The condition of the property does not impair the utility of the property. New New or excellent condition. Poor New or used property so badly broken, soiled, rusted, mildewed, deteriorated or damaged that its utility is seriously impaired or property which has been repaired or renovated and is in bad condition as a result of serious deterioration such as major wear and tear, corrosion, or exposure to weather. Fiduciary Fund A fund held by a state agency as trustee of the fund. The term includes pension funds and non-expendable trust funds.
Fund Represents the agency-defined fund used for accounting and financial reporting purposes.
GAAP An acronym that stands for Generally Accepted Accounting Principles. Group Basis Multiple property units tracked under one property record. Missing Any personal property that has disappeared with no explanation. Lease A lease agreement that does not satisfy the capitalization criteria and does not need to be considered as a capital asset for SPA purposes. Personal property does not include consumable items nor real property such as land or buildings, improvement to land or buildings, or infrastructure.