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The purpose of this procedure is to set criteria that determine if a lease may meet the requirements of a University of North Carolina at Chapel Hill Capital Lease and if the equipment should be recorded as a capital asset.
This Procedure provides guidance on fabricated equipment of the University of North Carolina at Chapel Hill, when it qualifies for capitalization, and the appropriate preparation of purchase orders when acquiring components of a fabricated piece of equipment that may qualify as capital equipment.
This Procedure provides the guidelines to be followed in transferring capital equipment to the University of North Carolina at Chapel Hill.
This procedure provides basic guidance related to the purchasing and trading-in of capital equipment.
This procedure provides the guidelines related to gifts/donations of capital equipment to the University of North Carolina at Chapel Hill.
This policy clarifies the channels of acquisition for equipment that is added to the University of North Carolina at Chapel Hill's database for financial reporting.
Items that have become obsolete or no longer needed are to be sent to the University Surplus Property Warehouse.
University equipment can be acquired through a variety of funding sources. As such, approval channels for transfer of equipment to other institutions will vary. The approval process requires approximately sixty days lead time to complete.
Asset Management is notified any time that Capital Equipment is sold or transferred to another University department.
The State of North Carolina requires all state agencies to maintain Asset Management systems. The State Controller's Office requires an annual physical equipment inventory to be conducted by each campus department.
The UNC-Chapel Hill ("the University") Capital Assets policy is established to provide a guidance to the impacted campus community.
The University established this policy in accordance with North Carolina General Statute (N.C.G.S.) Chapter 75, subsections 61 and 62 to protect individual records and information and to prevent involuntary disclosure of individual social security numbers.
University-owned surplus property must be turned in to the University's Surplus Property Warehouse at the end of the useful life of the equipment.
Equipment missing or stolen during normal operations is reported immediately. Investigations follow the report in an effort to recover the property or its cost.
Equipment owned by UNC-CH must remain on campus.