Equipment and Supplies
Equipment, is defined as tangible, nonexpendable property having an anticipated useful life of one year or more and having a unit acquisition cost of $5,000 or greater.
Supplies, often referred as "Pilferable Items" are those items, regardless of cost, which may be easily lost or stolen, such as cell phones, tablets, graphing calculators, software, projectors, cameras and other video equipment, computer equipment and televisions.
Tracking Equipment And Supply Purchases
In accordance with CCRI's Capital Asset Accounting policy, CCRI's sponsored awards and their managing teams be responsible for maintain appropriate accounting records and physical custody over all grant or third party funded assets. A template for maintaining and tracking equipment and supplies on your sponsored project can be found Grants Tools and Resources.
Unallowed Equipment Purchases
The following transaction types are frequently cited by auditors as higher risk practices and not allowable at CCRI:
- Equipment purchases at the end of a project period to "spend down" an award.
- Equipment purchases on multiple awards without a sound cost allocation methodology.