Business Contracts


Change in the University's Definition of Equipment
Equipment Reference Table
(6/10/98)

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EQUIPMENT

Until 6/30/98

7/1/98 – 6/30/99

After 7/1/99

Definition

Articles of non-expendable tangible personal property having a useful life of more than one year, and an acquisition cost of $500 or more per unit

Articles of non-expendable tangible personal property having a useful life of more than one year, and an acquisition cost of $1,500 or more per unit.

Responsibility -All Funds

Department: Assign Acct Code 1

Purchasing: Assign UCID?

Processing Method

Department: Assign Acct Code 1

Purchasing: Assign UCID?

Processing Method

Department: Assign Acct Code 1

Purchasing: Assign UCID?

Processing Method

Cost

Less than $500

638XXX

N

LVPO or Express Card ("EC")

638XXX

N

LVPO or EC

638XXX

N

LVPO or EC

$500 - $1,499

649XXX

Y

Process via HVPO only

649XXX

Y

Process via HVPO only

638XXX

N

LVPO, EC

$1,500 or more

649XXX

Y

Process via HVPO only

649XXX

Y

Process via HVPO only

Y

Y

Process via HVPO Only

 

FURNITURE

Until 6/30/98

7/1/98 – 6/30/99

After 7/1/99

 

Definition

 

Furniture was not considered as inventorial equipment

Free-Standing Furniture is defined as inventorial equipment: Articles of non-expendable tangible personal property having a useful life of more than one year, and an acquisition cost of $1,500 or more per unit.

System Furniture is non-free-standing or modular furniture (e.g. work station units and panels) and is not considered inventorial equipment regardless of unit cost.

 

Responsibility-
All Funds

Department: Assign Acct Code 1

Purchasing: Assign UCID?

Processing Method:

Department: Assign Acct Code 1

Purchasing: Assign UCID?

Processing Method

Department: Assign Acct Code 1

Purchasing: Assign UCID?

Processing Method

Cost:

Less than $500

638XXX

N

LVPO or EC

638XXX

N

LVPO or EC

638XXX

N

LVPO or EC

$500 - 1,499

638XXX

N

LVPO or EC

638XXX

N

LVPO or EC

638XXX

N

LVPO or EC

$1,500 or more

638XXX

N

HVPO if > $2500

649XXX

Y

HVPO if > $1500

649XXX

Y

HVPO if > $1500

Systems Furniture regardless of cost

638XXX

N

LVPO if < $2500,

HVPO if > $2500

638XXX

N

LVPO if < $2500,

HVPO if > $2500

638XXX

N

LVPO if < $2500,

HVPO if > $2500


1   638XXX=Indirect Cost Charges
     649XXX=No Indirect Cost Charges

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Last updated : April 12, 2000 by Webster