Introduction

The Property Accounting Office is located on the Ground Level of the Ryan Administration Building on the main campus of Georgetown University.

Ray Carter, Director of General Accounting
Peggy Loftus, Property Accounting

Please contact Peggy Loftus at (202) 687-1497 or E-mail loftusp@gunet.georgetown.edu with any property related questions.

Georgetown University's Property Accounting System has been approved by the Office of Naval Research as an acceptable means of tracking both university and federally funded equipment. 

A complete Property Accounting manual may be found on the Financial Affairs home page or by contacting Kristen Casey at 202- 687-1497.  

Overview

The Office of Property Accounting is a subdivision of the Office of Budgeting and Financial Analysis. It is primarily concerned with ensuring Georgetown University's compliance with federal regulations regarding capital equipment (specifically the Office of Management and Budget A-110). Adhering to university and federal regulations is in the interest of principal investigators and departmental personnel, as it aids in reporting to sponsoring agencies, forming budgets and screening redundant or excessive purchases. The Property Accounting Office can easily provide inventory reports to departments based on cost centers, locations, and many other delimiters. This can be especially helpful when a sponsored project is coming to an end, or a department is upgrading its equipment or moving to a new location. An accurate Property Accounting database ensures proper levels of insurance for the university's assets, and can aid in the reimbursement of recovery of assets in the event of theft or loss. Property Accounting's inventory is used extensively in the calculation of indirect cost rates for the university, and is subject to audit by both internal and external agencies.

Since the Property Accounting database is accessed by so many different areas in the university, and in so many different ways, it is essential that principal investigators and departmental administrators work together with Property Accounting to ensure accuracy and to resolve discrepancies.