Document aids property management

A draft document from the Joint Financial Management Improvement Program may help guide agencies assessing property management systems or looking to acquire new ones.

JFMIP's Property Management Systems Requirements defines governmentwide standards for systems that capture or generate information on an agency's property assets. The document covers three types of property:

* Capitalized property, which includes land, museum collections, major computer systems or any other asset that agencies spread the cost over its useful lifetime.

* Expensed property, which includes small-ticket items such as typewriters or handheld weapons that could be stolen.

* Donated property.

Tracking information about property will help agencies with their strategic planning. The JFMIP document provides the baseline functionality that property management systems must have in order to support agency missions and comply with laws and regulations.

To obtain a copy of the draft document, click here.

Comments are due to JFMIP by May 31.