{"id":2230,"date":"2023-05-22T11:06:13","date_gmt":"2023-05-22T16:06:13","guid":{"rendered":"https:\/\/www.bemidjistate.edu\/offices\/business-services\/?page_id=2230"},"modified":"2023-07-19T15:37:46","modified_gmt":"2023-07-19T20:37:46","slug":"equipment-thresholds","status":"publish","type":"page","link":"https:\/\/www.bemidjistate.edu\/offices\/business-services\/procurement\/equipment-thresholds\/","title":{"rendered":"Equipment Thresholds"},"content":{"rendered":"

Equipment Thresholds<\/h2>\n

Equipment purchased at these price levels will receive a numbered fixed asset tag or plain sticker property tag. Departments wanting equipment tagged below these limits can contact Inventory and provide order information.<\/p>\n\n\n\n\n\n\n\n\n
Object Code<\/th>\nValue<\/th>\nDescription<\/th>\n<\/tr>\n
4000<\/td>\n≥ $10,000<\/td>\nCapital Asset Equipment<\/td>\n<\/tr>\n
3006<\/td>\n$5,000–$10,000<\/td>\nFixed Assets<\/td>\n<\/tr>\n
3006<\/td>\n               **<\/td>\nSensitive Equipment<\/td>\n<\/tr>\n
3008<\/td>\n$1,000–$10,000<\/td>\nFurniture Purchased as Supplies<\/td>\n<\/tr>\n
3002<\/td>\n$1,000–$5,000<\/td>\nEquipment as Supplies<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

**All sensitive items (computers, tablets, weapons, high-end balances, etc.)<\/em><\/p>\n

Equipment Purchase Thresholds<\/h3>\n

Effective July 1, 2013, the following equipment purchase thresholds are in effect.<\/p>\n

Assets $10,000 and up<\/h4>\n
    \n
  • Use Object Code 4000 Capital Assets<\/li>\n
  • Must use a purchase order<\/li>\n<\/ul>\n

    Object Code 4000 is for any equipment with a unit cost of at least $10,000 and a minimum 2-year life expectancy. Freight for the capital equipment should be listed as object 4000 as well. Any ancillary costs associated with putting the asset in service should be listed under object 4005. This would include installation\/set-up and training.<\/p>\n

    Assets $5,000 to $9,999.99<\/h4>\n
      \n
    • Use Object Code 3006 Sensitive Equip<\/li>\n
    • Must use a purchase order<\/li>\n<\/ul>\n

      Object Code 3006 is for any equipment with a unit cost of at least $5,000 and a minimum 2-year life expectancy. Freight for fixed asset equipment should be listed as object 3006 also.<\/p>\n

      Computers, Tablets or Weapons, Regardless of Cost<\/h4>\n
        \n
      • Use Object Code 3006 Sensitive Equip<\/li>\n
      • Must use a purchase order<\/li>\n
      • BSU Computer Store orders all computers and tablets<\/li>\n<\/ul>\n

        Additional Equipment Considered Sensitive by Inventory & the Department<\/h4>\n
          \n
        • Use Object Code 3006 Sensitive Equip<\/li>\n
        • Must use a purchase order<\/li>\n<\/ul>\n

          Object Code 3006 is for tracking non-capitalized fixed assets below $10,000. Sensitive equipment can also be items vulnerable to theft or used off-site. Departments wishing to have specific types of equipment classified as sensitive can contact inventory so consistent procedures can be implemented. Freight must also be added to the value of the asset.<\/p>\n

          Equipment Below $5,000 & Not Classified as Sensitive<\/h4>\n
            \n
          • Use Object Code 3002 Equip as Supplies<\/li>\n
          • Can use PCard or purchase order<\/li>\n<\/ul>\n

            Inventory may apply property tags to these items.<\/p>\n

            Equipment Object Code Assignment Guidelines<\/h3>\n
              \n
            • If equipment unit cost + freight pushes total cost to a higher threshold category, use the object code for the higher threshold category. Example: $9,850 equipment + $150 freight = $10,000, so object code 4000 must be used<\/li>\n
            • When multiple assets are purchased on the same PO, freight is distributed using % of cost method. Inventory can assist with calculations.<\/li>\n
            • When capital and non-capital equipment are purchased on the same PO, separate object codes must be used.<\/li>\n<\/ul>\n

              Please contact the Inventory Office (218) 755-2776 with any questions on equipment object code assignment.<\/p>\n","protected":false},"excerpt":{"rendered":"

              Equipment Thresholds Equipment purchased at these price levels will receive a numbered fixed asset tag or plain sticker property tag. Departments wanting equipment tagged below these limits can contact Inventory and provide order information. Object Code Value Description 4000 ≥ $10,000 Capital Asset Equipment 3006 $5,000–$10,000 Fixed Assets 3006             […]<\/p>\n","protected":false},"author":49,"featured_media":0,"parent":412,"menu_order":2,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"class_list":["post-2230","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bemidjistate.edu\/offices\/business-services\/wp-json\/wp\/v2\/pages\/2230","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bemidjistate.edu\/offices\/business-services\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.bemidjistate.edu\/offices\/business-services\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.bemidjistate.edu\/offices\/business-services\/wp-json\/wp\/v2\/users\/49"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bemidjistate.edu\/offices\/business-services\/wp-json\/wp\/v2\/comments?post=2230"}],"version-history":[{"count":3,"href":"https:\/\/www.bemidjistate.edu\/offices\/business-services\/wp-json\/wp\/v2\/pages\/2230\/revisions"}],"predecessor-version":[{"id":2270,"href":"https:\/\/www.bemidjistate.edu\/offices\/business-services\/wp-json\/wp\/v2\/pages\/2230\/revisions\/2270"}],"up":[{"embeddable":true,"href":"https:\/\/www.bemidjistate.edu\/offices\/business-services\/wp-json\/wp\/v2\/pages\/412"}],"wp:attachment":[{"href":"https:\/\/www.bemidjistate.edu\/offices\/business-services\/wp-json\/wp\/v2\/media?parent=2230"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}