+ OMB Circular A-123 (Appendix B): Improving ... - The White House

Chapter 13 – Management of Property Acquired by a Purchase Card
Questions
Page
13.1 Why is effective management of property acquired by a purchase card important? ......................................... 39
13.2 What Government policies address property management? .............................................................................. 39
13.1 Why is effective management of property acquired by a purchase card important?
Each year the government acquires billions of dollars worth of property with the purchase cards.
Agencies must have reasonable, effective internal controls so that this property can be accounted
for, and so that use of this property is limited to official purposes.
13.2 What Government policies address property management?
Cardholders and/or custodians must be familiar with, and follow, their agency policies governing
property management, which shall implement Federal governmentwide policies. The
Administrator of the General Services Administration shall issue Federal governmentwide policy
and guidance to agencies on the receipt and use of Federal property in consultation with Federal
agency customers, when appropriate.
Because property acquired by the purchase card and/or convenience check is frequently
delivered directly to the cardholder or the end-user (inside delivery), each agency must issue
policies and procedures to ensure effective management of this property. At a minimum, agency
policies and procedures must address:
• The determination of items to be classified as “sensitive”, and the establishment of dollar
value thresholds for accountable property (See Glossary for the definition of “sensitive” and
“accountable” property), taking into account the risk of loss of data or sensitive information
on electronic items;
• A process of notifying the agency property management activity of property receipt,
including situations where property is delivered at locations other than a central receiving
facility;
• The process for the agency to record property in the agency property tracking system and
financial systems, including the designation of property as sensitive or accountable, when
applicable;
• The documentation of independent receipt and acceptance, when appropriate, to ensure that
items purchased were actually received, including procedures addressing remote locations
and emergency/urgent purchases where independent acceptance may be difficult or
impossible; and
• Procedures for cardholders and/or custodians of the property to follow when property is
determined to be missing, stolen, or damaged.
Appendix B
OMB Circular A-123
(Revised January 2009)