This exception allows for the capitalization of an original complement of low cost equipment for the initial outfitting of a tangible capital asset or operational unit, or an expansion or renovation to either. ![]() During the normal course of business, these items would be expensed solely because they did not meet the University’s $5,000 capitalization threshold. The equipment must be non-expendable, tangible personal property having an economic useful life of more than one year.New Construction & Renovationsįor all capital projects in excess of $100,000, the capitalization threshold of $5,000 is waived for the purchase of movable capital equipment, provided the following requirements are met: Equipment must be kept in good working order and free from defects. Funds are appropriated to each department’s budget to maintain and service the department’s equipment. Boston University has title to, is the custodian of, or is held responsible to account for the item.Įach Member of the Boston University community has a general obligation to safeguard and make appropriate use of property owned by or accountable to BU.Cost of the item is $5,000 or greater, including delivery and installation costs, and including the cost of attachments required to operate the item when those attachments are acquired as part of the original equipment purchase.Purchased item has a useful life of one year or greater.Moveable Capital Equipment is defined as any article of non-expendable tangible property (e.g., automobile, centrifuge, microscope, projector, network server) that meets the following capitalization criteria: This includes items that are donated, leased, loaned, or transferred to BU, as well as all equipment purchased by BU with University or sponsored funds. This manual has been prepared to assist all departments of Boston University understand the policies, procedures, and government regulations regarding moveable capital equipment from the time of acquisition through disposal.Īll purchases that are deemed to be moveable capital equipment owned by or located at Boston University should be identified. Find your Department and Research Administrators.Information Systems and Web-Based Applications.Research Occupational Health Program (ROHP). ![]()
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