Note 8. Property and Equipment, Net

FY 2007 Financial Report
Bureau of Resource Management
November 2007
Report

Property and equipment balances at September 30, 2007 and 2006, are shown in the following table (Dollars in Thousands):

Property and Equipment Balances
At September 30, 2007 and 2006
(Dollars in Thousands)
Major Classes 2007 2006
Cost Accumulated
Depreciation
Net Value Cost Accumulated
Depreciation
Net Value
Real Property:
Overseas —
Land and Land Improvements $ 2,107,572 $    (7,435) $ 2,100,137 $ 2,013,634 $    (1,650) $2,011,984
Buildings and Structures   7,891,766  (3,309,772)   4,581,994   6,849,444  (3,080,559)  3,768,885
Construction-in-Progress   2,076,123           —    2,076,123   1,940,647           —   1,940,647
Assets Under Capital Lease      77,194     (31,195)      45,999      76,503     (29,704)     46,799
Leasehold Improvements     347,142    (153,606)     193,536     306,367     (88,323)    218,044
Domestic —
Structures, Facilities and Leaseholds     590,308    (246,818)     343,490     586,352    (232,387)    353,965
Construction-in-Progress      18,362           —       18,362      21,007           —      21,007
Land and Land Improvements      80,967
single underline
     (5,399)
single underline
     75,568
single underline
     80,782
single underline
     (5,086)
single underline
    75,696
single underline
Subtotal — Real Property $13,189,434
single underline
$(3,754,225)
single underline
$ 9,435,209
single underline
$11,874,736
single underline
$(3,437,709)
single underline
$8,437,027
single underline

Personal Property:

Aircraft $   643,342 $  (343,935) $   299,407 $   624,452 $  (297,018) $  327,434
Vehicles     401,645    (241,930)     159,715     334,095    (192,692)    141,403
Communication Equipment      53,452     (45,170)       8,282      52,158     (42,959)      9,199
ADP Equipment      63,567     (45,739)      17,828      59,585     (42,321)     17,264
Reproduction Equipment      12,883     (10,376)       2,507      13,218     (10,005)      3,213
Security      90,927     (55,134)      35,793      92,770     (52,037)     40,733
Software     287,319    (164,207)     123,112     199,558    (123,402)     76,156
Software-in-Development      53,973           —       53,973     121,468           —     121,468
Other Equipment     222,077
single underline
   (159,448)
single underline
     62,629
single underline
    212,187
single underline
   (210,167)
single underline
     2,020
single underline
Subtotal — Personal Property $ 1,829,185
single underline
$(1,065,939)
single underline
$   763,246
single underline
$ 1,709,491
single underline
$  (970,601)
single underline
$  738,890
single underline
Total $15,018,619
double underline
$(4,820,164)
double underline
$10,198,455
double underline
$13,584,227
double underline
$(4,408,310)
double underline
$9,175,917
double underline

 

Stewardship PP&E

The Department has collections of art, furnishings and real property (Culturally Significant Property) that are held for public exhibition, education, and official entertainment for visiting Chiefs of State, Heads of Government, Foreign Ministers, and other distinguished foreign and American guests. As the lead institution in the conduct of American diplomacy, this property is used to promote national pride and the distinct cultural diversity of American artists and to recognize the historical, architectural and cultural significance of the Department's overseas operations.

The Department has six separate collections of art and furnishings: the Diplomatic Reception Rooms, the Art Bank, Art in Embassies, Curatorial Services Program, the Library Rare and Special Book Collection, and the Secretary of State's Register of Culturally Significant Property. The collections, described in the Required Supplementary Information (RSI) section of this report, consist of items that were donated, purchased using donated or appropriated funds, or are on loan from individuals, organizations, or museums. The Department provides protection and preservation services for these collections.

The stewardship PP&E items that the Department owns are considered heritage assets (see "Required Supplementary Information — Heritage Assets"). In accordance with SFFAS No. 29, Heritage Assets and Stewardship Land, no value is assigned to these assets in the Consolidated Balance Sheet. Purchases of items for collections are recorded as an expense in the year of purchase. Proceeds from disposals are recognized as revenue in the year of sale and are designated for future collection acquisitions.

 


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