A capital equipment is defined as:
- Any movable, nonexpendable personal property equipment item
- Not permanently affixed to a building
- Life expectancy of more than one year Acquisition cost of $5,000 or more per unit.
- Includes the invoice price and the cost of any modifications, insurance, freight (to or from the University) and is reduced by any trade-in. Installation is also included when those costs can easily be identified with the equipment acquisition. Includes improvements that increase the value or extend the useful life of equipment.
- University Policy on Managing Capital Equipment
- Purchasing computers on grants
- Capital equipment can NOT be purchased using the UMN Purchasing Card.
- Modular furniture for an office could in total cost $5,000 or more, but if individual components ordered are not $5,000 or more, this purchase should not be treated as capital equipment
- Purchase orders are required for the acquisition of new capital equipment.
- Extra requirements must be met if the purchase is over $10,000.
- Capital equipment require special receiving instructions including asset inventory tagging. Please see Accounting or the UMN Policy on Managing Capital Equipment link noted above.
- Donated capital equipment or capital equipment transferred from another institute require special handling. Please see Guillermo De Paz for further direction.
Disposal and/or Transfers
Before conducting a disposal or transfer, see administrator as follows:
- Computers/servers, see Carla Bates to ensure hard drives data and other HIPPA procedures comply.
- Other capital equipment see Guillermo De Paz
Capital Asset Forms
- Capital Equipment Asset Disposal: BA 1393, GS92343
- Capital Equipment Asset Fabrication: UM 1601
- Capital Equipment Asset Physical Data Change: UM 1674
- Capital Equipment Asset Trade In: UM 1744
- Capital Equipment Asset Transfer: UM 1556
- Capital Equipment Assets Donated to University Report: UM 1561
- Capital Equipment Assets Off Campus Request: UM 1677
- Capital Equipment Assets Transferred from Another Institution Report: UM 1675
- Property Loss Notice - Laptop Computer Program: UM 1532