What is the minimum asset cost for which NAF funds custodians are responsible for maintaining a property record?

• A. $600
• B. $1,200
• C. $1,000
• D. $1,500

Answer: (C)

The minimum asset cost for which NAF (Non-Appropriated Fund) funds custodians are responsible for maintaining a property record is $1,000. This threshold is established to ensure accurate tracking and documentation of significant assets within the NAF financial management framework. By requiring custodians to maintain records for assets above this value, the policy helps preserve accountability and enables effective management of resources, ensuring that valuable items are properly monitored and safeguarded.

Assets below this cost may not warrant the same level of oversight, and custodians typically have discretion over smaller items. Therefore, maintaining records for assets over $1,000 strikes a balance between accountability and practicality, ensuring that valuable resources receive appropriate attention without overburdening custodians with excessive record-keeping for low-cost items.