BOP Program Statement 2350.02 § 1

property and plant, hereafter referred to as real property, and

associated depreciation.

Accounting for the Bureau’s real property must be in accordance

with the Statement of Federal Financial Accounting Standards

(SFFAS)No. 6, titled Accounting for Property, Plant, and

Equipment.

All real property is to be classified and recorded in the

appropriate general ledger account. The Facility Manager must

provide guidance as to the proper classification of real

property.

This Program Statement does not restate the requirements of SFFAS

No. 6, but establishes the Bureau criteria for capitalization and

depreciation of real property.

# Every site is required to maintain a copy of SFFAS No. 6 for

reference. All questions regarding SFFAS No. 6 or this

Program Statement are to be directed to the Accounting

Policies and Procedures Section, Finance Branch.

This states the procedures for closing projects financed under

the Buildings and Facilities (B&F), or Asset Forfeiture Fund

(AFF), appropriations and for transferring the costs of completed

projects to the capitalized asset accounts or the expense account

under the current Salaries and Expenses (S&E) appropriation.

In addition, it establishes procedures for closing projects and

recognizing capitalized assets in the Trust Fund appropriation.

P2350.02

6/22/2004

Page 2

Real property (buildings, other structures, improvements, etc.)

will be recognized and recorded in the general ledger as it is

put-in-use rather than when the B&F project is “closed” in the

accounting system.

For those locations which do not have a Controller, all

references to the Controller in this Program Statement refer to

that employee responsible for the budget and accounting

operation. The Regional Comptroller is referred to as the

Comptroller.