Capital Equipment

LAST UPDATED: November 22, 2017

What You Should Know

Capital equipment is defined as items of tangible personal property that individually cost more than $5,000 and have a useful life of more than one year. The $5,000 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.

Many capital items are available through our contract suppliers in Prime Financials and the Prime Marketplace; some of our suppliers will manufacture custom items.

Please review the Capital Equipment Policy prior to purchasing. When you purchase a capital item, the Office of the Controller will provide the equipment's custodian with a bar-coded tag that must be affixed to the item. The custodian is responsible for providing the Controller's office with location, model, and serial number, and any other relevant information when the asset is received, moved, disposed, or when any other information on the record changes.

How to Buy Capital Equipment

Capital equipment must be purchased using the requisition process in Prime Financials. Many of our contract suppliers accessed directly through Prime Financials or the Prime Marketplace carry capital equipment frequently purchased by the University.

University Credit Cards cannot be used for capital equipment purchases.

Before you buy new capital equipment, consider items from our Surplus program.

For more information


 

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