Fixed Assets Inventory Revision
The Office of Support Services announces changes in the reporting of inventory purchases to more efficiently track items using the appropriate fund account. This modification in the inventory policy became effective July 1, 2002.
Purchases of computing equipment and software (software, central processing units, visual display devices and printers) at any cost are to be charged to a technology "5320100" account. Computing equipment (central processing units, visual display devices and printers) will be tagged for fixed assets at any cost. Software will be tagged once the cost reaches the capitalization threshold.
Purchases of equipment costing $500 or more defined as "High Risk" will be charged to an equipment "5300100" account and tagged for inventory tracking purposes.
These items are as listed, but not limited to:
Audio-visual equipment (radio, television, recorders, projectors, video and monitor equipment, or other similar equipment)
Photographic equipment (cameras, viewers, studio, projectors, filters, lens, screens, meters, microfilm, tripods, and lights)
Purchases of equipment costing $1,000 or more, not defined as Category I or II, will be charged to an equipment "5300100" account and tagged for inventory reporting.
For additional information, contact the Office of Support Services at 3-2018.