What are Exhibit 53 and 300?

Exhibit 53 is the Agency IT Investment Portfolio, providing budget estimates for overall IT investments and for major and significant IT systems. Exhibit 300 is a Capital Asset Plan completed for major IT systems and IT budget initiatives.

What is an exhibit 53?

Definition. Exhibit 53 is a report that provides budget estimates on all IT investments for individual agencies and identifies those that are major investments, which require an Exhibit 300.

What are excluded from capital assets?

Any stock in trade, consumable stores, or raw materials held for the purpose of business or profession have been excluded from the definition of capital assets. Any movable property (excluding jewellery made out of gold, silver, precious stones, and drawing, paintings, sculptures, archeological collections, etc.)

Is owner equity and capital the same?

Equity represents the total amount of money a business owner or shareholder would receive if they liquidated all their assets and paid off the company’s debt. Capital refers only to a company’s financial assets that are available to spend.

What should a capital plan include?

Key elements to include in your capital plan are:

• Summary of your business strategy;
• Narrative on the business, local market and economic scenario for your next five years;
• Financial forecast for minimum of five years;
• Analysis of the balance sheet and profitability;

What counts as a capital expenditure?

Capital expenditures (CapEx) are funds used by a company to acquire, upgrade, and maintain physical assets such as property, plants, buildings, technology, or equipment. This type of financial outlay is made by companies to increase the scope of their operations or add some economic benefit to the operation.

How do I avoid capital gains tax reinvesting?

Do a 1031 Exchange A 1031 exchange refers to section 1031 of the Internal Revenue Code. It allows you to sell an investment property and put off paying taxes on the gain, as long as you reinvest the proceeds into another “like-kind” property within 180 days.

What are the requirements for exhibit 300?

OMB requires that each Exhibit 300 have a unique user ID that refers to only one investment on Exhibit 53. If an investment falls into two or more mission areas, keep all the funding under the most important mission area for that investment.

What is exhibit 300 of OMB Circular A-11?

The Exhibit 300: Capital Asset Plan and Business Case Summary supports the budget justification and reporting requirements for major information technology (IT) and non IT investments as required by OMB Circular No. A-11 Part 7, Section 300: Planning, Budgeting, Acquisition, and Management of Capital Assets (PDF, 26 pages – 386 KB).

What is A-11 part 7 Section 300?

A-11 Part 7, Section 300: Planning, Budgeting, Acquisition, and Management of Capital Assets (PDF, 26 pages – 386 KB). In accordance with the administration’s transparency initiatives, the Office of Management and Budget launched a Federal Information Technology (IT) Dashboard.

How often should exhibit 300 information be updated?

Specifically for major investments, the Exhibit 300 information on contracts, performance metrics and milestones must be updated monthly to support the requirements of the OMB IT Dashboard.