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The Controller's Office

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Definition of Capital Equipment

Capital equipment is a movable or fixed unit of furniture or furnishings, instrument, machine, apparatus or set of articles which generally meets all of the following conditions: 

  1. It retains its original shape and appearance with use.
  2. It is nonexpendable; that is if the article is damaged or some of its parts are lost or worn out, it is usually more feasible to repair it than to replace it within an entirely new unit.
  3. It represents a substantial investment of money ($1000 or more for budget purposes).  For insurance purposes, the Controller’s Office records items that conform to the definition of capital equipment at $1000 or more. 
  4. It does not lose its identity through incorporation into a different or more complex unit or substance.

Bradley University Surplus and Scrap Property

Material or equipment that is not in use and for which no future departmental need is anticipated may be transferred to another department if there is a need or may be disposed.  Before transferring or disposing of an asset, authorization must be granted by the Property Accountant at ext. 3116 in the Controller’s Office. 

Trade-ins

When equipment is traded in on the purchase of new equipment, the departmental requisition for the new purchase must carry the Serial number and description of the item to be traded.  If the existing items are to be transferred to another campus department, you must contact the Property Accountant at ext. 3116 in the Controller’s Office. 

Equipment Constructed by the University

Materials, supplies, machinery, and component parts purchased by the University for use in the construction of a specific and predetermined piece of equipment will be purchased with funds from the department’s account.  When the construction of such equipment is completed, and if the completed item is worth $1,000 or more, the user department is responsible for notifying the Property Accountant, at ext. 3116 in the Controller’s Office,  of the name of the constructed piece of equipment, date of completion, total cost including the purchase price of any materials, supplies, machinery and fixtures used, any applied freight charges and all construction and installation costs, including labor and contractual services.  This information is used to maintain an up-to-date capital inventory by department and building for capitalization and insurance purposes.