According to UK Business Procedure E-12-3 (Equipment Inventory), units are required to “maintain control of all items of furniture, equipment, vehicles and other moveable property assigned to the areas, regardless of cost” and to “maintain reasonable precautions in protecting all property under departmental control or supervision regardless of value.”
The following provides direction regarding how to protect and maintain control of “minor equipment.”
Minor Equipment Definition (as it pertains to COE):
· Item costing between $1,000 and $4,999 that is movable property and not attached or made part of a building or larger asset that is already capitalized.
· Item that is non-expendable and has a useful life of two (2) years or longer.
· Item that retains its identity as a separate and identifiable item.
· Item costing less than $1,000 that is considered by the unit as “high risk” and/or “sensitive” (i.e. TV’s, computers, laptops, tablets, cameras, specialty tools, specialty lab equipment, etc.) must be categorized as minor equipment regardless of cost.
Minor Equipment Inventory Requirements:
· Minor equipment must be listed and annually verified via the eBARS system. The COE Minor Equipment Form will need to be completed for each item that qualifies from definitions above. Once the form has been submitted, College personnel will enter into EBARS and the department will be responsible for annual inventory scanning.
