G-31-9.4 Equipment Inventory

It shall be the policy of the College to maintain an inventory of all major purchases of equipment owned by the College. For this purpose, an inventoried item of equipment is one with a useful life of two years and an initial cost of $5000.00 or more.

Listed equipment (e.g. tablets, cellular devices, cameras, etc.) are items designated by the IRS as lending themselves to personal use. Listed equipment with a cost of $500.00 or more will be tagged and inventoried annually.

The Associate CFO shall make the necessary arrangements with appropriate individuals to complete the annual inventory. The Office of Fiscal Services shall be notified in writing whenever an item of listed equipment is permanently relocated.