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Equipment Management Guidelines

The following items are subject to the equipment management and control requirements:

  • Acquisition cost of $5,000 or more per unit, and
  • Acquisition cost under $5,000 per unit considered easily pilfered. These items are included but not limited to:
  • Audio-visual equipment
  • Laptops, tablets, and computers
  • Specialized tools
  • A physical inventory of all equipment is performed at least once every two years and the results reconciled with property records.
  • Equipment details on record will include:
  • Acquisition date
  • Description of equipment purchased
  • Serial number or other identification number
  • Funding source
  • Estimated useful life
  • Federal Award ID Number (FAIN), if applicable
  • Cost or value (if donated) of the property
  • Percentage of Federal participation in the project cost for the Federal Award under which the property was acquired, if applicable
  • Location
  • Condition
  • Special Comments
  • Disposal restrictions
  • Equipment with acquisition cost of $5,000 or more per unit is capitalized and depreciated.
  • Lost, stolen or damaged equipment must be reported immediately.
  • Adequate maintenance procedures must be developed to keep equipment in good condition.
  • If applicable, equipment must be utilized in the program or project for which the equipment was acquired and for any required duration.
  • The Business Office must be contacted prior to disposing of any equipment to determine if there are any restrictions or requirements in effect.
  • Equipment purchased with grant funds must be tracked regardless of the costs.
  • Department Chairs and supervisors are responsible for:
  • Establishing and maintaining the records and procedures necessary for the accountability of the College property and equipment as appropriate to the department.
  • Affixing tags to property or equipment .
  • Any transfer of College property or equipment among departments must be reported to the business office.

 

LINE OF AUTHORITY

Responsible administrator or office: Business Office

Contact person in that office: Alex Nguyen

EFFECTIVE DATE

January 2022

Approved by President: January 2022

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