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Property Definitions

Definition of Property

For inventory purposes, property (equipment) is defined as:

  • Capital equipment with an acquisition cost of $5,000.00 or more.
  • Non-Capital equipment with an acquisition cost of $2,500.00 or more, with an estimated life greater than a one year and not permanently attached into University buildings.
  • Sensitive equipment of $500.00 or more, with an estimated life greater than a one year and not permanently attached into University buildings. Examples include computers, tablets, digital cameras, and similar.

Instructional Property

Instructional Equipment is defined as equipment purchased for use in instructional departments. The Property Management Office (PMO) will maintain records to track and report required information to the University and State.

Federally-funded Property

Property and equipment purchased with federal funds usually through a grant or sponsored program. The Property Management Office (PMO) will maintain records to track and report required information to the University and State.