Section 114-60.4 -- Classification of Property

Section Subject
114-60.400 Responsibility
114-60.401 Classification Criteria


114-60.400 -- Responsibility

Each bureau and office shall classify all items of personal property under its jusridiction as expendable or non-expendable as defined in Subpart 114-60.100 of this Part.

  1. Non-expendable property shall be further classified to indicate whether it is system-controlled, bureau-managed, capitalized, sensitive, accountable, or stores property.
  2. The PMO shall issue instructions to ensure personal property is classified in a uniform manner and in accordance with the provisions of this Subpart. This requirement contemplates that:
    1. A listing of the non-expendable property items commonly used by the bureau/office will be developed indicating the classification placed on each item or each group of items;
    2. The listing will be updated as new items not previously classified are acquired; and
    3. The listing will be issued for use by all bureau/office Accountable Officers and their property management staffs.

114-60.401 -- Classification Criteria

To determine the proper classification of items of non-expendable property, consider such factors as acquisition cost, expected useful life, nature of use, sensitivity, cost of maintaining accountability and/or responsibility records compared with cost of possible increased losses if such records are not maintained, and any other factors which may affect the classification. The classification will determine the type of inventory control and accounting records required.

  1. Sensitive property shall also be classified as system-controlled property regardless of the original acquisition cost.
  2. All museum property is controlled through accessioning and cataloging procedures, regardless of value.

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