Capital Equipment
As part of the annual budget approved by the Board of Trustees, the College allocates funding for the purchase of capital equipment.
Capital Equipment (CE) is defined as any item that meets all of the following criteria:
- Has a projected useful life of two or more years.
- Is not permanently attached.
- Has a minimum value of $1,000. If the items costs less than $1,000 and operating dollars are not available, capital equipment funds may be used if multiple units of the item are purchased with a total value of $1,000 or more. Please note if operating funds are used to purchase equipment, budget should be transferred to appropriate account before purchase.
Capital equipment does not include the following:
- Disposable items used by students in a classroom or for instructional purposes (lab fees & accumulated lab fees)
- Office items reasonably considered an office supply (operating budget)
Divisions at the College are given a sub-allocation to purchase capital equipment. The approval process and communication for each division will be coordinated by its assigned Point of Contact (POC). The requisition process for capital equipment is detailed in the instructions below. All IT equipment needs should be directed to the Information Technology Division.
Capital equipment allocations are approved before the start of each new fiscal year. It is possible that subsequent allocations could be made throughout the year, depending on changes to the College’s enrollment in comparison to what was budgeted. In unique circumstances, additional funding can be requested using the form below.
To help inform the budget planning process, POCs collect anticipated capital equipment needs from each division for the upcoming fiscal year. In addition to informing the overall needs of the College, this process also provides each division with the opportunity to prioritize expected capital equipment needs and plan accordingly.
CE New Fiscal Year Template (.xslx)