Why will we treat University-owned items costing less than $1,500 like equipment during FY 1998-99?
For indirect cost application purposes, the $500 threshold for the definition of equipment will continue in FY 1998-99. In order to maintain consistency University-wide and to avoid creating a new set of systems and procedures for use in the transition year only, campuses must continue recording items costing at least $500 but less than $1,500 as equipment during FY 1998-99, regardless of fund source. Inventory system options are discussed below in questions 20 & 21.
Related Questions
- To record equipment costing at least $500 but less than $1,500 during FY 1998-99 should the campus use sub 3 (supplies and expense) or sub 4 (equipment)?
- During FY 1998-99, how do we cease tracking items costing less than $1,500 and still record and electronically report these items to UCOP?
- What if the terms of a sponsored project define inventorial equipment to include items costing less than $1,500?
