The Property Accounting Department of Financial Services is responsible for maintaining an accurate record of all inventoriable equipment in the posession of the College.
What is “capital” equipment?
Capital equipment is equipment purchased by the College that has a unit cost of $5,000 or more and a useful life of at least one year.
What is “non-captialized” equipment?
Non-capitalized equipment is equipment purchase by the College that has a unit cost of under $5,000 and has a useful life of at least one year.
Q & A
Q: Do I have to inform Property Accounting when I move equipment that has been inventoried from one location to another, or transfer it from my department to another department?
A: Yes! In order for us to keep the College’s fixed assets system up-tp-date, we need to know when equipment permanently changes location so we can update that information in the system. “Permanently” is defined as longer that six months.
Q: So, how do I do that?
A: It’s easy. Fill out the form below and send it attention of surplus property:
Simply complete the necessary information, obtain the necessary departmental signature(s), and forward it to Property Accounting, Resource Ctr, or fax it to 276.376.4510. If you don’t have access to the web, call Property Accounting at 276.328.0257.
Q: How do I get rid of equipment that my department doesn’t want anymore?
A: Contact Procurement Services
Grant and Contract Equipment
- Grant and Contract Changes
- Lease vs. Purchase Policy
- Property Management & Shared Use of Equipment
- Property Included and Excluded
- Acquisition of Research Equipment and Materials
- Maintenance of Equipment Records
- Equipment Title, Disposition and Subcontracts
- Equipment Screening
- Transfer of Research Equipment From the University
- Transfer of Research Equipment To the University
Gift Equipment (section IX)