Property Control System Manual (PCS)

Effective: 1/27/1993

Revised: 3/1/2003

PCS 210: Interdepartmental Acquisition of Used Equipment

Purpose

To allow departments to purchase capital equipment from each other

Sources

Property Control

Financial Services

Policy

Departments may purchase capital equipment from other departments. For such transactions, an Asset Update record must be prepared and processed.

Procedure

The department selling equipment:

1. negotiates a selling price with the acquiring department
2. performs an online Asset Update change to reflect the new department code in the property system (contact Property Control if you do not have access to the Asset Update site)
3. prepares an expense transfer (IX) document

   Note:

   Use object code 7810 95, crediting and debiting the agency/orgs for the releasing and receiving departments respectively.

4. records the ASU property control number(s) in the description field of the IX

   and

5. forwards a photocopy of the IX to Property Control.

Cross-References

For information about equipment specifically acquired for resale, see PCS 209, “Acquisition of Equipment for Resale.”

For information on revenue codes, see the Financial Services Policies and Procedures Manual—FIN 308–01, “Overall Revenue Coding Structure.”

For information on expenditure codes, see the Financial Services Policies and Procedures Manual—FIN 430–01, “Overall Expenditure Coding Structure.”

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