U.S. flag
          An official website of the United States Government  Main navigation
  

        

              Data Initiatives
                              Regulations
                                                                        Row 1
                                              FAR FAR
                              Smart Matrix Smart Matrix
                              Chapter 99 (CAS) Chapter 99 (CAS)
                              Row 2
                                              DFARS DFARS
                              DFARSPGI DFARSPGI
                              AFARS AFARS
                              DAFFARS DAFFARS
                              DAFFARS MP DAFFARS MP
                              DARS DARS
                              DLAD DLAD
                              NMCARS NMCARS
                              Row 3
                                              SOFARS SOFARS
                              TRANSFARS TRANSFARS
                              AGAR AGAR
                              AIDAR AIDAR
                              CAR CAR
                              DEAR DEAR
                              DIAR DIAR
                              DOLAR DOLAR
                              Row 4
                                              DOSAR DOSAR
                              DTAR DTAR
                              EDAR EDAR
                              EPAAR EPAAR
                              FEHBAR FEHBAR
                              GSAM/R GSAM/R
                              HHSAR HHSAR
                              HSAR HSAR
                              Row 5
                                              HUDAR HUDAR
                              IAAR IAAR
                              JAR JAR
                              LIFAR LIFAR
                              NFS NFS
                              NRCAR NRCAR
                              TAR TAR
                              VAAR VAAR
                              Tools
                                                                        Archives
                              Smart Matrix
                              Regulations Search
                              Acquisition Regulation Comparator (ARC)
                              Policy Network
                                                                        CAOC
                              CAAC
                              FAR Council
                              ISDC
 Breadcrumb
        Home
                            Regulations
                            NFS
                            1852.245-78   Physical inventory of capital personal property.
        
                  HTML
NFSPart Number: 1852
        
                  

                                
                  
        NASA Federal Acquisition Regulation Supplement
« PreviousNext »
1852.245-78 Physical inventory of capital personal property.1852.245-78 Physical inventory of capital personal property.       As prescribed in 1845.107–70(i), insert the following clause.                                  Physical Inventory of Capital Personal Property (AUG 2015)                                  (a) In addition to physical inventory requirements under the clause at FAR 52.245–1, Government Property, as incorporated in this contract, the Contractor shall conduct annual physical inventories for individual property items with an acquisition cost exceeding $500,000.                                  (1) The Contractor shall inventory—                                  (i) Items of property furnished by the Government;                                  (ii) Items acquired by the Contractor and titled to the Government under the clause at FAR 52.245–1;                                  (iii) Items constructed by the Contractor and not included in the deliverable, but titled to the Government under the clause at FAR 52.245–1; and                                  (iv) Complete but undelivered deliverables.                                  (2) The Contractor shall use the physical inventory results to validate the property record data, specifically location and use status, and to prepare summary reports of inventory as described in paragraph (c) of this clause.                                  (b) Unless specifically authorized in writing by the Property Administrator, the inventory shall be performed and posted by individuals other than those assigned custody of the items, responsibility for maintenance, or responsibility for posting to the property record. The Contractor may request a waiver from this separation of duties requirement from the Property Administrator, when all of the conditions in either          (1)  			or (2) of this paragraph are met.                                  (1) The Contractor utilizes an electronic system for property identification, such as a laser bar-code reader or radio frequency identification reader, and                                  (i) The programs or software preclude manual data entry of inventory identification data by the individual performing the inventory; and                                  (ii) The inventory and property management systems contain sufficient management controls to prevent tampering and assure proper posting of collected inventory data.                                  (2) The Contractor has limited quantities of property, limited personnel, or limited property systems; and the Contractor provides written confirmation that the Government property exists in the recorded condition and location;                                  (3) The Contractor shall submit the request to the cognizant property administrator and obtain approval from the property administrator prior to implementation of the practice.                                  (c) The Contractor shall report the results of the physical inventory to the property administrator within 10 calendar days of completion of the physical inventory. The report shall—                                  (1) Provide a summary showing number and value of items inventoried; and                                  (2) Include additional supporting reports of—                                  (i) Loss in accordance with the clause at 52.245–1, Government Property;                                  (ii) Idle property available for reuse or disposition; and                                  (iii) A summary of adjustments made to location, condition, status, or user as a result of the physical inventory reconciliation.                                  (d) The Contractor shall retain auditable physical inventory records, including records supporting transactions associated with inventory reconciliation. All records shall be subject to Government review and/or audit.                               (End of clause)    **Parent topic:**  Subpart 1852.2—Texts of Provisions and Clauses
« PreviousNext »
FavoriteX

      NFS Parts
            Regulations Nfs Menu
  

        
      Index
                              1800
                              1801
                              1803
                              1804
                              1805
                              1806
                              1807
                              1808
                              1809
                              1811
                              1812
                              1813
                              1814
                              1815
                              1816
                              1817
                              1819
                              1822
                              1823
                              1824
                              1825
                              1827
                              1828
                              1830
                              1831
                              1832
                              1833
                              1834
                              1835
                              1836
                              1837
                              1839
                              1840
                              1841
                              1842
                              1843
                              1844
                              1845
                              1846
                              1847
                              1849
                              1850
                              1851
                              1852
                              1853
                              18721899

      ×
        Data Initiatives
                                                              Regulations
                                                              Tools
                                              Archives
                                                              Smart Matrix
                                                              Regulations Search
                                                              Acquisition Regulation Comparator (ARC)
                                                              Policy Network
                                              CAO.gov
                                                        CAO Home
                                                              Council Member
                                                                    Large Agencies
                                                              Small Agencies
                                                              Council Defining Documents
                                                                    CAOC History
                                                              CAOC Charter
                                                              Civilian Agency Acquisition Council (CAAC)
                                                              Federal Acquisition Regulatory Council
                                                              Interagency Suspension and Debarment Committee (ISDC)
                                                              Search
 ˄ Top Sign up for FAR News

                            Share the FAR
                        Upper Footer Menu
  

        
      Useful Links
                              FAR Resources
                              Training
                              Acquisition Systems
            
                            **Contact Us/FAQs**
                        **Privacy and Security Notice**
                        **Accessibility Aids**
                        **Last Updated 03/29/2024**
 ACQUISITION.GOV
                An official website of the General Services Administration About GSA
                Accessibility support
                FOIA requests
                No FEAR Act data
                Office of the Inspector General
                Performance reports
                Privacy policy Looking for U.S. government information and services?
            Visit USA.gov
 «
    
    Tt