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Section 37: Capital Expenses

(1) Capital Equipment as defined by the University accounting system is:

(A) considered to be property with a total cost or value of $5,000 or more (July 1, 1996);

(B) has a life expectancy in excess of one (1) year,

(C) is made of durable materials, not glass, etc., and

(D) is not a replacement or repair part for a fixed asset.

(2) Capitalized equipment with a value of $5,000 dollars or more will be inventoried by Equipment Management.

(3) Procured items below the $5,000 dollar threshold that require control should be inventoried and controlled by each department in consultation with their respective Financial Officer.