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For construction projects that are completed in multiple phases (CIP Phase Indicator value is Yes), the cost of each phase is transferred from the construction-in-progress
(CIP) account to the real property asset account at the time the phase is placed in service.
Each phase shall be depreciated separately over its estimated useful life. Each Facility could have one or more RPA Placed In Service Date values.
Also, on this date, an interim Transfer and Acceptance of Military Real Property document (DD Form 1354) is signed, title for assets listed on the acceptance form is transferred, and the punch-list of additional work and certificate of occupancy by local authorities are attached to the acceptance form.
All cost information transferred from the construction-in-progress (CIP) account to the real property asset account, at the time the asset or the capital improvement to the asset is placed in service, shall be supported by the Transfer and Acceptance of Military Real Property document (DD Form 1354).
All additional expenses incurred following the RPA Placed In Service Date shall be transferred from the CIP account to the real property asset account with the final Transfer and Acceptance of Military Real Property document (DD Form 1354).
The original acquisition cost of the asset shall be adjusted for this amount and the revised amount shall continue to be depreciated over the remaining useful life of the asset.
For Transfer-in and Purchase acquisition methods, only the final Transfer and Acceptance of Military Real Property document (DD Form 1354) is prepared and delivered.
As a result, the RPA Placed In Service Date shall be equivalent to the Acquisition Date, where the Acquisition Date represents the date of the final Transfer and Acceptance of Military Real Property document (DD Form 1354).
For Transfer-in Real Property assets, the financial reporting responsibility is transferred on the date of the final Transfer and Acceptance of Military Real Property document (DD Form 1354).
The cost recorded on the acquiring DoD component's financial records shall be the book value of that real property asset.
If the RPA Placed In Service Date month is unknown, then the month must be defaulted to "07" (July).
If the RPA Placed In Service Date day is unknown, then the day value must be defaulted to "01" (one).
The RPA Placed in Service Date shall equal the Grant Start Date of the original instrument when the RPA Interest Type Code equals "LEAS".
When the RPA Placed in Service Date is exchanged between systems, the date must be transmitted in XML format (YYYY-MM-DD). |