Capital equipment is an article of nonexpendable, tangible property with a useful life of more than one year, and an acquisition cost of $5,000 or more per unit. The $5,000 value threshold includes:
- The item itself;
- Expenditures necessary to put the item in place; and
- Ancillary charges such as taxes, duty, protective in-transit insurance, freight, and installation costs.
For example, the capital expenditure for a piece of equipment includes the cost of any modifications, attachments, accessories, and auxiliary apparatus necessary to make it usable, as well as the cost of shipping and installation.
Purchase Capital Equipment
Please review the Capital Equipment Policy prior to making a purchase. Note that University credit cards cannot be used for capital equipment purchases.
- Create a Requisition in Prime: Capital equipment must be purchased using the requisition process in Prime Financials. Before you buy new capital equipment, consider items from our Resource Recovery program.
- Update the Asset Record in Prime Financials: When you purchase a capital item, the Office of the Controller will provide the custodian of the equipment with a bar-coded tag that must be affixed to the item. The custodian is responsible for updating the asset record in Prime Financials with its location, model, and serial number. They also are expected to note any other relevant information when the asset is received, moved, or disposed, or when any other information on the record changes.