Dollar Threshold for Inventorial Equipment
The University now defines inventorial equipment as articles that are owned by or in the custody of the University and:
- are non-expendable (not disposable or consumable)
- stand alone
- qualify as tangible personal property
- have a useful life of at least one year, and
- have an acquisition cost of $5,000 or greater.
For contracts and grants:
- Physical verification and tracking are required only for items valued at $5,000 or greater, and for agency-titled items and guns, regardless of value.
- Object codes are used to ensure correct asset reporting.
- Indirect costs are applied to all expenditures for items less than $5,000.
These object codes are for theft-sensitive, non-inventorial equipment valued at $200 - $4,999:
|Non-Inventorial Equipment||Object Code|
For inventorial equipment valued at $5,000 or greater:
|Inventorial Equipment||Object Code|
|Scientific — Medical Equipment|
|Scientific — Non-Medical Equipment|