University Boosts Equipment Capitalization Level to $5,000 - 07/14/09
The University’s equipment capitalization level has increased from $2,500 to $5,000.
The change, effective July 1, was announced in a May 28, 2009, memo from Jim Almond, vice president for business services and assistant treasurer, and Richard Buckius, vice president for research.
Accordingly, starting July 1, equipment that costs $5,000 or more and is expected to be in use longer than a year is defined as “capital equipment.” Purchases of less than $5,000 are considered “supply items.”
A June 29 memo from Mike Ludwig, director of Sponsored Program Services, provides University personnel responsible for a sponsored program with helpful information and instructions for preparing budgets using the new equipment capitalization level. The memo is available on the Sponsored Program Services Web site.