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.
Support proper financial planning, budgeting and reporting.
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 custodians act as a liaison between Property Control and their unit for capital equipment purposes. Custodians have the following responsibilities:
You must submit the New Capital Equipment Purchase Information Form prior to your Red Dragon Depot purchase requisition when purchasing new capital equipment.