NOTE 7. Inventory and Related Property, Net
USAID’s Inventory and Related Property is comprised of Operating Materials and Supplies. Operating Materials and Supplies as of September 30, 2007 and 2006 are as follows:
Inventory and Related Property
(Dollars in Thousands)
| |
2007 |
2006 |
| Items Held for Use |
|
|
| Office Supplies |
$12,783 |
$14,895 |
| Items Held in Reserve for Future Use |
|
|
| Disaster Assistance Materials and Supplies |
7,599 |
16,074 |
| Birth Control Supplies |
15,371 |
22,376 |
| Total |
$35,753 |
$53,345 |
Operating Materials and Supplies are considered tangible properties that are consumed in the normal course of business and not held for sale. The valuation is based on historical acquisition costs that do not exceed capitalization criteria of $25 thousand. There are no items considered as obsolete or unserviceable, and currently there are no restrictions on their use. Inventory costing less than $25 thousand is expensed as incurred.
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