BOP Program Statement 2350.02 § 2

policy previously set forth in the Program Statement on

Accounting for Real Property and Depreciation and the Program

Statement on Buildings and Facilities Projects Closure.

This revision:

# changes the useful life for leasehold improvements,

# removes the need for manual depreciation schedules and

calculations and requires the use of the SENTRY Real

Property Management System (SRPMS),

# provides guidance on how to transfer construction-work in

progress costs to the current year S&E appropriation,

# requires assets to be recognized in the general ledger in

the month they are put-in-use,

# requires the Facility Manager and Controller to determine at

the beginning of a project if the costs will be capitalized

or expensed,

# requires B&F and AFF projects’ non-capitalized construction,

maintenance, salary, and operating costs to be expensed

during September prior to the end of each fiscal year,

# adds procedures for locations to account for real property

and expenses from projects funded at the Central and

Regional Offices,

# adds procedures for locations to account for real property

and expenses funded from the Trust Fund appropriation,

# updates general ledger accounts to the Standard General

Ledger (SGL) format,

P2350.02

6/22/2004

Page 3

# updates procedures and transactions to conform with the

Financial Management Information System (FMIS) accounting

system,

# adds procedures relating to the SENTRY Real Property

Management System (SRPMS), and

# adds procedures for requesting prior period adjustments.