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Policies and Procedures

Procedure 602.4 – Equipment Fabrication

Effective
July 1, 1999
Last Updated
October 14, 2014
Last Reviewed
October 14, 2014
Responsible University Officer
Director of Logistics
Responsible Unit
Asset Management

Procedure Statement

Fabricated equipment may qualify for capitalization.

Forms and Instructions

Fabricated equipment requires entry into the Asset Management database if the finished equipment qualifies for capitalization as found in 601 - Definition of Capital Equipment. At the beginning of a fabrication project, contact Asset Management for a UNC Asset Management decal number. Use this decal number as a purchase reference when purchasing parts and components for the fabricated equipment.

When there have been sufficient purchases to enter the asset into the Asset Management database, ($5,000), send invoice copies to Asset Management along with the fund sources and accounts originally charged for each purchase. Asset Management will submit a campus journal entry to credit the expense accounts used for purchase and debit the appropriate capital asset account.

purchase order must be issued to acquire any components over $5,000. Make sure your request for purchase includes the UNC Asset Management decal number as a reference, and your fund source number includes a capital asset account as found in policy statement 601 - Definition of Capital Equipment. When the project is complete, notify Asset Management so the UNC Asset Management decal will be sent to the department to affix to the finished equipment.

Related Data

None.

History

Revised:
October 1, 2014: Updated terminology under Forms and Instructions.
August 12, 2009