| Equipment
Inventory Control System |
GENERAL POLICY:
1. All equipment valued at $5,000.00 or more is capitalized and inventoried.
2. All equipment valued at $500.00 to $4,999.99 is expensed and inventoried for stewardship purposes.
3. All equipment may be discarded when defined as condemned and of no further value.
4. All equipment funded from federal resources in excess of seven years old and with no further value may be discarded.
5. Any equipment funded with federal funds with a residual usefulness and value must be maintained and discarded consistent with federal equipment acquisition, retention and disposition policies.
6. The Campus Coordinator of Plant and Operations who manages the Warehouse at Ammerman is responsible for adherence to these policies.
7. The College’s financial system is used to maintain records of fixed assets and current inventory value.
8. All new equipment meeting the standards defined above are recorded on IFMS for tracking purposes.
9. All data on records is captured by initial entry through procurement and, upon receipt, the entry of the asset tag number, the location, and make/model descriptors, as appropriate.
10. All vehicles are de-accessed consistent with defined County Policies and regulations.
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