ii) personal property furnished either prior to or during the performance of this contract by any U.S. Government accountable officer to the contractor for use in connection with performance of this contract and identified by such officer as accountable. The CE to whom the equipment is assigned by the CPO has the primary and ultimate responsibility for its protection and proper use, as well as for other responsibilities described in 408.2.5E(4), above, and will be held financially liable for missing and damaged items when negligence is a factor, as determined by a board of survey. (3) Non-expendable personal property, for purposes of this contract, is defined as personal property … All contents of the lawinsider.com excluding publicly sourced documents are Copyright © 2013-. Only permanent full-time or part-time employees shall be designated as Custodial Property Officers (CPO's). 6. (e) Providing guidance to Accountable Property Officers (APO's) within his/her area of jurisdiction. of less than 0 and not otherwise classified as nonexpendable or durable. The Custodial Property Officer (CPO) for such property shall be the Contracting Officer's Representative (COR). The. I attest that (1) physical inventories of Government property are taken not less frequently than annually; (2) the accountability records maintained for Government property in our possession are in agreement with such inventories; and (3) the total of the detailed accountability records maintained agrees with the property value shown opposite line C above, and the estimated average age of each category of property is as cited opposite line D above. Procedures. H. Any employee having custody of Government-owned property may be held financially liable for loss of, or damage to, the property, when such loss of, or damage to, such property is as a result of negligence on the part of the employee, as determined by a Board of Survey. USAID contracts, except those for commercial items, must contain the following preface and reporting requirement as additions to the appropriate Government Property clause prescribed by (48 CFR) FAR 45.107, per a GAO audit recommendation. I. 1 Non-expendable property and all mobile IT equipment. F. Proprietary Software. C. Accountability records shall be established and maintained for all Government-owned property which is in the custody of a contractor, grantee, or other non-Federal recipient in accordance with the terms of any legal instrument. (d) All CE's perform an annual inventory, as well as an inventory prior to transfers within or separation from the USGS, and account for all items assigned to them. Capitalized Property. A. F. Employee-owned property may not be used in the performance of official duties, unless specific authority is granted by the head of the Bureau, or his/her designee (IPMR 114-60.201(d)(2). All non-expendable property having an acquisition cost of $50 or more and all sensitive items regardless of cost are considered accountable property and detailed records are maintained therefor in the USGS property management database. Museum property is not capitalized. E. APPENDIX B outlines the formal system of personal property accountability for each division within the USGS: (1) The Property Administrator (PA) is designated in writing by the Director and is responsible for the following within his/her designated organizational area: (a) Overall administration, coordination and control of the property management program, and ensuring the required property accountability records are maintained and required reports are submitted; (b) Implementation of policy and procedures, and providing guidance to subordinate or serviced organizational elements; (c) Ensuring that all actions are taken to protect the integrity of the property management program, and that Government property is managed in a manner that provides optimum protection against fraud, waste, and abuse; (d) Providing oversight of the property management program and disseminating information to subordinate or serviced organizational components; and.

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