4111 CONTENTS OF PROPERTY CONTROL RECORDS

4111.1 Official District property records shall identify all District property and provide a complete, current, auditable record of all transactions.

4111.2 The contractor's property control records shall provide the following basic information for every item of District property in the contractor's possession regardless of value:

(a) The name, description, and commodity code;

(b) Quantity received, issued, and on hand;

(c) Unit price;

(d) Contract number;

(e) Location;

(f) Disposition; and

(g) Posting reference and date of transaction.

4111.3 Costs incurred by the contractor or the District for new construction including erection, installation, or assembly of District real property in possession of the contractor shall be capitalized in the official District property records and financial accounts maintained by the contractor for the District.

4111.4 Costs incurred for additions, expansions, extensions, conversions, alterations, and improvements, including applicable portions of capital maintenance, that increase the value, life, utility, capability, or serviceability of District real property shall be capitalized.

4111.5 Costs incurred for portable buildings or facilities specifically constructed for tests that involve destruction of the facility shall not be capitalized in the District real property records or financial accounts.

4111.6 Costs incurred for maintenance, repair, or rearrangement to maintain the District's real property in good physical condition, utility, capacity, or serviceability shall be charged to expense, and the real property records shall not be affected.

4111.7 When District-owned real property is sold, transferred, donated, destroyed by fire or other cause, abandoned in place, or condemned, the contracting officer shall ensure that the District's financial accounts are reduced by the presently recorded cost and the real property records annotated with a supporting statement, including pertinent facts.

SOURCE: Final Rulemaking published at 35 DCR 1742 (February 26, 1988).