The Property Accounting Office wants to inform you of upcoming, and required changes to Noncapital Equipment Account Codes due to the recent revision of Policy 3-041: Accountability for Noncapital Equipment. The revisions now include THREE CATEGORIES of assets, physical inventory requirements of these categories are outlined below.
- MANDATORY INVENTORY: Noncapital equipment with an acquisition cost greater than or equal to $3,000 but less than $5,000.
- MANDATORY INVENTORY: All university-owned computers, laptops, tablets and cell phones of any value that may contain Personally Identifiable Information (PII) at any point during the university’s ownership of the asset.
- OPTIONAL INVENTORY: Noncapital equipment having an acquisition cost or donated value less than $3,000 and having a useful life in excess of one year. Assets in this category are to be inventoried at the discretion of the departments or units, but not required.
Currently, in Management Reports, the Noncapital Equipment is identified as: Equip-Noncapital $1,000-$4,999, account number range 61400-61419, but this account code structure doesn’t provide the granularity required to implement new inventory requirements.These changes will be effective as of July 1, 2019, but you may want to include the accounts codes in setting up new PO’s and PR’s for FY2020.
There have been no changes to the capital equipment account codes (61000-61021).
If you have any questions please call employees of Property Accounting: Paula Monaco 581-8673, Pamela Day 585-6969 or Robin Love 581-3973.