Procurement Policies and Procedures
Applies to all asset acquisitions with a unit value of $1,000 or greater and a useful life in excess of one year.
All equipment valued between $1,000 - $4,999 with a useful life of more than one year should be coded to the 7214-7216 range of University account codes. Departments are responsible for establishing polices and procedures to ensure the acceptable use and physical security of both University level equipment (valued $5,000 or greater) and departmental equipment (valued $1,000 to $4,999).
Equipment items valued $5,000 or greater should be charged to account codes in the 81xx range, and will be tagged and added to the University’s detailed inventory records.
Refer to the Equipment Policy & Procedure on the Comptroller’s web site.