What is 'Inventorial Equipment'
Inventorial equipment comprises items that are either owned by UC Merced or held in its custody, and must meet the following conditions:
- Possess an acquisition cost of $5,000 or higher (including tax).
- Are not disposable or consumable items.
- Are stand-alone equipment.
- Have a typical useful life of at least one year (according to UCOP's useful life schedule).
- Qualify as tangible personal property.
Additionally, regardless of cost, firearms, government property, and vehicles registered with the DMV must be documented and monitored for record-keeping purposes.
For More:
- BFB-BUS-29, the University of California Policy on Management and Control of University Equipment, establishes procedures for the management/control of inventorial equipment.
- Refer to BFB-BUS-29 to access definitions pertaining to equipment and capital expenses.
There are many ways to acquire inventory!