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Research Funded Purchasing & Contracts
 
Institutional Services |Purchasing and Contracts |Research Funded Purchasing | Equipment

Equipment

Equipment is defined as an item with a value of $5,000 or more that has a useful life of more than one year. The cost of an item includes the cost of any expenses necessary to have the item in working order. These expenses include installation, modifications, attachments, accessories, or apparatus necessary to make it usable for the purpose acquired. If a sponsor regulation defines equipment differently or with a lower dollar threshold that definition and lower dollar threshold will apply to purchases on that specific award.

The purchase requisition should provide detail such as manufacturer, model number, vendors who can supply the product and it should note any required features/specifications. The information provided on the requisition should be detailed enough to ensure that the award can be made to a vendor meeting all of the features/specifications.

Once the equipment is received, a New Asset Receipt form will need to be completed and filed with the Office of Equipment Management.

If older equipment is traded in when new equipment is purchased, the trade-in is to be noted on the requisition. Please note that sponsor approval may be needed prior to the trading in of any equipment. Please consult the Staff of the Office of Purchasing and Contracts prior to agreeing to trade-in equipment. The information about the trade-in must include the asset number or tag color from the item and the value of the credit. Trade-in transactions must be made directly with the provider of the goods or services being procured and cannot be deferred or credited against future transactions. The value of the trade-in cannot exceed the value of the item being purchased. State owned equipment cannot be traded in for a Research Funded purchase.

Once the Office of Purchasing and Contracts receives the requisition, they will confirm all details of the transaction with the vendor and they may seek other vendors. In addition, they will notify the Office of Equipment Management of the pending transaction and the need to retire the traded in equipment from the University's Property Control System. A Property Status Change Request Form will need to be completed and filed with the Office of Equipment Management.

If the equipment is purchased with state and Research funds, the equipment will become the property of the State of New York. A State purchase requisition must be submitted. The State and Research accounts must be noted on the requisition and be accompanied by the appropriate signature for the State and Research accounts. The nature of such an order requires the Office of Purchasing and Contracts to follow both State and Research procurement regulations and guidelines. A state purchase order will be issued to the vendor with the Research account being referenced. A Research Foundation purchase order is issued to the state for the Research Foundation portion of the purchase.

Section  .44 of the White House Office of Management and Budget Circular A-110 requires the establishment of procedures that assure the avoidance of ‚Äúpurchasing unnecessary items". Prior to the procurement of items in excess of $25,000, a search will be conducted of campus inventory by the Property Control Officer. The project director is responsible to ensure that purchases are appropriate and necessary to the conduct of their project. The completion of the Equipment Screening Certificate is a necessary part of the process.

The Office of Purchasing and Contracts is responsible for negotiating all contracts and agreements, including equipment maintenance agreements and lease and rental agreements. Prior to the issuance of a purchase order, the Office of Purchasing and Contracts will secure all the necessary signatures. Once the agreement has been finalized the end user will receive a fully executed copy of the agreement and a copy of the purchase order.

Insurance for Research Foundation and sponsor-owned equipment is available through the Research Foundation Central Office. The Research Foundation offers property insurance, project related property insurance and administrative property insurance. Information can be obtained by contacting Sponsored Funds Financial Management at 518-442-3196 or by completing and submitting to Sponsored Funds Financial Management an Equipment Floater form.


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