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DEP DIR, Property & Equipment Policy

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Mission:

Identify and lead the Department-wide effort in developing and implementing near term, mid-term, and long-term solutions to Military Equipment Valuation and Accountability:

• To comply with the federal financial accounting standard (SSFAS No. 23) that requires all military equipment to be reported as capitalized assets on financial statements; and
• To resolve existing personal accountability, accounting and reporting problems for military and general purpose equipment.

The Deputy Director, Property and Equipment Policy is responsible for the following:

• Ensuring that a consistent approach and methodology for valuing military equipment is used across the Military Departments and Defense Agencies and ensuring that implementation satisfies new accounting requirements and can withstand related audit scrutiny.
• Developing and coordinating policy, procedures and business enterprise architecture requirements and systems; and training to facilitate the DoD-wide implementation of military equipment valuation efforts.
• Spearheading a personal property concept of operations that will provide a framework for how the Department’s equipment and administrative property assets (to include assets in the hands of contractors) are accounted for, managed, and controlled
• Overseeing program management of the current Defense Property Accountability System (DPAS)—the critical financial feeder system that provides capital asset values (acquisition value minus accumulated depreciation) that are reported on Component financial statements for personal, military, heritage and real property accounts; and leading the effort to modernize or replace this legacy system consistent with DoD business transformation plans and enterprise architecture.
• As USD(AT&L) lead, overseeing military equipment valuation as one of the DoD Comptroller’s five focus areas for short term financial improvement.
• As USD(AT&L) lead, representing military equipment valuation as one of the three initiatives enabling business capabilities to support the Materiel Visibility (MV) Business Enterprise Priority as part of DoD business transformation.

Additional DEP DIR, Property and Equipment Policy Resources:
Military Equipment Valuation	http://www.acq.osd.mil/me

 

 

 

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