Equipment is defined as an item that costs over $5000.00 and will not wear out or completely deteriorate in twelve (12) months. Office furniture, such as desk and file cabinets is also classified as equipment. Purchase of any one item with a cost of greater than $3000.00 must adhere to the Procurement Policy, Policy 306.1. Equipment purchases to be made with grant funds can be made only when they are consistent with grant policies.
Purchases to be made with the College General Fund must be approved by the Vice President of Business Affairs.
Adopted: Policy has been in place prior to Sept. 2003