Capital Equipment Procurements
Capital Equipment Procurements- The GT E-Procurement system is used to purchase equipment.
- Items are classified as “Equipment” if the value is between $3,000.00- $4,999.99. These items are listed in the department’s inventory but are not considered capital equipment. Items are classified as “Capital Equipment” if the value is $5,000.00 and above. These items are listed in the department’s inventory and are considered capital equipment.
- The End User/Spend Authority (or equivalent) is the individual using the capital equipment and, therefore, becomes the Custodian, accountable to Capital Assets Accounting for physical location and condition.
- The funding sources can be a sponsored project or state funds.
- Title is the ownership of the equipment when purchased. Title establishment is mandatory when creating a requisition. A sponsor may retain title or transfer the title of the equipment to Georgia Tech. Georgia Tech retains title on all equipment purchased partially or totally with state funds.
- Proper classification of the purchase is important for budgetary, reporting and property control purposes. Appropriate classification and account codes should be indicated on the requisition.
- A Used Equipment Justification form is required when purchasing used equipment. This form affirms that department personnel have personally examined the used equipment and do state that the condition of the equipment is as represented and they will accept full responsibility and the best interest of the State of Georgia and Georgia Tech will be served by the purchase of this used equipment. If purchased with sponsored funds, sponsor approval may be required prior to purchase.
- If the equipment is to be added to existing Georgia Tech equipment and will increase the value the classification of the equipment may change to capital equipment if the new combined value exceeds $5,000.00.
- Sponsored Deliverable Equipment as specified in the contract is defined as capital property.
This policy applies to all Georgia Tech faculty and staff members.
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Title |
Ownership of equipment when purchased. |
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Capital Equipment |
Equipment with a value of $5,000 or greater. |
Used Equipment |
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Purchase of Used Equipment |
Complete Used Equipment Justification Form and attach form to purchase requisition
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Existing Equipment |
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Add-on to Existing Equipment |
Georgia Tech Decal Number, if applicable, should be included in the memo section of the purchase requisition if the add-on equipment will increase the value of the existing equipment.
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It is the responsibility of the department/end-user to inspect the used equipment, confirm the condition of the equipment is as represented, and obtain prior approval from sponsor, if applicable.
To report suspected instances of ethical violations please visit Georgia Tech’s Ethics Hotline, a secure and confidential reporting system, at: https://secure.ethicspoint.com/domain/en/report_custom.asp?clientid=7508
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Revision Date |
Author |
Description |
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11/2020 |
Purchasing Department |
Editorial updates to align with Workday implementation. |
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05/2018 |
Purchasing Department |
New Policy |