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U.S. Geological Survey Manual

U.S. Geological Survey Instructional Memorandum

No. OFM 98-02

Date: February 10, 1998

Subject: Capitalization Thresholds

1. Purpose. The purpose of this Instructional Memorandum (IM) is to define the U.S. Geological Survey (USGS) policy regarding the capitalization thresholds for both personal and real property assets of the USGS.

2. Background. Survey Manual chapter 408.2 prescribes policies, responsibilities, and procedures for the management of USGS personal property. Survey Manual chapter 427.1 prescribes policies, responsibilities, and procedures for the management of USGS real property.

3. Policy. It is the policy of the USGS to capitalize and record in the bureau General Ledger accounts for capitalized assets personal property with a per item acquisition cost of $5,000 or greater, and real property with an acquisition cost of $50,000 or greater.

4. Definitions.

5. Responsibilities.

6. Procedures. Procedures for acquiring, valuing, and recording assets are contained in the property management handbook (408-2-H).

7. Effective Date. This IM is effective upon date of issuance.

8. Cancellation Date. This IM will remain in effect until superseded or canceled.

John J. Blickley, Acting Chief
Office of Financial Management


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URL: http://www.usgs.gov/usgs-manual/im/ofm-98-2.html
Content Information Contact: jblickley@usgs.gov
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Last modification: 10-22-98(bt)