Minor Equipment Includes:
Minor equipment consists of equipment with a per unit acquisition cost less than $5,000 AND with a useful life greater than one year.
Departments must maintain accurate Minor Equipment Listings:
Each department is responsible for maintaining a minor equipment inventory spreadsheet, subtotaled for all inventoried items in each building. These amounts are reported during the annual minor equipment inventory via the Minor Inventory Verification Report. If a department does not maintain a minor equipment inventory spreadsheet, the department is not insured for any loss on that equipment. It is the responsibility of each department to keep an accurate and comprehensive minor equipment inventory spreadsheet to track minor equipment.
A department’s minor equipment inventory spreadsheet should include the following information:
- Department Number
- Building Name
- Room Number
- Minor Inventory Tag Number
- Replacement Cost (Insured Value)
Surplus Minor Equipment:
Departments must complete a Surplus Property Form and send it to Facilities. This form does not need to be sent to asset management by the department.
Minor Equipment Transfer:
Departments must complete a Minor Equipment Transfer Form to move equipment between departments. This form needs to be sent to Asset Management and Facilities.