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Equipment and Supplies

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.

The acquisition cost is the net invoice unit price of the property including the cost of modification, attachments, accessories or any additional components necessary to make the property usable for its intended purpose. Ancillary charges, such as taxes, duty, protective in-transit insurance, freight and installation, will be included in the overall costs if these charges are listed on the same invoice. Spare or replacement parts, regardless of cost, will be classified as supplies.

 

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.

Contact Information

Main Office:
Knight Campus
2nd Floor
400 East Avenue
Warwick, RI 02886

Kristen Fournier
Director, Sponsored Projects
[email protected]

Lawrence Butler Sabir
Grants Officer
[email protected]

 

Hank J. Anthony
Chief Accountant
[email protected]