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1004.7 Equipment Screening

Subject Area: Accounting
Responsible Office: Financial Services
Sponsor: Associate Vice President for Finance
Originally Issued: December 1989
Revised: May 1998, January 2010, December 2014
Refer Questions To: James Ribikawskis, 773-702-3690


Purpose: To assure the avoidance of purchasing unnecessary or duplicative equipment in accordance with Section 200.318(d) of the Office of Management and Budget Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.

Policy

1. Financial Services is responsible for maintaining a permanent, detailed record of all fixed and moveable equipment owned by the University or used by the University but owned by the Federal government and other external agencies.

2. University departments are responsible for reviewing (screening) departmental equipment records provided by Financial Services before purchasing an item of equipment to determine if similar and suitable items are available in the department that would make it unnecessary to acquire an additional item of equipment.

3. The above screening procedure must be documented before an item of equipment in excess of $5,000 is charged against a Federal award.

4. Procurement and Payment Services will monitor compliance with this policy by reviewing all purchase orders for items of equipment in excess of $5,000 charged to a Federal award for evidence that such screening has taken place.