Revised equipment policy announced (Posted July 20, 2012)
Treasurer Charles (Butch) Peccolo has announced that the following fiscal policy has been revised. The policy is effective July 1, 2012 and is now on the policy web site.
FI0605 – Equipment – This policy has been significantly revised.
The major change in policy is to increase the threshold on Sensitive Minor Equipment from $1,000 to $1,500.
Other changes include:
- Guidance on the sub-categories of Movable Equipment: Capital Equipment and Sensitive Minor Equipment;
- Information on how assets are incorporated into IRIS, including when to use sub-assets;
- Modification of the list of items to be included as Sensitive Minor Equipment;
- Clarification of departmental responsibilities concerning equipment, including ensuring confidential information is inaccessible before disposing of electronic media.
All university business managers whose faculty and staff participate in these programs should read and understand the guidelines provided in this policy.