Minor equipment is defined as property owned by UND with a value <$5000, which has a useful life of more than one year.
It is the responsibility of the department to track minor equipment for insurance purposes.
Minor equipment lists must be maintained for each building wherein your department has equipment. The list must be totaled for each building and the totals reported to the Controller’s Office per the Annual Inventory process.
Department responsibilities for minor equipment include:
- Maintaining a detailed and comprehensive listing of minor equipment for each building in which the department has property
- Inform Asset Management of any minor equipment donated to your department
- Conduct annual inventory
- Prepare Minor Equipment Transfer Form to move equipment between departments
- Prepare a Surplus Property form to send surplus equipment to Surplus Property