![capital expense capital expense](https://www.investopedia.com/thmb/I6OYUcmNeO1qjLSg1kCz0Yo55Vg=/6386x5126/filters:no_upscale():max_bytes(150000):strip_icc()/dotdash_Final_Capital_Expenditures_vs_Revenue_Expenditures_Whats_the_Difference_2020-01-160a38c63f364966bfc46acc4b6b2917.jpg)
![capital expense capital expense](https://images.template.net/wp-content/uploads/2016/01/11054459/Capital-Expenditure-Budget-Template1.jpeg)
Review system wide surplus for excess equipment that would be suitable for use.Review campus surplus for excess equipment that would be suitable for use.Review departmental surplus for excess equipment that would be suitable for use.318(d) and OMB A-110 requires avoiding unnecessary purchases. Prior to acquisition, the requisitioning department will make a reasonable effort to ascertain whether like and acceptable surplus equipment is available within the University system. Copies of approved ORSP Property Screening Certification will be sent to Business Services - Purchasing and the Capital Assets Accountant as part of the initial purchase requisition. Departments shall be responsible for the screening procedure with the external funding agencies and completed approved screening documents will become a part of the award file. ScreeningĮxternal equipment screening as required by any funding agency shall be performed prior to acquisition and in accordance with the agency requirements. Equipment Charges to Federally-Funded Projects below. In addition, there are federal screening requirements. Screening, to ensure that there is no existing property owned by the University that is appropriate and available for use. Prior to acquiring new, federally-funded property, the existing property inventory must be screened following the procedures described below under A. Special terms and conditions of the award should be adhered to, and may require prior signatory approval from the sponsor. Non-expendable property can be acquired with federal funds only if the purchase has been specifically approved in the award document or by prior approval in writing of the agency’s grant or contract officer. Business Services - Property Management conducts such inventories - at a minimum - on a biennial basis. It is the policy of the University to conduct periodic inventories of all property/equipment. University Policy 908 defines capital assets and property/equipment as relatively permanent in nature with an expected useful life of more than one year and a unit cost that meets or exceeds the following: Per Federal policy, the recipient may use its own documented procurement procedures provided they conform to applicable Federal law and standards ( 2 CFR 200.318 (a) and 2 CFR 215 (A-110)).