The appropriations that AOC manages are listed below. Inactive funds are included below for full disclosure.
1. Capitol Building Capitol Building Flag Office Revolving Fund
2. Capitol Grounds and Arboretum Capitol Grounds and Arboretum West Central Front (inactive) Capitol Trust Account (Union Square)
3. Capitol Police Buildings, Grounds and Security
4. Capital Construction and Operations Capital Construction and Operations Americans with Disabilities Act (inactive) Congressional Cemetery (inactive)
5. House Office Buildings House Office Buildings House Office Buildings Fund House of Representatives Gymnasium Revolving Fund House Historic Buildings Revitalization Trust Fund Recyclable Materials Revolving Fund
6. Library Buildings and Grounds
7. Senate Office Buildings Senate Office Buildings Senate Health and Fitness Facility Revolving Fund Senate Restaurant Revolving Fund
8 Capitol Power Plant Capitol Power Plant
9. U.S. Botanic Garden Botanic Garden National Garden (inactive)
10. U.S. Capitol Visitor Center Revolving Fund
11. Supreme Court Building and Grounds Supreme Court Judiciary Office Building Development and Operations Fund
H. Operating Materials and Supplies
The AOC’s materials and supplies consist of tangible personal property consumed during normal operations. Per SFFAS No. 3, Accounting for Inventory and Related Property, operating materials and supplies are recorded using the purchases method. This method provides that operating materials and supplies be expensed when purchased. Operating materials and supplies are purchased using funds specifically appropriated to the AOC’s jurisdictions. Therefore, the related usage of those materials and supplies is intended for those specific jurisdictions making the purchases.
104 Section III • Financial Information ARCHITECT OF THE CAPITOL
I. Inventory
Inventory consists of retail goods purchased for resale at the CVC’s Gift Shops. It is recorded at historical cost, using the weighted average valuation method, in accordance with SFFAS No. 3, Accounting for Inventory and Related Property. The recorded values may be adjusted based on the results of periodic physical inventory counts. Inventory purchased for resale may be categorized as follows: (1) purchased goods held for current sale, (2) purchased goods held in reserve for future sale, and (3) slow-moving, excess or obsolete inventory. Examples of the retail goods included in inventory are books, apparel, ornaments and other souvenirs. The AOC may also record an allowance which is based on slow-moving, excess or obsolete and damaged inventory, or as a result of known restrictions on the sale or disposition of inventory (see Note 7).
J. Public-Private Partnerships
In FY 2016, AOC entered into a contract with the Washington Gas Light Company to construct a cogeneration facility. Cogeneration, also known as combined steam and power, uses a single fuel source and simultaneously produces electricity and steam. This facility will provide heat and electricity for use by AOC and its jurisdictions and other federal agencies, with excess capacity being sold potentially to non-federal entities as well. The AOC has evaluated this arrangement against the disclosure requirements outlined in SFFAS No. 49, Public-Private Partnerships (P3) and determined that cogeneration does not meet the conclusive and suggestive characteristics of a P3 (see Notes 8, 11 and 14).
K. General Property, Plant and Equipment, Net
The AOC records property at cost. Real property and equipment are depreciated over their estimated useful lives, which range from three to 40 years, using the straight-line method. Depreciation is based on the half-year and full-month conventions for buildings and equipment, respectively. All property (real and personal) is in AOC’s possession and there is nothing held by others (see Note 8).
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