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Page Title: NAVSUP FORM 306 PREPARATION PROCEDURES
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PLANT ACCOUNT AND PROPERTY  RECORDS
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Controlled  Equipage.  This  term  refers  to  those items   of   equipage   afloat   that   require   special management   control   because   the   material   is essential for the protection of life or is relatively valuable  and  easily  convertible  to  personal  use. Items classified as controlled equipage are listed in Afloat  Supply  Procedures,   NAVSUP   P-485, appendix  II. Minor  Property.  This  term  is  defined  as personal  property  acquired  for  immediate  use  and having   a   cost   of   less   than   $5,000   and   those personal  property  items  having  a  unit  cost  of $5,000 or more but with a useful life of less than 2 years. Plant  Property.  This  term  is  defined  as  all Navy-owned  land,  buildings,  and  personal  pro- perty   of   a   capital   nature   located   on   shore activities. Listed below are four classes of plant property. Class  1.  Land. Class  2.  Buildings,  structures,  and  utilities. Class  3.  Navy-owned  personal  property  of  a capital nature with an estimated or actual initial acquisition cost of $5,000 or more. It must have an expected normal life of 2 years or more; it must not be consumed in the performance of its work; it  must  not  be  permanently  installed  in  buildings; and  it  must  not  be  a  part  of  supply  stock. Class  4.  Industrial  plant  equipment  that  costs $5,000 or more and is used for cutting, grinding, shaping,   forming,   joining,   testing,   measuring, heating,  and  treating  components  used  in manufacturing  or  maintenance  of  items  of supply.  It  does  not  include  items  costing  less  than $5,000. DOD  Property  Record,  DD  Form  1342  (fig. 1-6), is the only form used for reporting class 3 and class 4 plant property. A separate DD Form 1342  is  prepared  for  each  individual  item.  The computer  generation  of  the  DD  Form  1342  is authorized  if  all  data  elements  are  included  in  the same  order  as  on  the  standard  form. Controlled equipage afloat is much the same type  of  material  as  plant  account  property  classes 3  and  4  ashore.  It  requires  the  maintenance  of separate  custody  records  for  individual  items; physical inventories; surveys of lost, missing, or unserviceable  items;  and  periodic  reports  of consumption,  deficiencies,  and  excess  to  the cognizant   type   commander   (TYCOM). NAVSUP  FORM  306  PREPARATION PROCEDURES The  Controlled  Equipage  Record,  NAV- SUP Form 306 (fig. 1-7), if not provided with the COSAL,  is  prepared  by  typewriter  or  in  ink  in Figure 1-7.—Controlled Equipage Custody Record, NAVSUP Form 306. 1-11

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