Capital Equipment

Capital Equipment Policy

Introduction
Capital equipment is tangible property having an acquisition value of $5,000 or more and a useful life expectancy of one year or more. Fabricated equipment and component systems, which have an aggregate costs of $5,000 or more and useful life expectancies of one year or more, are considered capital equipment.

Non-Capital equipment is property that costs less than $5,000 or has a useful life of less than one year. Repairs, maintenance parts or components, warranty costs, maintenance contracts or annual software licensing fees are not considered capital equipment and will be expensed.


Purpose
Support proper financial planning, budgeting and reporting.


Property Control Manager
The Property Control manages the maintenance of the capital equipment inventory. This includes adding capital equipment, updating records and removing assets within the capital equipment management system.

Capital Equipment Custodian
Capital equipment custodians act as a liaison between Property Control and their unit for capital equipment purposes. Custodians have the following responsibilities:

  • Support Property Control by publicizing, monitoring and enforcing capital equipment policies and procedures at the unit level.
  • Assist Property Control with recording and all edits to their unit’s new capital equipment in a manner that works best for their unit.

To request a current capital equipment report please follow this link  https://sunycortland.formstack.com/forms/capital_equipment_report_request

To add or update capital equipment please use this link https://sunycortland.formstack.com/forms/capital_equipment_form

View the Most Recent Full Capital Equipment Report in PDF for FY2017 and FY2018

You must attach this form to your Red Dragon Depot purchase requisition as an external note when purchasing new capital equipment New Capital Equipment Purchase Information Form

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