Equipment

CPCC – Financial Services

Inventory Control and Equipment Guidelines

The following guidelines are derived from the North Carolina Community College Purchasing and Equipment Procedures Manual for the exclusive use of Central Piedmont Community College.  For any element not covered in these guidelines, the reader should refer to the Purchasing and Equipment Procedures Manual or another related document for guidance.

Assets with a cost greater than or equal to $5,000 and a useful life of two or more years

Assets with a cost equal to or greater than $5,000 that have a useful life of two or more years and are acquired for use in normal operations will be capitalized and entered into the Fixed Asset Module of Colleague, the college’s fixed asset inventory system, and inventoried at least once annually.  The object code used for these purchases will begin with 55 (i.e. 55xxxx).

Assets not designated as high-risk with a cost of at least $1,000 and less than $5,000

Assets such as furniture, office equipment, and classroom items, that are non-consumable, have an extended useful life of two or more years, and cost below $5,000 are not to be capitalized nor depreciated for financial reporting purposes and should be purchased using the expense object code of 555100 (Non-Capitalized Equipment).

Assets with a cost less than $1,000

Stand-alone items and items that will be incorporated or replace a part of a current asset with a cost  less than $1,000 shall be designated as a “supply” item and use the object code with a first two digits of 52 (i.e. 52xxxx).  These items will not be tracked for inventory purposes.

Assets designated as High-Risk

Assets costing less than $5,000 may be considered high risk.  Use the guidelines below to determine if an item is High Risk:

  • The following items will be considered high risk if its cost is greater than or equal to $1,000: Data processing equipment, networking equipment, projectors, servers, hand held digital cameras, camcorders.
  • The following items are considered high-risk at all times: computers, iPads, tablets, laptops and fire arms.

High-risk items will be entered into the Fixed Asset Module of Colleague, the college’s fixed asset inventory system, and will subject to audit at least once every 3 years.

Inventory Control will assist in determining what other equipment under $5,000 is to be considered high-risk.  Additional help and information may be required from the original requestor, department head, and/or the CPCC Procurement staff in helping to make this determination.

If a department wants to have an item designated as high-risk, please contact Inventory Control to determine if the item should be inventoried as high-risk.

High-risk, non-capitalized equipment shall be purchased using the expense object code 555200 (Non-Capitalized Equipment: High-Risk) and must be designated with fund code “9” when entered in the Fixed Asset Module.

PROCEDURE

Fixed Asset Number Assignment

Assignment of a fixed asset number to capitalized equipment and/or high-risk items shall be determined by the fund source used to purchase the asset.  The assignment of asset numbers shall be as follows:

  • Institutional funded equipment with a 01, 02 (unrestricted) and 05 with a fund source beginning with “0” shall receive an asset number that begins with an “N” (example: N09999) and shall be entered in the Fixed Asset Module with a fund code of “0” for Institutional.
  • Federal funded equipment with a 02 (restricted) fund source shall receive an asset number that begins with an “F” (example: F09999) and shall be entered in the Fixed Asset Module with a fund code of “3” for Federal.
  • State funded equipment with a fund source beginning with “1” shall receive an asset number that begins with an “S” (example: S09999) and shall be entered in the Fixed Asset Module with a fund code of “1” for State.
  • County funded equipment a fund source beginning with “2” shall receive an asset number that begins with a “C” (example: C09999) and shall be entered in the Fixed Asset Module with a fund code of “2” for County.
  • Equipment donated to the college shall receive an asset number that begins with a “D” (example: D09999) and shall be entered in the Fixed Asset Module with a fund code of “6”.
  • Any equipment designated high-risk, regardless of fund source, shall receive an asset number that begins with an “R” (example: R09999) and shall be entered in the Fixed Asset
  • Any building, land or Infrastructure, regardless of its fund source, shall receive an asset number that begins with an “M” (example: M09999) and shall be entered in the Fixed Asset Module with a corresponding fund code provided by the Construction Accounting and Fixed Assets department.

 

Sale, Trade, and Disposal of inventoried assets (including high-risk)

When a fixed asset reaches the end of its useful life, becomes inoperable, becomes obsolete, or is replaced, it may be removed from its current location to the fixed assets holding area using the Request to Dispose of Fixed Assets (D-23) form.  The asset steward or requestor must complete this form and have it approved by their department head and their campus dean and associate vice president or vice president.  The Inventory Control/Accounting & Reporting staff will then request and make arrangements for the asset to be removed (if necessary).

Once a capitalized asset has been placed in the holding area, it may be traded to other community colleges, sold on the North Carolina State Surplus Property website, cannibalized for parts, or recycled through a state-approved recycling agency.  Should the capitalized asset be determined to have no useful value and cannot be traded, sold, cannibalized, or recycled, it may then be disposed.

When an asset has been traded, sold, cannibalized, recycled or otherwise disposed, the Inventory Control Coordinator and his/her staff will be responsible for properly recording the disposal in the Fixed Asset Module.

Internal Transfer of High-Risk Assets (iPads, Tablets, & Laptops)

Any CPCC employee who is in possession of an inventoried or non-inventoried high-risk asset such as an iPad, Microsoft Surface tablet, or Laptop that wished to transfer ownership of that asset to another college employee must complete an ITS Technology Equipment Use Agreement and notify the Inventory Control department.

If the asset to be transferred has not been assigned a fixed asset ID and/or tag, the transferring party should supply Inventory Control with the make, model, serial number, original purchase date, and original purchase price for the device via email.  Once submitted, an asset ID will be assigned to the device and a member of the Inventory Control team will be dispatched to apply a fixed asset tag to the device.

Methods of Purchasing Equipment (based on total cost)

  • Available on established state term contract: Requisition and purchase in accordance with the established state contract terms.  Listing of State Term Contracts
  • Zero to $5,000: After determining that state contract is not available, the CPCC Procurement Department may purchase equipment from a requisition's suggested vendor without solicitation of any additional quotes.
  • $5,001 to $9,999.99: After determining that state contract is not available, the requisitioning department, or the Procurement Department, must solicit e-quotes from at least three vendors through the NC E-Procurement system.
  • $10,000 and above: After determining that state contract is not available, a formal requisition package must be submitted to the CPCC Procurement Department.  The CPCC Procurement Department must solicit formal written bids through the State of NC Interactive Purchasing System for a minimum of 10 days.

To help aid in preparing the formal requisition package an equipment check list has been created.  Include the equipment check list in the formal requisition package submitted to CPCC Procurement.  Equipment Check List

Quality Acceptance Inspection:

Not all purchases require a Quality Acceptance Inspection. If required, you should request one. Such requests must be forwarded (in writing) to the Division of Purchase and Contract, Attn: Quality Acceptance Inspections, 1305 Mail Service Center, Raleigh, NC 27699-1305; Fax # (919) 807-4511; or email to myra.welch@doa.nc.gov. Vendor shall include a copy of the Purchase Order and a copy of the bid or quote with its inspection request.

Products requiring a state quality acceptance inspection