Section 3344-65-08 - Equipment purchases(A) All requests for purchases of equipment, defined as non-expendable, tangible, personal property having a useful life of more than one year and an acquisition cost of five thousand dollars or more shall be initiated by a purchase requisition. The university is required to maintain an inventory of all equipment and the utilization of the purchase requisition ensures that the property control department is automatically notified of such acquisitions.(B) Equipment improvements that increase non-expendable value to five thousand dollars or more shall be added to that valuation when identifiable. Increases to valuation can include costs such as shipping/delivery/installation charges (example: a server that has memory added.) These are considered assets that shall be maintained by property control, as stated in paragraph (A) of this rule. Replaces: 3344-65-05
Ohio Admin. Code 3344-65-08
Effective: 10/10/2016
Promulgated Under: 111.15
Statutory Authority: 111.15
Rule Amplifies: 3344
Prior Effective Dates: 5/1/86, 8/7/89, 3/1/94, 8/4/05, 11/12/13, 1/23/14