With respect to US Federal Government reporting requirements, Government Property (GP) includes nonexpendable property and is defined as property that is considered to be complete in itself, does not lose its identity or become a component part of another article when put into use, is durable with an expected service life of at least two years, and has a unit cost of $500 or more.
Note: While it is rare, the threshold dollar value for Government Property may vary from contract to contract. If you are unsure of the control limits established for your contract or cooperative agreement, send an inquiry to the RAMS Program Administrator by clicking on the email link above.