Assets that do not meet the state's capitalization policy but that an agency considers particularly vulnerable to loss, thus subject to special property control. At the University, this includes all weapons, firearms, and permanently attached accessories such as rifles, pistols, flare guns, net guns, tasers, rifle scopes, signal guns, line-throwing equipment, and animal control devices.
Equipment item brought into the University or department from another university, agency, or another University department. Equipment transferred in is treated as equipment if it meets the equipment definition. University departments must approximate the fair market value of equipment transferred in at the time of receipt. Equipment that has an estimated fair market value of $5,000 or more, with a life expectancy of more than one year, must be tagged and inventoried.
Items purchased from the Surplus Property Office Warehouse. These are viewed as being acquired from an outside vendor. They are considered equipment if they meet the equipment definition; current market value of $5,000 or more and an original life expectancy of more than one year.
A University of Washington purchasing option. It consists of a Visa charge card utilized for most business related purchases, but it should never be used for personal expenditures. The card can purchase items up to $3,300 per transaction. The system includes an online (PaymentNet) method for transaction reviews and budget reallocation. It is available to any University staff or faculty with appropriate authorization from their Department Head and the ProCurement Card Administrator.
Combining certain items together as a system (one inventorial asset) as allowed by State and/or University policy.
Sometimes referred to as a guarantee, a warranty is an agreement which calls for the replacement or repair of tangible personal property with no additional charge for parts or labor, or both, based upon the happening of some unforseen occurrence, e.g., the property needs repair within the warranty period. (WAC 458-20-257)
Sometimes referred to as a service contract, a maintenance agreement is an agreement which requires the specific performance of repairing, cleaning, altering, or improving of tangible personal property on a regular or irregular basis to ensure its continued satisfactory operation. (WAC 458-20-257)
Equipment brought to the University for free use. Even though no payment is involved, other costs such as insurance and repair costs may be incurred and need to be covered by a loan agreement that has been negotiated and signed by the appropriate departmental authority (department chair, director, or administrator).
Also included in this definition are exhibits and demonstration equipment.
The transformation of salaries, benefits, supplies and materials, services, equipment, maintenance, and/or travel into one or more items of customized capital equipment for University of Washington use.
An agreement to spend a specific amount of money with a supplier over a period of time. Click here for details on when a blanket purchase order may be a better option than other ARIBA modules.