Non Capital Asset Property
Effective Date Apr 10, 2018
The purpose of this policy is to provide guidance to university departments and the Property Management unit for the accountability of certain types of minor equipment that do not meet the acquisition cost of $1,000. The minor equipment is university property but it is not considered university inventory.
This policy applies to all university departments.
Once minor equipment under the $1,000 threshold has a useful life of at least one year and is determined to be monitored, the item becomes part of the departmental non-capital assets equipment monitoring list. The department is held responsible and must account for and dispose of all such items on their list in accordance with established procedures regardless of cost.
Warranty information, maintenance, repairs and support documentation is to be maintained by the originating department.
The department head will determine if the equipment should be tagged with a university property tag, [not a university capital asset tag]. If a university property tag is required, the department head will contact the university's Property Administrator.
Minor equipment such as printers, scanners, projectors, televisions, cameras, etc., are university property. The equipment can be purchased with a procurement card or a Banner purchase order. The department can pick up the equipment from a local vendor, can be delivered via the university's receiving department, or via desk-top delivery from a third-party carrier.