Section 800: Financial Affairs
840.17 Capital Purchases
Effective: December 2, 1999
Revised: October 1, 2007
Review Date: October 9, 2007
Responsible Party: Vice Chancellor for Finance, Administration & Student Affairs

Policy:
Capital budgets are for purchase of Major Equipment. "Major Equipment" is defined as follows and must meet all four criteria:

• A normal useful life of one year or more.
• An identity which does not change with use.
• A unit of property that is identifiable and separately accounted for.
• A unit cost of $5000 or more. (Books purchased for the Library are excluded.)

All requests for purchases within this category must be approved by the Vice Chancellor of Administration, Finance/Student Affairs.

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